Hardware Retailing The Industry's Source for Insights and Information
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% on a seasonally adjusted basis in October after rising 0.6% in September, the U.S. Bureau of Labor Statistics reported. Steady inflation continues to impact retailers as consumers delay discretionary home improvement projects and spending.
The index for energy increased 0.7% in October after rising 5.2% in September. The gasoline index increased 1.0% over the month, after advancing 9.1% the previous month. The index for electricity rose 0.9% over the month. In contrast, the natural gas index decreased 0.8% in October.
The index for all items less food and energy rose 0.3% in October, as it did in September and August. The shelter index increased 0.3% over the month after rising 0.4% in September. The index for owners’ equivalent rent rose 0.3% in October, and the index for rent increased 0.2%. The lodging away from home index rose 0.6% in October after rising 2.0% the previous month.
