October 2024 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in October, the same increase as in each of the previous 3 months, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.6 percent before seasonal adjustment.

The index for shelter rose 0.4 percent in October, accounting for over half of the monthly all items increase. The food index also increased over the month, rising 0.2 percent as the food at home index increased 0.1 percent and the food away from home index rose 0.2 percent. The energy index was unchanged over the month, after declining 1.9 percent in September.

The index for all items less food and energy rose 0.3 percent in October, as it did in August and September. Indexes that increased in October include shelter, used cars and trucks, airline fares, medical care, and recreation. The indexes for apparel, communication, and household furnishings and operations were among those that decreased over the month.

The all items index rose 2.6 percent for the 12 months ending October, after rising 2.4 percent over the 12 months ending September. The all items less food and energy index rose 3.3 percent over the last 12 months. The energy index decreased 4.9 percent for the 12 months ending October. The food index increased 2.1 percent over the last year.

Changes to physicians' services and outpatient hospital services source data and methodology

Effective with this release, the CPI program will use secondary source medical claims data for the private insurance portion of the physicians' services and outpatient hospital services indexes.

Additional information is available at: www.bls.gov/cpi/notices/2024/methodology-changes-2024.htm

Food

The food index increased 0.2 percent in October, after rising 0.4 percent in September. The index for food at home rose 0.1 percent over the month. Five of the six major grocery store food group indexes increased in October. The cereals and bakery products index increased 1.0 percent over the month as the bread index advanced 1.9 percent. The index for dairy and related products also increased 1.0 percent in October. The fruits and vegetables index increased 0.4 percent over the month, as did the nonalcoholic beverages index. The index for other food at home increased 0.1 percent in October. The meats, poultry, fish, and eggs index fell 1.2 percent in October as the index for eggs decreased 6.4 percent over the month.

The food away from home index rose 0.2 percent in October, after rising 0.3 percent in both August and September. The index for full service meals also rose 0.2 percent over the month as did the index for limited service meals.

The food at home index rose 1.1 percent over the last 12 months. The index for meats, poultry, fish, and eggs rose 1.9 percent over the last 12 months and the index for nonalcoholic beverages increased 1.7 percent. Over the same period, the fruits and vegetables index rose 0.9 percent and the dairy and related products index increased 1.3 percent. The index for cereals and bakery products increased 0.9 percent over the year and the index for other food at home increased 0.4 percent.

The food away from home index rose 3.8 percent over the last year. The index for limited service meals increased 3.8 percent over the last 12 months and the index for full service meals rose 3.7 percent over the same period.

Energy

The energy index was unchanged in October, after declining 1.9 percent in September. The gasoline index decreased 0.9 percent over the month. (Before seasonal adjustment, gasoline prices decreased 1.9 percent in October.) The electricity index increased 1.2 percent over the month and the natural gas index rose 0.3 percent.

The energy index decreased 4.9 percent over the past 12 months. The gasoline index fell 12.2 percent over this 12-month span, and the fuel oil index fell 20.8 percent over that period. In contrast, the index for electricity increased 4.5 percent over the last 12 months and the index for natural gas rose 2.0 percent.

All items less food and energy

The index for all items less food and energy rose 0.3 percent in October, as it did in August and September. The shelter index increased 0.4 percent in October. The index for owners' equivalent rent rose 0.4 percent and the index for rent rose 0.3 percent over the month. The lodging away from home index rose 0.4 percent in October, after falling 1.9 percent in September.

The medical care index increased 0.3 percent over the month after increasing 0.4 percent in September. The index for physicians' services increased 0.5 percent in October and the prescription drugs index rose 0.2 percent over the month.

The used cars and trucks index rose 2.7 percent in October, after rising 0.3 percent in the previous month. The index for airline fares rose 3.2 percent over the month and the index for recreation increased 0.4 percent. Other indexes that increased in October include personal care and education.

The index for apparel fell 1.5 percent in October, following a 1.1-percent increase the preceding month. The communication index decreased 0.6 percent over the month, as it did in September. The index for household furnishings and operations and the index for motor vehicle insurance also declined in October. The new vehicles index was unchanged over the month.

The index for all items less food and energy rose 3.3 percent over the past 12 months. The shelter index increased 4.9 percent over the last year, accounting for over 65 percent of the total 12-month increase in the all items less food and energy index. Other indexes with notable increases over the last year include motor vehicle insurance (+14.0 percent), medical care (+3.3 percent), education (+3.8 percent), and personal care (+2.5 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.6 percent over the last 12 months to an index level of 315.664 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 309.358 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.4 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Consumer Price Index End of Year Supplemental Files and Revised Seasonal Adjustment Factors to be Available on February 12, 2025

Each year with the release of CPI data for January, relative importance weights are updated and seasonal adjustment factors are recalculated to reflect price movements from the just-completed calendar year. This routine annual recalculation may result in revisions to seasonally adjusted indexes for the previous 5 years.

* Consumer Price Index Seasonal Adjustment Factors (XLSX) * Consumer Price Index Relative Importance (XLSX) * Consumer Price Index Revised Seasonally Adjusted Indexes and Factors (XLSX) * CPI-U Median Price Change and Median Price Change Standard Errors (XLSX) * CPI-U Response Rates (XLSX) * Consumer Price Index Components for Seasonal Aggregation to All items (XLSX) * Consumer Price Index Series Subject to Intervention Analysis Seasonal Adjustment (XLSX) * CPI-U Historical Cost Weights (XLSX) * CPI-W Historical Cost Weights (XLSX)

With the release of these files, the seasonal factors and selected end of year materials will be available in the API and FTP files. These files will be available for all U.S. city average CPI-U data and a subset of U.S. city average CPI-W data.

In preparation for the upcoming end of year supplemental files and revised seasonal adjustment factors, last year's end of year supplemental files and revised seasonal adjustment factors are now available on the CPI supplemental files page.

BLS will also post last year's seasonal factors and other end of year materials in the API and FTP files in mid- to late-November.

For additional information, contact the CPI Information and Analysis section at cpi_info@bls.gov or (202) 691-7000.

Consumer Price Index Publication Changes to be Implemented on February 12, 2025

With the publication of January 2025 data in February 2025, several indexes and average price series will be discontinued, and one index title will change.

The following CPI indexes will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:

* Electricity * Utility (piped) gas (often referred to as natural gas) * Energy services * Fuels and utilities * Household energy

The following CPI average price series will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:

* Electricity per KWH * Utility (piped) gas per therm

The following CPI index will have a title change:

* Pet food will be changed to pet food and treats