Consumer Prices Show Slight Drop In October

Consumer prices as measured by the Urban Wage Earners and Clerical Workers index (CPI-W) declined 0.1 percent over the month, as seasonally adjusted, the Bureau of Labor Statistics reported on Wednesday, November 16. The CPI-W, which is used as an escalator in union contracts and in federal entitlement payments, registered an October level of 223.043 (1982-84=100), which was 3.9 percent higher than in October 2010, prior to seasonal adjustment. Consumer prices as measured by the All Urban Consumers index (CPI-U) also declined 0.1 percent on a seasonally adjusted basis; the October level of 226.421 (1982-84=100) was 3.5 percent higher than in October 2010 (unadjusted). Prior to seasonal adjustment, the CPI-W decreased 0.3 percent, and the CPI-U decreased 0.2 percent over the month (USDL 11-1644, Bureau of Labor Statistics).

Among the various components comprising the CPI-W as seasonally adjusted, Medical care registered the highest increase, up 0.5 percent, followed by Apparel and Education and communication, both up 0.2 percent. Food and beverages and Housing increased 0.1 percent. Transportation registered the largest decrease, down 1.2 percent. Other goods and services and Recreation were unchanged over the month.