On Tuesday, September 13th, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers rose 0.1% in August on a seasonally adjusted basis after being unchanged in July. Over the last 12 months, the all items index increased 8.3% before seasonal adjustment.
Increases in the shelter, food, and medical care indexes were the most significant contributors to the broad-based monthly all items increase.
A 10.6% decline in the gasoline index offset most of those increases.
The food index continued to rise, increasing 0.8% over the month as the food at home index rose 0.7%.
The energy index fell 5.0% over the month as the gasoline index declined, but the electricity and natural gas indexes increased.
12-Month Percentage Change in CPI Over 20 Years
BLS further reported that the index for all items less food and energy rose 0.6% in August, a larger increase than in July. The indexes for shelter, medical care, household furnishings and operations, new vehicles, motor vehicle insurance, and education were among those that increased over the month.
Some indexes declined in August, including those for airline fares, communication, and used cars and trucks.
The all-items index increased 8.3% for the 12 months ending August, a smaller figure than the 8.5% increase for the period ending July. The all-items-less-food-and-energy index rose 6.3% over the last 12 months. The energy index increased 23.8% for the 12 months ending August, a smaller increase than the 32.9% increase for the period ending July. The food index rose 11.4% over the last year, the most significant 12-month increase since the period ending May 1979.
Here are a few of the more significant jumps from the past year:
|Food at home||11.40%|
|Food away from home||13.50%|
|Gasoline (all types)||25.60%|
|Utility (piped) gas service||33.00%|
More economic data will be released later this week, including MBA Mortgage Applications on Wednesday, Jobless Claims and Retail Sales on Thursday, and Consumer Sentiment on Friday.