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In the U.S., topline inflation is up across DPI categories for the second consecutive month after five straight months of deflation (0.5% in the all-items index and 0.4% in the all-items less grocery index). Prices remain down year-over-year in the all-items index (-0.2%) and down for the all-items less grocery index (-1.8%).
In October, inflation outside of travel was primarily in pet products (1.3% MoM inflation), appliances (1.0%), and grocery, alcohol, and apparel (all 0.7% MoM inflation).
In the midst of the holiday travel booking season all flights showed 2.6% MoM inflation, while domestic flights increased 2.9% MoM. Consistent with typical travel patterns, international and domestic hotels showed month-over-month deflation (-3.7% and -2.1%, respectively).
Deflation in October outside of travel occurred in tablets (-3.6% MoM), televisions (-1.6%), and toys (-1.1%).
In grocery, inflation in October (0.7%) was driven by fruits and vegetables (1.4%), beverage materials including coffee and tea (1.3%), and juice and non-alcoholic beverages (1.2%)
Across the pond, consumers in the U.K. are facing continued price rises in grocery prices., where food prices are up 0.7% MoM in October, resulting in a 3.5% year-over-year for the twelve months ending in October.
Inflation is widespread across the U.S. in September with nearly all states (49) showing inflation in October (or near-zero positive inflation) with only 2 states showing deflation month-over-month.