October Consumer Price Index: Hotter than expected

THOUSAND PALMS, Calif. (KESQ) — October CPI reports released this morning show inflation outpacing forecasts, with readings exceeding expectations by 10 basis points in nearly every category.

Month-over-month core CPI came in above the 0.2% forecast at 0.3%. Year-over-year core CPI also exceeded expectations, coming in at 2.6%, compared with a forecast of 2.5%.

Month-over-month noncore CPI matched the forecast of 0.6%. However, year-over-year noncore CPI came in at 3.7%, exceeding the 3.6% forecast.

News Channel 3 is speaking with local business owners in the Coachella Valley to learn how persistent inflation has affected their prices.