United States Core Inflation Rate

The annual core consumer price inflation rate in the United States, which excludes items such as food and energy, stood at a three-month high of 3.3% in October 2024, unchanged from September and in line with market estimates. Prices for services less energy services, which are closely monitored by the Federal Reserve for gauges on underlying inflation, rose slightly faster (4.8% vs 4.7% in September), reflecting persistently high inflation in the heavyweight shelter (4.9%, the same as in September) and transportation services (8.2% vs 8.5%). On a monthly basis, core consumer prices rose by 0.3% in October, the same pace as in September and August and matching market expectations.