Key inflation markers remain unchanged in October

The Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October on a seasonally adjusted basis, after rising 0.4 percent in September, the U.S. Bureau of Labor Statistics has reported.

The all-item index jumped 3.2 percent before seasonal adjustment over the previous 12 months, the BLS release said.

Tame inflation data are expected to dampen fears of further serial increases in interest rates by the Federal Reserve, which is closely monitoring price data. The rate increases administered for the most part of early this year are calculated to drain the economy of liquidity to keep prices under control, although it could imperil economic recovery.

The index for shelter, on the other hand, maintained its rising trend into October, offsetting a decline in the gasoline index which remained unchanged over the month. The energy index dipped 2.5 percent over the month as a 5-percent decline in the gasoline index more than offset increases in other energy component indexes. The food index rose 0.3 percent in October, after increasing 0.2 percent in September. The index for food at home increased 0.3 percent over the month while the index for food away from home rose 0.4 percent.