U.S. consumer prices rose 0.4% in October as food and shelter costs advanced, even as the national average for regular gasoline slipped below $4 a gallon on Tuesday.
The U.S. Bureau of Labor Statistics (BLS) said the seasonally adjusted Consumer Price Index (CPI) increase slowed from 0.6% in September.
The agency did not publish its usual annual headline comparison because it had not collected October 2025 prices during a lapse in government funding.
Food prices rose 0.5% after holding steady in September, while grocery prices increased 0.4%. Shelter made up more than 30% of the overall monthly gain. The core measure, which excludes food and energy, rose 0.3%, BLS said.
The October CPI report showed a 1.0% increase in its seasonally adjusted gasoline index. AAA’s pump-price figures cover a later point: It put regular gasoline at $3.98 a gallon Tuesday, compared with $4.01 on Monday and $4.37 a month earlier. The average was $3.07 a year ago. AAA’s Nov. 10 reading put diesel at $6.16, down from $6.28 a month earlier.
Federal Reserve Gov. Christopher J. Waller spoke before the inflation report. He said he was leaning toward a quarter-point rate increase in December and that a half-point increase should be considered if October core CPI was around 0.3% or higher. BLS later reported a 0.3% core reading, meeting that condition; Waller did not describe the larger move as a settled decision.
The next CPI report is scheduled for Dec. 10 at 8:30 a.m. ET.
