US inflation slows in October but food and energy costs continue to rise

10th Nov 2026 13:09

(Sharecast News) - US consumer prices rose less sharply in October, according to the Bureau of Labor Statistics, offering some relief after September's stronger-than-expected reading, although higher food and energy costs continued to put pressure on households.

The BLS' headline consumer price index increased 0.4% month-on-month in October, slowing from September's 0.6% rise, while core CPI, which strips out volatile food and energy costs, rose 0.3%, matching the pace seen in both August and September.

Housing costs remained a key driver of inflation, with the shelter index rising 0.3% and accounting for more than 30% of the monthly increase in headline prices, while food prices rose 0.5%, with grocery prices up 0.4% and food away from home also increasing 0.5%.

Energy prices increased 0.7% during the month, following a 5.2% jump in September. Petrol prices rose 1%, while electricity costs increased 0.9%, partially offset by a 0.8% decline in natural gas prices.

Elsewhere, recreation prices increased 0.8%, while motor vehicle insurance, medical care, education and household furnishings also recorded gains. However, used car and truck prices fell 1.2%, while communication costs edged lower.

Reporting by Iain Gilbert at Sharecast.com