The Consumer Price Index for All Urban Consumers reversed course slightly in October.  After climbing 3.5% (seasonally adjusted) over the last year, the CPI decreased 0.1%.  The key factor was energy costs. From the Bureau of Labor Statistics release:

A decline in the energy index more than offset small increases in the indexes for food and all items less food and energy to create the all items decline. The energy index turned down in October after increasing in each of the three previous months as the gasoline and household energy indexes declined after a series of seasonally adjusted increases. The food index rose in October, but posted its smallest increase of the year as the fruits and vegetables index declined sharply.

The index for all items less food and energy increased 0.1 percent in October; this was the same increase as last month and matches its smallest increase of the year. While the shelter and medical care indexes accelerated in October and the apparel index turned up, the indexes for new vehicles, used cars and trucks, airline fare, and recreation all declined.

Here's a look at the CPI for All Urban Consumers over the last year:

Read the release here.