The average cost of a market basket of goods and services in the United States decreased 0.1 percent, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI)*. The pre-seasonally adjusted September CPI level rose to 233.8 which is 1.0 percent higher than the previous year.
On a seasonally adjusted basis, the Consumer Price Index for all Urban Consumers (CPI-U) decreased by 0.1 between the September and October indices. Core CPI, which excludes Food and Energy, remained unchanged in October. The Food index increased to 0.1 percent. The Energy index decreased from 0.8 percent in September to -1.7 in October due to a -2.9 percent decrease in the gasoline index.
The New Vehicle index decreased to -0.1 percent in October from 0.2 percent in September. The Used Cars and Trucks index was 0.3 percent. Medical Care Services Indices decreased to -0.1 percent. Apparel remained unchanged. Transportation Services increased 0.4 percent in October. Services, less the Energy Services and the Shelter indices, remained unchanged. Medical Care Commodities increased to 0.3 percent.
*The CPI is based on prices of food, clothing, shelter, fuels, transportation fares, doctors’ and dentists’ services, prescription drugs, and other goods and services that people buy for day-to-day activities. Prices are collected in 87 urban areas across the country (including Kansas City and St. Louis) from about 50,000 housing units and approximately 23,000 stores, hospitals and other types of service establishments.
The actual index is expressed as a number derived by comparing the current cost of goods and services to the cost of the same items between 1982 and 1984. The reference year is assigned a value of 100. Subsequent indices are expressed as a percentage of the base year.