US consumer prices rose for a third straight month in October but at a slower pace than recent months as energy prices eased, government data released Thursday showed.
The Labor Department reported its consumer price index edged up 0.1 percent from September, in line with analyst estimates.
The CPI had climbed 0.6 percent in September and August on the back of a sharp rise in energy prices.
But in October energy prices fell 0.2 percent, led by declines in gasoline and natural gas prices.
Food prices rose 0.2 percent, with the numbers indicating more consumers were eating at home.
Shelter prices, which include the price a homeowner would pay to rent his or her home in a competitive market, increased 0.3 percent, their largest increase since September 2011.
Shelter increases accounted for more than half the rise in the CPI, the department said.
Excluding food and energy prices, core inflation rose 0.2 percent.
On a 12-month basis, consumer prices were up 2.2 percent from October 2011, their highest level since April, compared with 2.0 percent in September, and core CPI was unchanged at 2.0 percent.
The kept the inflation rate hovering around the Federal Reserve’s 2.0 percent target considered acceptable for price stability.
US inflation eases on falling energy prices
