The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in October on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.2 percent before seasonal adjustment.
US Inflation: August – October 2012 Consumer Prices
| Aug 2012 |
Sept 2012 |
Oct 2012 |
12 Month |
|
| All items | 0.6 | 0.6 | 0.1 | 2.2 |
| Food | 0.2 | 0.1 | 0.2 | 1.7 |
| Food at home | 0.1 | .0 | 0.3 | 1.0 |
| Food away from home | 0.3 | 0.2 | 0.1 | 2.7 |
| Energy | 5.6 | 4.5 | -0.2 | 4.0 |
| Energy commodities | 8.6 | 6.7 | -0.5 | 8.6 |
| Gasoline (all types) | 9.0 | 7.0 | -0.6 | 9.1 |
| Fuel oil | 4.6 | 4.1 | 1.1 | 5.6 |
| Energy services | 0.8 | 0.7 | 0.3 | -3.0 |
| Electricity | 0.2 | 0.2 | 0.5 | -1.2 |
| Utility (piped) gas service | 2.8 | 2.0 | -0.2 | -8.4 |
| All items less food, energy | 0.1 | 0.1 | 0.2 | 2.0 |
| Comm. less food, energy | -0.2 | -0.2 | -0.1 | 0.7 |
| New vehicles | 0.2 | -0.1 | -0.1 | 1.0 |
| Used cars and trucks | -0.9 | -1.4 | -0.9 | -2.1 |
| Apparel | -0.5 | 0.3 | 0.7 | 3.0 |
| Medical care | 0.3 | -0.1 | .0 | 3.0 |
| Services less energy | 0.1 | 0.3 | 0.3 | 2.5 |
| Shelter | 0.2 | 0.2 | 0.3 | 2.3 |
| Transportation | .0 | 0.5 | 0.7 | 2.0 |
| Medical care | 0.2 | 0.4 | .0 | 3.9 |
The shelter index increased 0.3 percent, its largest increase since March 2008, and accounted for over half of the seasonally adjusted all items increase. The index for all items less food and energy rose 0.2 percent, as the rise in the shelter index and increases in the indexes for apparel and airline fare more than offset declines in the indexes for used cars and trucks, new vehicles, and recreation.
The food index increased 0.2 percent in October with the index for food at home rising 0.3 percent, its largest increase since September 2011. The energy index, which had risen sharply in August and September, declined slightly in October. Major energy component indexes were mixed, with declines in the indexes for gasoline and natural gas more than offsetting increases in the indexes for electricity and fuel oil.
The 12-month change in the index for all items was 2.2 percent in October, an increase from the September figure of 2.0 percent. The 12-month change in the index for all items less food and energy remained at 2.0 percent. The food index rose 1.7 percent over the last 12 months, and the energy index increased 4.0 percent.
Food Inflation
The food index rose 0.2 percent in October after a 0.1 percent increase in September. The index for food at home, which was unchanged in September, rose 0.3 percent in October. Four of the six major grocery store food groups posted increases of at least 0.4 percent. The index for dairy and related products rose 0.8 percent in October. This was its third straight increase but it still has declined 1.1 percent over the last 12 months. The index for meats, poultry, fish, and eggs also rose 0.8 percent, while the fruits and vegetables index rose 0.6 percent and the index for cereals and bakery products increased 0.4 percent; all three indexes declined in September. In contrast, the index for nonalcoholic beverages declined 0.3 percent and the index for other food at home fell 0.1 percent. The food at home index has risen 1.0 percent over the last 12 months. The index for food away from home increased 0.1 percent in October, its smallest increase since February, and has risen 2.7 percent over the last 12 months.
Energy Inflation
The energy index, which rose sharply in August and September, declined 0.2 percent in October. The gasoline index, which had risen 16.6 percent from July to September, declined 0.6 percent in October. (Before seasonal adjustment, gasoline prices decreased 2.1 percent in October.) The index for natural gas also declined after increasing in previous months, falling 0.2 percent. In contrast, the index for electricity rose 0.5 percent in October, its largest increase since September 2011. The index for fuel oil also rose in October, increasing 1.1 percent. The indexes for gasoline and fuel oil have increased over the last 12 months, rising 9.1 percent and 5.6 percent, respectively. The electricity and natural gas indexes have declined, with the former falling 1.2 percent and the latter decreasing 8.4 percent.
All items less food and energy
The index for all items less food and energy increased 0.2 percent in October after increasing 0.1 percent in each of the three previous months. The shelter index rose 0.3 percent as the rent index increased 0.4 percent, its largest rise since June 2008. The index for owners’ equivalent rent increased 0.2 percent, and the index for lodging away from home advanced 0.5 percent. The apparel index increased 0.7 percent in October after a 0.3 percent increase in September. The index for airline fares rose for the second straight month, increasing 2.4 percent in October. The index for medical care was unchanged in October; this was the first time since July 2010 the index failed to rise. The index for used cars and trucks fell 0.9 percent, its fourth straight decrease. Several indexes posted slight declines in October; the indexes for new vehicles, recreation, household furnishings and operations, and tobacco all fell 0.1 percent.
The index for all items less food and energy has risen 2.0 percent over the last 12 months. Indexes that have been rising more quickly include medical care (3.7 percent), apparel (3.0 percent) and shelter (2.3 percent). Among those rising more slowly or declining are the indexes for new vehicles (1.0 percent), airline fares (-0.5 percent) and used cars and trucks (-2.1 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.2 percent over the last 12 months to an index level of 231.317 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.2 percent over the last 12 months to an index level of 227.974 (1982-84=100). For the month, the index decreased 0.1 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.9 percent over the last 12 months. For the month, the index was unchanged on a not seasonally adjusted basis. Please note that the indexes for the post-2010 period are subject to revision.
The Consumer Price Index for November 2012 is scheduled to be released on Friday, December 14, 2012, at 8:30 a.m. (EST).