American apparel sector's CPI-U sees marginal rise in October 2023

In contrast, the energy sector experienced a significant downturn, with the energy index falling 2.5 per cent over the month.

The index for all items excluding food and energy, often considered a core measure for underlying inflation trends, rose 0.2 per cent in October. This increase, though modest, was less than the 0.3 per cent rise observed in September.

Over a 12-month period ending in October, the all items index reported a 3.2 per cent increase, a deceleration compared to the 3.7-per cent rise in the 12 months leading up to September. The all items index excluding food and energy rose 4 per cent over the same 12-month period, marking its smallest change since September 2021, as per the Bureau of Labor Statistics.

In the apparel sector, the index increased 2.6 per cent for the 12 months ending in October, aligning with broader trends of gradual economic recovery and consumer spending resilience.

ALCHEMPro News Desk (DP)