A pull back in fuel priced helped reign in U.S. consumer inflation in October, while prices for housing and food increased.

The U.S. Labor Department said today its consumer price index rose a seasonally adjusted 0.2% last month after jumping 1.2% in September.

The closely watched “core” index, which excludes volatile food and energy items, rose 0.2% after inching up 0.1% in September.

Year over year, consumer prices rose 4.3% on an unadjusted basis. The core index rose 2.1% in annual terms.

Cheaper gasoline helped push down energy prices for the first time in four months. Energy prices fell 0.2%, led by a 4.5% drop in gasoline prices and a 0.4% dip in fuel oil prices. However, natural gas prices jumped 14% last month, and electricity prices rose 0.7%.

Housing prices, which account for nearly 41% of the index, rose 0.9% after rising 0.4% in September. Food prices advanced 0.3% as costs for beef, pork and fruits and vegetables climbed. Medical-care prices increased by 0.5% Transportation prices fell 1.3% and clothing prices slipped 0.4%.

Separately, U.S. business inventories rose 0.5% to a seasonally adjusted US$1.282 trillion as auto dealers and other retailers built stockpiles, the U.S. Commerce Department said.

The increase was the largest jump in inventories since an identical rise in February.

Business sales advanced 0.6%, rising to US$1.022 trillion. The inventory-to-sales ratio dipped 0.01 to 1.25 in September, Commerce said.