CPI release
CPI report: October 2023
Consumer prices rose 3.2% in the 12 months through October 2023, down from 3.7% in September. Core inflation, which excludes food and energy, ran 4.0%. The CPI-U index stood at 307.671, a -0.0% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 3.2% |
|---|---|
| Core inflation (12-month) | 4.0% |
| CPI-U index level | 307.671 |
| Change vs. prior month (NSA) | -0.0% |
What moved: inflation by category
Over the twelve months ending October 2023, prices rose fastest in motor vehicle insurance (19.2%), rent of primary residence (7.2%), owners' equivalent rent (6.8%), while utility (piped) gas service prices fell (-15.8%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Motor vehicle insurance | 19.2% | 2.3% |
| Rent of primary residence | 7.2% | 0.5% |
| Owners' equivalent rent | 6.8% | 0.5% |
| Shelter | 6.7% | 0.3% |
| Food away from home | 5.4% | 0.4% |
| Housing | 5.2% | 0.1% |
| Core (all items less food & energy) | 4.0% | 0.2% |
| Food | 3.3% | 0.3% |
| Recreation | 3.2% | 0.0% |
| Prescription drugs | 3.1% | 0.8% |
| Apparel | 2.6% | -0.3% |
| Electricity | 2.4% | -1.5% |
| Food at home | 2.1% | 0.3% |
| New vehicles | 1.9% | -0.2% |
| College tuition and fees | 1.5% | -0.2% |
| Education & communication | 0.9% | -0.2% |
| Transportation | 0.8% | -0.9% |
| Medical care | -0.8% | 0.2% |
| Energy | -4.5% | -3.1% |
| Gasoline (all types) | -5.3% | -5.3% |
| Used cars and trucks | -7.1% | -1.4% |
| Airline fares | -13.2% | 3.8% |
| Utility (piped) gas service | -15.8% | 0.9% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| October 2023 | 307.671 | 3.2% |
| September 2023 | 307.789 | 3.7% |
| August 2023 | 307.026 | 3.7% |
| July 2023 | 305.691 | 3.2% |
| June 2023 | 305.109 | 3.0% |
| May 2023 | 304.127 | 4.0% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2022 dollars are worth in 2023, the year-over-year conversion
- How the BLS turns 80,000 prices into this number
- How to read a CPI report, headline vs. core and what moves after release day
Source: U.S. Bureau of Labor Statistics, CPI-U, not seasonally adjusted (official CPI news releases). Category series are listed on the data sources page. See the methodology.