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Inflation, as measured by the Consumer Price Index for all Urban Consumers (CPI-U), rose 0.2 percent nationwide from August to September and 2.4 percent over the 12 months ending September ’24. Core inflation, which excludes the volatile food and energy categories, rose 0.3 percent from last month and 3.3 percent over the year. (Note: The CPI numbers reported here are not seasonally adjusted.)

Electricity, housing, medical care, motor vehicle insurance, motor vehicle repairs, and restaurant meals saw the greatest year-over-year price increases. Alcoholic beverages, airfares, apparel, food at home (i.e. groceries), recreational services, and utility gas saw modest increases. Gasoline, household furnishings, and new and used cars and trucks saw price declines. 

The next release of CPI data will be on Wednesday, November 13, 2024.

Prepared by Greater Houston Partnership Research

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@houston.org

Clara Richardson
Research Analyst
crichardson@houston.org