Inflation still a headache for consumers despite cooling last month

Résumé détaillé

Prices rose 0.4% in October, after the average cost of gas eased, bringing some relief to consumers who have been hammered by high prices for most of the year.

Prices rose 0.4% in October, after the rising cost of gas eased throughout the month, bringing some relief to consumers who have been hammered by high prices for most of the year.

In September, prices had jumped by 0.6% from August, meaning the pace of inflation cooled last month, but nonetheless remains too elevated for comfort.

Core inflation, which excludes food and energy prices, rose 0.3% from September for the third straight month. A higher-than-expected core reading indicates that soaring energy prices could be spilling over into the broader economy.

Both readings from the Bureau of Labor Statistics were more than economists had widely expected.

Tuesday’s report contains no year-ago figures due to the government shutdown in October 2025, which forced the BLS to cancel that month’s inflation report.

The slightly slowing pace of inflation was largely the result of easing gas prices last month, which according to AAA’s average, fell from $4.41 per gallon on Oct. 1 to $4.18 by the end of the month, a more than 5% drop.

But the BLS’ report showed that the overall gas price index still rose a solid 1%, even as the average nationwide price for a gallon of unleaded fell. Fuel oil also rose 2% from September, and electricity prices rose 0.9%.

Earlier on Tuesday, AAA data showed that gas prices had fallen below $4 per gallon for the first time since July. In early trading, oil prices continued their recent, sharp descent. Brent oil briefly tumbled below $90, after having been as high as $118 on Oct. 30.

But diesel fuel prices are 70% higher than at the start of the year, a far larger increase than regular gas. Diesel is a major input cost for the transportation industry that delivers goods, such as groceries, to store shelves around the world.

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