U.S. Core CPI Posts a Third Straight 0.3% Monthly Gain in October

U.S. inflation beat forecasts in October as core consumer prices rose 0.3% for a third consecutive month, matching the level Federal Reserve Governor Christopher J. Waller had flagged for considering a December rate increase.

The core consumer price index, which excludes food and energy, increased 0.3% from September. Overall CPI climbed 0.4%, after a 0.6% rise in September. Both October readings were 0.1 percentage point above forecasts.

Energy prices rose 0.7% during October, while food advanced 0.5% and electricity gained 0.9%.

The Bureau of Labor Statistics (BLS) could not collect October 2025 survey data during a lapse in appropriations, preventing it from calculating year-over-year changes for most October 2026 CPI categories.

Before the Nov. 10 release, Waller said a core reading around 0.3% or higher should prompt consideration of a 50-basis-point increase at the Federal Reserve’s December meeting. His remarks were his view, not a Federal Open Market Committee decision.