Grocery and Power Costs Lift October Prices 0.4%

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US consumer prices rose 0.4% from September to October, higher than forecast, AP reports, citing the Labor Department. Core prices, excluding food and energy, rose 0.3%; grocery prices rose 0.4%, beef and electricity each climbed 0.9%, restaurant prices increased 0.5%, and gas rose 1%. Computer prices climbed 0.5% as chips became more expensive, while Disney, Apple TV and Peacock streaming bundles got pricier. Some shoppers are already cutting back, including on artificial Christmas trees, and economists expect the Federal Reserve to raise rates in December.  Disclosure: This video contains stock footage and content created or enhanced using AI-assisted tools.

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00:00Prices kept climbing last month, and not just at the gas pump.

00:03U.S. consumer prices rose 0.4% from September to October.

00:08That was a bit higher than economists expected.

00:11Grocery prices jumped 0.4%.

00:13Beef rose 0.9%, after soaring nearly 14% in the first half of the year.

00:20Electricity prices climbed 0.9%, the biggest jump since April.

00:24Eating out got pricier, too, with restaurant prices up 0.5%.

00:29Gas rose 1% for the month.

00:32Computer prices increased 0.5%, pushed up by more expensive chips.

00:37Even streaming got pricier.

00:39Disney's ad-supported Disney Plus and Hulu Bundle rose to $12.49 a month.

00:44Some shoppers are pulling back, like spending less on artificial Christmas trees.

00:49With inflation running hot, the Federal Reserve is likely to raise rates in December.

00:54For many families, the holiday budget just got tighter.

00:57Disclosure.

00:58This video contains stock footage and content created or enhanced using AI-assisted tools.

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