PriceStats closely matched the delayed official CPI release for September, but we will not have an official number for October this week. However, PriceStats tells us that the inflation trend moderated somewhat in October.

A 0.16%mom rise (nsa) is close to the average for the month over the past decade and approximates the 2024 reading.

After rising consistently since June, this leaves the PriceStats annual inflation rate almost unchanged in October, albeit remaining at a two-year high. This suggests the inflation trend still requires monitoring, but that inflation projections into year-end do not need to be altered.