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Inflation, as measured by the Consumer Price Index for all Urban Consumers (CPI-U), rose 0.1 percent in October and 2.6 percent nationwide in the 12 months ending October ’24. Core inflation, which excludes the volatile food and energy categories, rose 0.2 percent from last month and 3.3 percent over the year. The CPI numbers reported here are not seasonally adjusted.

The Bureau of Labor Statistics (BLS) publishes Houston-specific inflation data for the months of February, April, June, August, October, and December. From October ’23 to October ’24, Houston’s inflation rate was 2.1 percent. From August ’24 to October ’24, local prices rose on average 0.2 percent. Again, the CPI numbers reported here are not seasonally adjusted.

Since October of last year, Houstonians have seen significant increases (i.e., 3.5 percent or more) in the cost of restaurant meals and electricity. The cost of shelter, apparel, and transportation rose moderately (i.e., 2.1 to 3.4 percent). The cost of food, alcoholic beverages, medical care, and education rose nominally (i.e., 0 to 1.9 percent). The price of groceries, household furnishings, new and used vehicles, and gasoline fell.

The next release of national CPI data will be on Wednesday, December 11, 2024. The next release of Houston CPI data will be on Wednesday, January 15, 2025.

Prepared by Greater Houston Partnership Research

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

Leta Wauson
Research Director
lwauson@houston.org