Key facts
- The BLS said shelter rose 0.3% month-over-month and accounted for over 30% of the all-items increase.
- Food rose 0.5% and energy 0.7% month-over-month, with gasoline up 1.0% after 9.1% in September.
- Used cars and trucks fell 1.2% and communication fell 1.0% month-over-month, the BLS said.
- Realtor.com's Jake Krimmel said mortgage rates averaged 7.18% after three straight weekly declines.
- First American's Sam Williamson said price pressures stayed broad across goods and services.
US consumer prices rose 0.4% in October from September, the Bureau of Labor Statistics said on November 10, 2026, a hotter reading than economists had hoped. The monthly increase followed a 0.6% rise in September. The bureau did not publish an annual inflation estimate because it did not collect data last October during the government shutdown; economists estimate headline annual inflation remains likely in the high 3% range.
Shelter rose 0.3% month-over-month, down from 0.4% in September, and accounted for over 30% of the all-items increase, the BLS said. Owner's equivalent rent rose 0.3%. Food rose 0.5% and energy 0.7%, down from a 5.2% monthly increase a month earlier. Gasoline rose 1.0% after 9.1% in September, electricity rose 0.9% and natural gas fell 0.8%.
Core inflation, all items less food and energy, rose 0.3% month-over-month, the same as in the prior two months. Recreation rose 0.8%, medical care 0.3% and motor vehicle insurance 0.7%, while used cars and trucks fell 1.2% and communication fell 1.0%.
Sam Williamson, senior economist at First American, said in a statement that price pressures remained broad across goods and services, suggesting businesses were passing higher costs to consumers, and that disinflationary help from categories such as shelter appeared to be fading.
Fed Governor Christopher Wallace said in a speech on November 10, before the CPI release, that a 50 basis point move was on the table for December, according to the report. The Fed left rates unchanged at its last meeting.
Jake Krimmel, senior economist at Realtor.com, said in a statement that the 10-year Treasury yield rose nine basis points within 25 minutes of the CPI release and that additional hikes in early 2027 looked more in play. He said mortgage rates averaged 7.18% after three straight weekly declines, and that October's 7.4% level showed how quickly higher rates hurt demand.