Inflation Data Show Slowing Price Increases

The Consumer Price Index increased 0.2 percent in October according to government statistics released on Wednesday morning.

That is the number analysts had expected ahead of the announcement.

It is the same increase as the previous three months, the U.S. Bureau of Labor Statistics reported.

The Consumer Price Index measures the change in prices paid by consumers for goods and services.

The figures are based on prices of food, clothing, shelter, fuels, transportation, doctor and dentist services, drugs and other goods and services that people buy for day-to-day living.

Housing costs rose 0.4 percent, accounting for more than half of the monthly increase.

The food index increased 0.2 percent in October, after rising 0.4 percent in September.

Consumer prices have increased 2.6 percent for the past 12 months before seasonal adjustment.

To prepare the report, prices are collected each month in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishments (department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments).