US CPI undershoots forecasts in October

(Sharecast News) - The cost of living in the U.S. fell back in October by more than expected. According to the Department of Labor, in seasonally adjusted terms the country's Consumer Price Index was steady month-on-month (consensus: 0.1%).

That served to push the year-on-year rate of increase down from 3.7% for September to 3.2% last month (consensus: 3.3%).

More significantly, at the core level, which excludes food and energy prices, CPI advanced by 0.2% on the month and by 4.0% on the year (consensus: 4.1%).

The latter was one tenth of a percentage below the previous month's reading.

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