October CPI rises 0.4% as core inflation holds at 0.3% for a third month

The U.S. Consumer Price Index for All Urban Consumers increased 0.4% in October, seasonally adjusted, after a 0.6% rise in September, the Bureau of Labor Statistics reported on 10 November. The index for all items less food and energy, often called core CPI, rose 0.3% for a third straight month, matching the August and September readings.

The BLS said the shelter index rose 0.3% and accounted for more than 30% of the monthly all-items increase. Food increased 0.5%, with food at home up 0.4% and food away from home up 0.5%. Energy rose 0.7% after a 5.2% jump in September. Gasoline was up 1.0% on a seasonally adjusted basis (down 0.7% before seasonal adjustment). Used cars and trucks fell 1.2%.

The agency did not publish 12-month percent changes for most October 2026 indexes. It said it could not collect survey data for October 2025 because of a lapse in appropriations, so year-ago comparisons are unavailable for series that lack that month. The unadjusted CPI-U stood at 337.511 (1982-84=100). The next CPI release is scheduled for 10 December 2026 at 8:30 a.m. Eastern time.

CNBC reported that economists polled by Dow Jones had expected a 0.3% rise in the headline index and 0.2% in core CPI. Treasury yields jumped after the report. CNBC said the 10-year yield traded above 5% before paring gains and was last up 13 basis points at 4.992%. The 2-year yield, which more closely tracks near-term policy expectations, was up more than 18 basis points at 4.736%, and the 30-year yield rose more than 9 basis points to 5.352%. Those are market levels as of CNBC's 4:06 p.m. Eastern update, not closing prints from an official auction result sheet.

The data landed hours after Fed Governor Christopher Waller, in a London speech, said a 50 basis-point increase "should be considered" at the December meeting if core CPI came in around 0.3% or higher. The official core reading met that threshold. CNBC, citing the CME FedWatch tool, said markets had still largely priced in a quarter-point December hike by the end of Tuesday. A $42 billion 10-year note auction was described by CNBC as mediocre and added pressure to bond prices.

None of these figures is a forecast of what the FOMC will do, and nothing here is investment advice. The official CPI details are in the BLS release; yield moves are as reported by CNBC on 10 November.