Consumer prices rose about as expected in September, based on the latest figures from the US Labor Department and what economists’ had forecast. The Consumer Price Index, or CPI, increased 0.2% last month after rising 0.1% in August.
Increases in categories like energy, rents and mortgages, and medical care had less impact overall as food prices did not rise for the first time in four months. The price of clothing actually dropped for the first time in five months.
Stripping out food and energy prices, core inflation picked up 0.1% in September, the second such monthly increase. There, economists were expecting a higher 0.2% figure.
On an annual basis from September 2012 to September 2013, the inflation rate rose 1.2% as compared to 1.5% through the twelve months ended August. Finally, the core inflation rate rose 1.7% over the past year versus the prior government reported increase of 1.8%.
Here is a table of major consumer prices by category collected by the Bureau of Labor Statistics (BLS) watches:
US Inflation: March 2013 – September 2013 Consumer Prices
| Mar 2013 | Apr 2013 | May 2013 | June 2013 | Jul 2013 | Aug 2013 | Sept 2013 | 12 Month | |
| All items | -0.2 | -0.4 | 0.1 | 0.5 | 0.2 | 0.1 | 0.2 | 1.2 |
| Food | .0 | 0.2 | -0.1 | 0.2 | 0.1 | 0.1 | .0 | 1.4 |
| Food at home | -0.1 | 0.1 | -0.3 | 0.2 | 0.1 | 0.1 | .0 | 1.0 |
| Food away from home | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 1.9 |
| Energy | -2.6 | -4.3 | 0.4 | 3.4 | 0.2 | -0.3 | 0.8 | -3.1 |
| Energy commodities | -4.1 | -7.9 | -0.1 | 5.7 | 1.0 | .0 | 0.9 | -7.0 |
| Gasoline (all types) | -4.4 | -8.1 | .0 | 6.3 | 1.0 | -0.1 | 0.8 | -7.5 |
| Fuel oil | -2.1 | -4.4 | -2.9 | -0.5 | 1.1 | 1.2 | 0.9 | -3.1 |
| Energy services | -0.2 | 1.4 | 1.2 | 0.1 | -1.0 | -0.7 | 0.8 | 3.7 |
| Electricity | -0.6 | 0.5 | 0.8 | 0.2 | -0.3 | -0.1 | 0.5 | 3.2 |
| Utility (piped) gas service | 1.0 | 4.4 | 2.4 | -0.4 | -2.8 | -2.3 | 1.8 | 5.3 |
| All items less food, energy | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 1.7 |
| Comm. less food, energy | -0.1 | .0 | .0 | 0.2 | .0 | .0 | -0.1 | -0.1 |
| New vehicles | 0.1 | 0.3 | .0 | 0.3 | 0.1 | .0 | 0.2 | 1.2 |
| Used cars and trucks | 1.2 | 0.6 | -0.1 | -0.4 | -0.4 | -0.1 | .0 | 0.4 |
| Apparel | -1.0 | -0.3 | 0.2 | 0.9 | 0.6 | 0.1 | -0.5 | 0.8 |
| Medical care | 0.1 | 0.1 | -0.5 | 0.5 | 0.4 | 0.4 | 0.1 | 0.2 |
| Services less energy | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 2.4 |
| Shelter | 0.2 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 2.4 |
| Transportation | 0.2 | -0.2 | 0.4 | -0.1 | 0.4 | -0.5 | 0.3 | 2.4 |
| Medical care | 0.3 | -0.1 | .0 | 0.4 | 0.1 | 0.7 | 0.3 | 3.1 |
And here, the Consumer Price Index summary that the BLS released on Thursday, October 30, 2013.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.2% before seasonal adjustment.
The energy index rose 0.8% in September and accounted for about half of the seasonally adjusted all items increase. All the major energy component indexes rose in September. The food index was unchanged, with declines in the indexes for fruits and vegetables and for nonalcoholic beverages offsetting increases in other indexes.
The index for all items less food and energy rose 0.1% in September, the same increase as in August. The shelter and medical care indexes also advanced and accounted for most of this increase. The indexes for new vehicles and for airline fares rose as well, while the apparel and recreation indexes declined.
The all items index increased 1.2% over the last 12 months; this was the smallest 12-month increase since April. The index for all items less food and energy has risen 1.7% over the last year with the shelter and medical care indexes both up 2.4%. The food index has risen 1.4%, while the energy index has declined 3.1%.
Food Inflation
The food index was unchanged in September after rising in each of the three previous months. The index for food at home was unchanged, as declines in the indexes for fruits and vegetables and nonalcoholic beverages offset advances in the other major grocery store food group indexes. The fruits and vegetables index fell 0.9% in September after rising in July and August, as the fresh vegetables index fell 1.4%. The index for nonalcoholic beverages declined for the third month in a row, falling 0.2%.
In contrast to these declines, the index for other food at home rose 0.4% in September after declining in August. The cereals and bakery products index rose 0.2%, while the indexes for meats, poultry, fish, and eggs and for dairy and related products both increased 0.1%. The food at home index has increased 1.0% over the last 12 months. The fruits and vegetables index rose 3.0%, but the indexes for nonalcoholic beverages and for other food at home both declined over the span. The index for food away from home rose 0.1% in September, its smallest increase since February, and has risen 1.9% over the past 12 months.
Energy Inflation
The energy index rose 0.8% in September after declining in August. All the major energy component indexes increased in September.
The gasoline index, which declined slightly in August, rose 0.8%. (Before seasonal adjustment, gasoline prices fell 1.3% in September.) The fuel oil index rose 0.9% after increasing 1.2% in August. The index for natural gas turned up in September, rising 1.8% after falling 2.3% in August.
Similarly, the electricity index increased 0.5% after falling 0.1% in August. Despite the September increase, the energy index has declined 3.1% over the past 12 months, with the gasoline index declining 7.5% but the electricity and natural gas indexes both increasing.
All items less food and energy
The index for all items less food and energy rose 0.1% in September, the same increase as in August. The shelter index rose 0.2% for the fourth month in a row. The indexes for rent and owners’ equivalent rent both rose 0.2% while the index for lodging away from home fell 0.4%.
The medical care index increased 0.3% in September after rising 0.6% in August. Within medical care, the hospital services index rose 0.7%, while the index for prescription drugs increased 0.2%. The new vehicles index rose 0.2% in September after being unchanged in August, while the index for airline fares increased 0.5% after declining in each of the three previous months. The index for tobacco rose slightly in September, while the indexes for used cars and trucks, for household furnishings and operations, and for personal care were all unchanged. The apparel index, which had risen four months in a row, fell 0.5% in September and the recreation index fell 0.1%.
The index for all items less food and energy increased 1.7% for the 12 months ending September, a slightly smaller increase than the 1.8% figure for the 12 months ending August. Several components have exhibited very modest increases over the past 12 months, including apparel (0.8%), airline fares (0.8%), used cars and trucks (0.4%), and recreation (0.2%).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.2% over the last 12 months to an index level of 234.149 (1982-84=100). For the month, the index increased 0.1% prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.0% over the last 12 months to an index level of 230.537 (1982-84=100). For the month, the index increased 0.1% prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.2% over the last 12 months. For the month, the index increased 0.1% on a not seasonally adjusted basis. Please note that the indexes for the post-2011 period are subject to revision.
The Consumer Price Index for October 2013 is scheduled for release on Wednesday, November 20, 2013, at 8:30 a.m. (EDT).