Consumer Price Index Gains 0.2% in October

rices paid by consumers rose 0.2% in October, the slowest pace in four months, following September’s 1.2% jump, the Labor Department said Wednesday.

The so-called "core" consumer price index, which excludes food and energy, also gained 0.2%, Labor said.

The core rate had risen by 0.1% in each of the previous five months. September’s overall 1.2% rise had been the highest in 25 years.

The CPI is the government's broadest gauge of costs for goods and services. Almost 60% of the CPI covers prices consumers pay for services. If consumer prices are falling, it could reflect a decrease in demand for consumer goods, which decreases the demand for trucking services.

Year-to-date CPI is rising at a 4.9% annual rate, compared with 3.7% at the same time last year. Core prices are increasing at a 2.1% annual rate, down from 2.2% last year.

Energy prices fell 0.2% in October after soaring 12% in September. Gasoline fell 4.5%, the most since July 2004.

ousing costs jumped 0.9% after gaining 0.4% in September. The October rise was the biggest since January 2001.

Food and beverage prices, which account for about one-fifth of the index, rose 0.3% following 0.2% in September.

he cost of all goods including cars, apparel and food fell 0.5% after a 2.4% rise in September.