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http://mam.econoday.com/byshoweventfull.asp?fid=461100&cust=mam&year=2014&lid=0&prev=/byweek.asp#top
Remember all of the wide-eyed tales of runaway inflation stemming from QE? Remember how republicans gave us all laughter in blaming Obama for all of that out of ignorance of who controls the central bank? Well now the fed is unwinding QE - not Obama, the fed - and we never saw the runaway inflation. In fact, inflation has been flat and below historical averages.
Remember all of the wide-eyed tales of runaway inflation stemming from QE? Remember how republicans gave us all laughter in blaming Obama for all of that out of ignorance of who controls the central bank? Well now the fed is unwinding QE - not Obama, the fed - and we never saw the runaway inflation. In fact, inflation has been flat and below historical averages.
Overall consumer prices in October were a flat 0.0 percent after firming 0.1 percent in September. Market expectations were for a 0.1 percent dip. Excluding food and energy, the CPI was warmer, gaining 0.2 percent after nudging up 0.1 percent in September. The consensus was for a 0.1 percent increase in October.
Energy fell 1.9 percent after slipping 0.7 percent September. Gasoline dropped 3.0 percent after declining 1.0 percent the month before. Food price inflation rose 0.1 percent, following a gain of 0.3 percent in September.
For the core rate, the shelter index, airline fares, household furnishings and operations, medical care, recreation, personal care, tobacco, and new vehicles were among the indexes that increased. The indexes for used cars and trucks and for apparel declined in October.
On a seasonally adjusted basis, the headline CPI was up year-ago 1.7 percent versus 1.7 percent in September. Excluding food and energy, the year-ago pace was 1.8 percent, compared to 1.7 percent the month before.
While consumer price inflation firmed marginally, the year-ago rate is still below the Fed's target of 2 percent-especially when converted to a PCE basis which has been running below the CPI.
