NY Inflation Eases Down To 6% Over Past Year: New Data

NEW YORK CITY — Inflation in New York City eased ever-so-slightly over the past year, according to new consumer price data.

Consumer inflation in the city stood at 6 percent in October from a year earlier and up 0.1 percent from September, Bureau of Labor Statistics data released Thursday shows.

The year-over-year increase is down from 6.2 percent in September, according to data.

Economists saw the national inflation data — which showed lower-than-expected 7.7 percent increase from last year — as a sign that higher prices could be starting to ease.

“With supply shortages normalizing, deflationary pressure is now finally showing up," said Paul Ashworth, chief North American economist at Capital Economics, a consulting firm.

But New Yorkers likely won't see the same silver lining.

Over the past year, food and energy prices increased 8.6 percent and 15 percent, respectively, according to the new data.

And some food items are substantially more expensive than a year ago, the data shows.

Cereals and bakery products are 16.7 percent more expensive than last October, according to the data. Fruits and vegetables are 10.5 percent pricier.

Since September, food prices increased 0.6 percent, the data shows.

"Four of the six grocery categories recorded increases," a Bureau of Labor Statistics report states. "Among grocery items with higher October prices were nonfrozen noncarbonated juices and drinks and eggs."

Every item group tracked by the government is more expensive than a year ago, the data shows, but not all price increases were the same.

Prices for items other than gas and food increased 4.9 percent in the past year, the data shows.

The Associated Press contributed to this report.