U.S. CPI rose after two months of decline...in line with expectation

The Consumer Price Index increased 0.2% during October (0.2% y/y) and countered declines during the prior two months. Prices excluding food & energy increased 0.2% (1.9% y/y) for the second straight month. A 0.2% increase in both total and core prices were expected by market participants.

This picture is different from last two indicators, imports price and PPI in October.
Consumer price continue to increase despite downward pressure of those two. This seems meaningful in light of demand side pressure.

Consumer Price Index, All Urban Consumers (%)	Oct	Sep	Aug	Oct Y/Y	2014	2013	2012
Total	0.2	-0.2	-0.1	0.2	1.6	1.5	2.1
Total less Food & Energy	0.2	0.2	0.1	1.9	1.7	1.8	2.1
Goods less Food & Energy	-0.1	0.0	-0.1	-0.7	-0.3	-0.0	1.3
Services less Energy	0.3	0.3	0.1	2.8	2.5	2.4	2.4
Food	0.1	0.4	0.2	1.6	2.4	1.4	2.6
Energy	0.3	-4.7	-2.0	-17.1	-0.3	-0.7	0.9