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Monthly Update: Inflation

October '20
Published on 11/12/20
Monthly Update: Inflation

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Inflation Nationwide

The cost of consumer goods and services as measured by the Consumer Price Index for All Urban Consumers (CPI-U)[1 ]rose 1.2 percent nationwide from October ’19 to October ’20, according to the U.S. Bureau of Labor Statistics. Core inflation (all items less the volatile food and energy categories) increased 1.6 percent since October ’19.  

The cost of energy decreased 9.2 percent from the previous October, largely due to an 18.1 percent decline in motor fuel prices. Electricity rose 1.3 percent and natural gas costs 1.8 percent. The shelter index grew 2.0 percent from October of last year. In that same period, overall food prices increased 3.9 percent, with grocery prices rising 4.0 percent. The cost of dining out rose 3.9 percent. 
 

Inflation Houston

Consumer prices in the Houston-The Woodlands-Sugar Land metro area[2] dropped 0.1 percent from October ’19 to October ’20. Core inflation, all items less food and energy, rose 0.3 percent. The shelter index went up 1.1 percent.

During the previous 12 months, food prices climbed 2.6 percent. The cost of dining out grew 2.7 percent and grocery prices grew 2.4 percent.

The energy index has fallen 9.2 percent since October ’19, due to a 21.7 percent decline in motor fuel prices and a 1.7 percent decrease in natural gas prices. Offsetting some of the decrease, electricity costs have risen 5.2 percent since October ’19. 
 

 

[1] CPI data in this commentary are not seasonally adjusted. 
[2] Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller Counties.

 

Elizabeth Balderrama, PCED
Manager, Research
713-844-3615
ebalderrama@houston.org

Patrick Jankowski, CERP
Senior Vice President, Research
713-844-3616
pjankowski@houston.org

Consumer Price Index Economy Key Economic Indicators
-9.2%

Houston's energy index fell 9.2 percent since last October

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