The consumer price index rose 0.3% in October, boosted by the largest monthly increase in vehicle prices in 28 years, the Labor Department reported yesterday.
Year over year, consumer prices in October fell 0.2%, the smallest decline in prices since February when 12-month CPI increased. The 12-month CPI has declined for eight consecutive months.
Core consumer prices, which exclude food and energy costs, increased 0.2% for the month, the largest increase since June. Core prices rose 1.7% for the year ending in October.
Economists polled by Thomson Reuters expected the CPI to increase 0.5% in October and for core prices to increase 0.1%, according to the median estimate. Total consumer prices and core prices each rose 0.2% in September.
Real earnings in October declined 0.1%.