Press Release - February 14, 2018 CONSUMER PRICE INDEX – JANUARY 2018
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.1 percent before seasonal adjustment.
The seasonally adjusted increase in the all items index was broad-based, with increases in the indexes for gasoline, shelter, apparel, medical care, and food all contributing. The energy index rose 3.0 percent in January, with the increase in the gasoline index more than offsetting declines in other energy component indexes. The food index rose 0.2 percent with the indexes for food at home and food away from home both rising.
The index for all items less food and energy increased 0.3 percent in January. Along with shelter, apparel, and medical care, the indexes for motor vehicle insurance, personal care, and used cars and trucks also rose in January. The indexes for airline fares and new vehicles were among those that declined over the month.
The all items index rose 2.1 percent for the 12 months ending January, the same increase as for the 12 months ending December. The index for all items less food and energy rose 1.8 percent over the past year, while the energy index increased 5.5 percent and the food index advanced 1.7 percent.
Food
The food index increased 0.2 percent in January. The index for food away from home increased 0.4 percent, its largest monthly increase since last January. The food at home index increased 0.1 percent. Major grocery store food group indexes were mixed, with two rising, one falling, and three unchanged. The index for fruits and vegetables rose 0.5 percent reflecting a 1.9-percent increase in the fresh fruits index and a 1.2-percent decline in the index for fresh vegetables. The index for cereals and bakery products rose in January, increasing 0.3 percent.
The index for meats, poultry, fish, and eggs declined in January, falling 0.2 percent after rising in December. The indexes for dairy and related products, nonalcoholic beverages, and other food at home were all unchanged in January.
Over the last 12 months, the index for food away from home increased 2.5 percent. The food at home index rose 1.0 percent, with four of the six major grocery store food groups rising over the span. The fruits and vegetables index increased the most, at 3.5 percent, while the indexes for dairy and related products and cereals and bakery products both declined over the last year.
Energy
The energy index rose 3.0 percent in January. The gasoline index increased 5.7 percent in January after falling in December. (Before seasonal adjustment, gasoline prices increased 3.2 percent in January.) The fuel oil index also increased in January, rising 9.5 percent. In contrast, the index for natural gas fell 2.6 percent in January and the electricity index decreased 0.2 percent.
All the major energy component indexes increased over the past 12 months. The gasoline index rose 8.5 percent and the fuel oil index rose 22.5 percent. The electricity index rose more modestly, increasing 2.4 percent, and the index for natural gas increased slightly, rising 0.2 percent.
page source https://www.bls.gov/
