Monthly consumer prices hold steady; up 1.5% from last year

The Consumer Price Index for urban consumers in the Midwest was unchanged in October, compared to the previous month, according to data released Nov. 17 by the U.S. Bureau of Labor Statistics.

October energy prices were down 1.8 percent from September, with electricity costs decreasing by 8.9 percent and motor fuel costs increasing by 1.8 percent.

During the last 12 months, the Midwest CPI rose 1.5 percent, the BLS reported, pointing to an 8.4 percent dip in the energy index, which includes motor and household fuels, and a 1.5 percent increase in food costs.

Among the regions surveyed, prices in the Northeast increased 0.3 percent in October while prices in the South and West were up only 0.1 percent. During the year, the 1.5 percent increase in the Northeast matched that of the Midwest. Prices in the South were up 1.3 percent and were 0.6 percent higher in the West, the BLS said.

First published in 1966, the index measures the average change in prices over time for goods and services such as food, clothing, shelter, fuels, transportation fares, health care and drugs. The CPI measures price changes from the base period of 1982–84, which represents an index score of 100.

The Midwest region’s October index was 208.7, and the national index in October was 218.7.

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