Core CPI has now been below the Fed’s 2% mandate for 6 straight months, printing a 1.7% YoY gain in September (weaker than the expected 1.8% rise).

Headline CPI bounced back above 2% however, led by a 6.1% surge in Energy costs…

The index for all items less food and energy increased 0.1 percent in September following a 0.2-percent rise in August.

The shelter index rose 0.3 percent in September following a 0.5-percent increase in August. The indexes for rent and owners’ equivalent rent both rose 0.2 percent, while the index for lodging away from home increased 1.5 percent.

This is the lowest shelter inflation since April 2016…

The motor vehicle insurance index rose 0.5 percent in September; it has declined only once in the last 23 months.

The education index increased 0.3 percent, and the index for recreation rose 0.2 percent.

The indexes for alcoholic beverages, personal care, and tobacco also increased in September.

The index for new vehicles, which was unchanged in August, fell 0.4 percent in September.

The index for household furnishings and operations declined 0.3 percent, and the index for used cars and trucks continued to fall, declining 0.2 percent. The medical care index fell slightly in September, declining 0.1 percent as declines in the indexes for prescription and nonprescription drugs outweighed increases in medical care service indexes. The apparel index declined 0.1 percent in September.

Finally, Dear Janet Yellen – The index for wireless telephone services rose 0.4 percent in September, ending a streak of 14 consecutive declines.