The headline CPI number came in at 0.3%, which compares to economists’ expectation of 0.3%.
Excluding food and energy prices, CPI was 0.1% versus an expectation of 0.2%.
This comes on the tail of yesterday’s hotter-than-expected September PPI number, which jumped 0.8%. Analysts had expected 0.2%.
From the press release:
Increases in energy and food indexes were the main cause of the seasonally adjusted all items increase. The gasoline index continued to rise, and indexes for electricity and natural gas increased as well. Broad increases in food indexes also continued in September, with the food at home index rising 0.6 per cent for the third month in a row and no major grocery store food group indexes declining.
The index for all items less food and energy increased 0.1 per cent in September, its smallest increase since March. The index for apparel declined in September after a series of sharp increases, and the indexes for used cars and recreation turned down as well. The indexes for new vehicles and household furnishings and operations were both flat. The shelter index rose, but posted its smallest increase since April, while the indexes for medical care, airline fares, and tobacco all increased.
The 12-month change in the all items index, which was 3.8 per cent in August, edged up to 3.9 per cent in September. The 12-month change for all items less food and energy remained at 2.0 per cent for the second straight month. The energy index has risen 19.3 per cent over the last year, while the food index has increased 4.7 per cent.
Photo: Bureau of labour Statistics