Midwest consumer prices tick down in October

The Midwest Consumer Price Index ticked down 0.3 percent in October, representing the 10th consecutive month of year-to-year declines.

At 225.05, the index also was down slightly from 225.18 in September, according to a U.S. Bureau of Labor Statistics news release.

The CPI – which reflects price changes for energy, food and all other items – is measured in comparison to a base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $225.05 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas, according to the BLS.

The October decrease largely was due to a 15.3 percent drop in the energy index, according to the release.

Within the index, motor fuel prices fell 23.4 percent, marking consecutive year-to-year declines since August 2014. Piped utility gas service costs dropped 16.5 percent during the year, and electricity prices edged up 0.6 percent.

The food index rose 1 percent in October compared to last year, representing the smallest year-to-year increase since December 2013. In the index, prices for food away from home moved up 2.8 percent and prices for food at home decreased 0.2 percent, according to the release.

The index for all other items increased 1.3 percent from October 2014, led by higher costs for medical care services, at 2.6 percent, and shelter, 2.2 percent.