US: Consumer price index rises 0.4% in October, up 1.6% YoY

US Consumer Price Index  increased 0.4% in October on a seasonally adjusted basis, the US Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 1.6%. Expectations were for a 0.3% increase MoM and 1.6% YoY.

“As in September, increases in the shelter and gasoline indexes were the main  causes of the rise in the all items index,” the Bureau of Labor Statistics said. “The gasoline index rose 7.0 percent  in October and accounted for more than half of the increase in the all items  index. The shelter index increased 0.4 percent for the second straight month.”

When excluding volatile categories, such as food and energy, the index rose 0.1% for the second straight month (0.2% expected) and 2.1% YoY, also below the 2.2% forecasted by analysts.