EconomyBrief
US consumer price growth slows as core increases persist
October’s seasonally adjusted monthly headline rise eased from September, while the core index posted the same monthly increase for a third consecutive month.
The numbers
- U.S. headline CPI-U change from prior month, seasonally adjusted
- 0.4 %
- U.S. core CPI-U, excluding food and energy, change from prior month, seasonally adjusted
- 0.3 %
U.S. consumer prices rose 0.4% in October from September on a seasonally adjusted basis, slowing from September’s 0.6% monthly rise, the Bureau of Labor Statistics reported November 10.
The smaller increase means the overall consumer price index continued to rise, but at a slower monthly pace. A separate measure that excludes food and energy showed a steadier pattern across the last three months.
That core index rose 0.3% on a seasonally adjusted monthly basis in October, matching its increases in August and September, according to the BLS release.
Andrew Davis, head of investment strategy at Bryn Mawr Trust, interpreted the repeated core increases as evidence that underlying price pressures had not meaningfully eased, despite the slower headline rise. Mary Cunningham included his emailed comments in CBS News reporting.
BLS did not publish October’s 12-month changes for the headline and core indexes. The agency said a lapse in appropriations in 2025 prevented collection of October 2025 survey data, leaving the required comparison indexes unavailable.
The agency’s release schedules the November CPI report for December 10, at 8:30 a.m. Eastern time.
What we don't know yet
- How will the seasonally adjusted monthly core CPI change after its three consecutive 0.3% monthly increases through October 2026?
- What was the October 2025 to October 2026 change for the headline and core CPI indexes, whose comparison values were unavailable?