Cars and Trucks Boost October CPI

car_prices_250x251An increase in energy as well as new and used motor vehicles contributed to gains in the consumer price index for October, the Labor Department reported today.  The department reported a one-month rise of 0.30 percent for October and a 0.20 percent increase for all items less food and energy, the same increase as September.

Price increases for used and new vehicles account for 90% of the increase in the all-items index. Prices for airline transportation and medical care also increased. The food index showed a slight increase of 0.10 percent, with dairy-related products showing the biggest increase in the food group.

Analysts expected a rise of 0.30 percent for the one-month all-items index, but expected a rise of only 0.10 percent for the one-month index excluding food and energy.

Readers who liked this also enjoyed these posts:

PPI Data Falls Short

Ghost Towns in China Prove GDP is a Farce

StocksConsumer GoodsTMFDAIHMC