November 18, 2004
On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in October 2004, following a 0.2-percent rise in September.
Energy costs, which had declined in each of the preceding three months after advancing sharply in the first half of the year, increased 4.2 percent in October, accounting for over half of the advance in the overall CPI-U. Within energy, the index for petroleum-based energy increased 8.5 percent, while the index for energy services declined 0.9 percent.
The index for food, which was unchanged in September, rose 0.6 percent in October. The index for all items less food and energy advanced 0.2 percent in October, following a 0.3-percent rise in September.
During the first ten months of 2004, the CPI-U rose at a 3.9-percent seasonally adjusted annual rate (SAAR). This compares with an increase of 1.9 percent for all of 2003.
For the 12-month period ended in October, the CPI-U rose 3.2 percent, as shown in the chart.