Consumer prices rose moderately in October but there was little sign of inflation as the cost of autos, clothing and hotels fell.

The Consumer Price Index rose 0.2 percent last month, the Labor Department said, mostly due to higher gas prices.

But excluding the volatile energy and food categories, the core index was unchanged for the third straight month. In the past year, core prices have risen by only 0.6 percent, the smallest annual rise since the index began in 1957.

The weak economy is keeping a lid on prices. Consumers, facing high unemployment and slow wage growth, are restraining their spending. Retailers and other companies don't want to risk losing frugal shoppers by raising prices.

The report provides support for the Federal Reserve's recent moves to boost the economy. The central bank said earlier this month that it would buy $600 billion in Treasury bonds in an effort to lower interest rates and spur more borrowing and spending.

That decision has come under extensive criticism. Many leading Republican economists said earlier this week that the Fed's actions risk triggering runaway inflation.

But several economists said Wednesday's report shows that concerns about inflation are misplaced.

"Fears about a potential outbreak of inflation from the Fed's recent moves are massively overblown and are completely out of sync with the reality of extremely competitive markets for ... products and services," said Brian Bethune, an economist at IHS Global Insight.