The Consumer Price Index increased by 0.2% in October, lower than the expected increase of 0.3%, to an index value of 218.711 (1982-84=100), after increasing by 0.1% in September and 0.3% August. Over the year the CPI has increased by 1.2% before seasonal adjustment. The food index increased by 0.1%, after increasing by 0.3% in September and 0.2% in August and is up by 1.4% over the year. Energy Prices increased by 2.6% after increasing by 0.7% in September and are up 5.9% over the year. Excluding food and energy prices,the Core CPIremained unchanged as it was in September and August and has advanced by 0.6% over the year.
Housing Starts in October decreased by 11.7% to an annual pace of 519,000 lower than the expected level of 599,000, from the revised figure of 588,000 in September (originally reported at 580,000). Over the year the figure has decreased by 1.9% from the October 2009 rate of 529,000. Building Permits increased by 0.5% over the month to 550,000, lower than the expected level of 577,000, following 547,000 permits annualized in September (originally reported at 539,000). Over the year, Building Permits decreased by 4.5% from the 576,000 pace in October 2009.
Crude inventories are expected today at 10:30 AM EST. For the week ending November 05, U.S. commercial crude oil inventories had decreased by 3.3 million barrels from the previous week to 364.9 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 14.1 million barrels per day during this period, 153 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 8.1 million barrels per day, down by 489 thousand barrels per day from the previous week.
Upcoming Releases
Crude Inventories (11/17 at 10:30 AM EST)
Initial Claims (11/18 at 8:30 AM EST)
Leading Indicators (11/18 at 10:00 M EST)
GDP Q3 Preliminary (11/23 at 8:30AM EST)
