Consumer Price Index Rises In October For First Time In 3 Months

The consumer price index posted the first increase in October in three months, but overall U.S. inflation remained extremely low. The CPI rose by a seasonally adjusted 0.2% last month, the government said Tuesday. Yet from October 2014 to October 2015, consumer inflation has risen a scant 0.2%. Part of the increase last month stemmed from seasonal adjustments that reflected a rise in energy costs even though the actual price of gasoline fell. The Labor Department said energy prices rose an adjusted 0.3% in October. Meanwhile, food prices edged up 0.1%, the smallest gain in five months. Excluding food and energy, so-called core consumer prices rose 0.2% in October. Over the past 12 months core prices have climbed 1.9%. Real or inflation-adjusted hourly wages advanced 0.2% in October. Real wages have climbed 2.4% in the past 12 months.