Consumer prices rose 0.4% in October from September, the Bureau of Labor Statistics reported Tuesday, and core prices, which leave out food and energy, rose 0.3%. But the report is missing the number most people quote: the annual inflation rate.
BLS says it did not collect survey data for October 2025 because of a lapse in government funding, so it could not publish most October 2025 index values. Without that baseline, it “cannot publish” 12-month percent changes for October 2026 for those indexes. That includes the all-items and core figures.
What the Report Does Show
The monthly gains are the clearest read. Headline CPI rose 0.4% after a 0.6% jump in September. Core CPI rose 0.3% for the third month in a row.
- Food: up 0.5% after no change in September. Groceries rose 0.4% and restaurant meals 0.5%. Beef rose 0.9% and snacks 1.0%.
- Energy: up 0.7% after a 5.2% surge in September. Gasoline rose 1.0% on a seasonally adjusted basis, after a 9.1% jump the month before. Electricity rose 0.9%, while natural gas fell 0.8%.
- Shelter: up 0.3%, accounting for more than 30% of the monthly increase, according to BLS.
- Other categories: motor vehicle insurance rose 0.7%, recreation 0.8% and hospital services 0.8%. Used cars and trucks fell 1.2%.
The Few Annual Numbers BLS Did Publish
In its main table, BLS lists 12-month changes for only a few items. Gasoline is up 37.4% from a year ago before seasonal adjustment, new vehicles are up 0.7%, and used cars and trucks are down 3.3%. Every other line, including all items, shows a dash.
How to Read It Without an Annual Rate
Compare months, not years. A 0.4% monthly gain is not a one-off to ignore: if prices rose at that pace every month, it would add up to roughly 5% over a year. That is a simple back-of-the-envelope calculation, not an official figure, and monthly readings swing with gasoline and seasonal quirks.
Contoh’s earlier coverage noted that traders were betting on a December Fed rate hike. This report, with core prices still rising 0.3% a month, does not make that bet look unreasonable. BLS did not comment on the Fed, and policymakers have more data to weigh before they meet.
What to Watch Next
The November CPI report is scheduled for Thursday, Dec. 10, at 8:30 a.m. Eastern. Annual comparisons for November will have a normal baseline, so a full year-over-year figure should be easier to compute then.
If you have a contract, lease or benefit tied to CPI, check which index it uses and how it handles the missing October 2025 data. That is a question for the administrator, not something this report answers.
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