U.S. Prices Rose 0.4% in October, Above Forecasts

The Bureau of Labor Statistics said Tuesday that U.S. consumer prices rose 0.4% from September to October, above economists’ 0.3% forecast, while core inflation remained firm. The headline increase slowed from 0.6% in September, but the monthly figures for both overall and underlying prices exceeded expectations.

The core Consumer Price Index, which excludes food and energy, increased 0.3% in October, matching its monthly gains in August and September and above the 0.2% forecast. The release points to continued price pressure even as the headline monthly pace eased.

The BLS did not publish October year-over-year CPI rates. The agency said it lacked the October 2025 price data needed for comparisons after data collection was disrupted during the government shutdown. Estimates of annual inflation made by analysts or forecasting models are not official BLS readings.

Food prices rose 0.5% in October, while shelter costs increased 0.3%. Shelter accounted for more than 30% of the monthly rise in the all-items index, according to the BLS. Energy prices rose 0.7%, less than the 5.2% increase recorded in September. Gasoline prices, however, increased 1% during October.