The Labor Department said on Wednesday its consumer price index increased 0.4 percent last month, the largest gain in the CPI since March. Energy accounted for more than half the increase, but Americans paid higher prices for gasoline, used cars, medical treatment and recreation in October.
Gas prices surged 3.7 percent in October, but Americans are still paying less to fill up now than they did a year ago, with the cost of gas about 7 percent lower. Prices for medical care rose 1 percent in October, marking the biggest increase in more than three years. The cost of recreation — ticket prices, cable TV and the like — also posted an increase of 0.7 percent, the biggest monthly gain since 1996.
The increase in the cost of living over the past 12 months edged up to 1.8 percent from 1.7 percent. But that means it’s still well below last year’s peak of nearly 3 percent.
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