U.S. prices rise 0.4% in October; no annual rate published

The U.S. Bureau of Labor Statistics said Nov. 10 that its consumer price index rose 0.4 per cent in October from September, but the agency did not publish an annual inflation rate for the month.

The monthly gain follows a 0.6 per cent increase in September, and core prices, which exclude food and energy, rose 0.3 per cent for a third straight month. The missing annual figure is the one markets and the Federal Reserve normally watch most closely.

The Labor Department agency said it could not compute it because of a gap in its own records. “BLS did not collect survey data for October 2025 because of a lapse in appropriations,” the release said. As a result, the agency said, it cannot publish 12-month changes for October 2026 for indexes that depend on that month.

Energy prices rose 0.7 per cent in October after a 5.2 per cent jump in September, the release showed. Gasoline rose 1.0 per cent on a seasonally adjusted basis, though before seasonal adjustment it fell 0.7 per cent. A few indexes that could be compared did carry annual figures, including gasoline, listed at 37.4 per cent higher than a year earlier before seasonal adjustment, and used cars and trucks, down 3.3 per cent.

Food prices rose 0.5 per cent, with food at home up 0.4 per cent and restaurant prices up 0.5 per cent. Shelter rose 0.3 per cent after a 0.4 per cent gain in September. Recreation rose 0.8 per cent and motor vehicle insurance 0.7 per cent, while used cars and trucks fell 1.2 per cent from September.

Trade and financial outlets said the figures came in above expectations. FXStreet reported the 0.4 per cent monthly rise against 0.3 per cent expected, and Quartz reported core prices up 0.3 per cent against 0.2 per cent expected. HousingWire said a December Fed rate hike is back in focus.

That matters because the Fed is already in a tightening cycle. It held its benchmark rate at 3.75 per cent to 4 per cent on Oct. 28, with two members voting for another quarter-point increase, as we reported. The central bank has not said how it will treat the October data when it next meets in December.

For Canadians, the numbers matter through fuel prices and interest rates. Statistics Canada reported that inflation reached 3.1 per cent in September as gas prices jumped 27.8 per cent, as we reported, and U.S. rate decisions bear on the Bank of Canada’s own choices. Canada’s October inflation report is due Nov. 16, according to our Money Week calendar, and the Bank of Canada’s next decision is Dec. 9.

The Bureau of Labor Statistics is scheduled to release November consumer prices on Dec. 10 at 8:30 a.m. ET. Other recent U.S. data are in our coverage of the October jobs report.

Via the U.S. Bureau of Labor Statistics, FXStreet, Quartz and HousingWire.

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