Labor Dept.: U.S. consumer prices grew 0.4 percent in October

Nov. 13 (UPI) -- The U.S. Consumer Price Index, the gauge that measures what Americans pay for common products, grew by 0.4 percent in October, the Labor Department said Wednesday.

The growth surpassed most expectations, which anticipated index growth of 0.3 percent.

The cost of energy was the main catalyst for the growth last month, the Labor Department report said. Those costs rose 2.7 percent after declines in recent months, and accounted for more than half of the CPI increase.

The gasoline index rose 3.7 percent and major energy component indexes also inched higher, Wednesday's report said.

Increases were also seen in the medical care, recreation and food sectors, the report said. The food index rose 0.2 percent -- and all items aside from food and energy climbed marginally, including used automobiles, shelter and personal care. The shelter growth, however, grew by the smallest amount since 2013.

The CPI has increased 1.8 percent over the past 12 months, the report noted.

The department will release its Producer Price Index on Friday.