Annual US consumer inflation at 3.2% in October, slowing from 3.7% gain in September

By Ovunc Kutlu

ISTANBUL (AA) - Annual consumer inflation in the US came in at 3.2% in October, slowing from a 3.7% gain in September, according to figures released Tuesday.

The figure also was lower than expectations of a 3.3% increase, year-on-year.

The consumer price index (CPI), which measures changes in the prices of goods and services from a consumer's perspective, showed an annual increase of 3.7% in August.

That figure alsi is a sharp decline from last June's 9.1% yearly gain -- the largest since November 1981.

CPI remained unchanged from the previous month, also slightly lower than estimates of a 0.1% gain, and following a 0.4% increase in September.

"The shelter index was the largest factor in the monthly increase in the index for all items less food and energy," said a Labor Department statement.

Core CPI, which excludes volatile food and energy prices, gained 0.2% in October from the previous month, after rising 0.3% in September, also was lower than expectations of 0.3%.

Annually, core CPI increased 4% in October, after rising 4.1% in September, also coming less than market estimates of 4.1%.

"The energy index decreased 4.5 percent for the 12 months ending October, and the food index increased 3.3 percent over the last year," said the statement.