Consumer Price Index: Inflation Decreased

January 6, 2018

Consumers paid 1.4% more in October 2017 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI], and the level of inflation decreased one percentage point from the 1.5% measured in September 2017.

This is according to the latest Consumer Price Index, which said, “Between September 2017 and October 2017, the average cost of goods and services in the CPI decreased by 0.1%. The all-items index fell to 104.1 in October. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $104.10.

“The Clothing & Footwear sector was the largest contributor to the year-over-year increase in October [+1.6%]. The average cost of jewelry rose 8.4%. In addition, the Tobacco & Liquor sector and the Food sector rose 9.2% and 2.5%, respectively.”

The full October 2017 Consumer Price Index follows below [PDF here]:

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