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November 16, 2005
The CPI Report By The Numbers
Earlier today, the BLS reported that the seasonally adjusted CPI for all urban consumers rose 0.2% (2.4% annualized rate) in October. The CPI less food and energy rose 0.2% (3.0% annualized rate) on a seasonally adjusted basis.
... the median Consumer Price Index rose 0.2% (1.9% annualized rate) in October.
Here's the scoop, in a handy table:
|Percent Change From Previous Month|
|CPI less food & energy||0.1||0.1||0.1||0.1||0.1||0.2|
|Percent Change, Last 12 Months|
|CPI less food & energy||2.2||2.0||2.1||2.1||2.0||2.1|
The distribution of individual price changes looks much like it did last month: A lot of prices changing at a relatively rapid clip, but even more growing at annual rates below 2% (which includes a bunch that are actually falling):
That picture helps to illustrate why we are often so intently focused on information that goes beyond the headline number. But more on that shortly.
Barry Ritholtz, on the other hand, reads Tuesday's PPI report and concludes that "Inflation remains robust."
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Inflation under control
Unlike September's troubling inflation statistics, yesterday's release by the Bureau of Labor Statistics of the October consumer price index is more reassuring. [Read More]
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