Date: January 14, 2019
The Bureau of Labour Statistics reported that, “the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis after being unchanged in November. Over the last 12 months, the all items index increased 1.9 percent before seasonal adjustment.”
The report mentioned that in December, all items index decreased as a result of a sharp decline in the gasoline index which fell 7.5 percent. This was offset my increases in indexes such as shelter, food, and other energy components. The energy index fell 3.5 percent and fuel oil indexes fell, however the indexes for natural gas and electricity rose. For December, there was a 0.4 percent climb in food index.
The same increase observed in October and November was reflected in December, as the index for all items less food and energy rose by 0.2 percent. Along with the shelter index, there was an increase in the indexes for recreation, medical care, household furnishings and operations. However, in December, there was a decline in the indexes for airline fares, used cars and trucks and motor vehicle insurance.
For the 12 months period ending December, all items index rose 1.9 percent, which was the first time the 12-month change has been under 2.0 percent since August 2017.
The index for all items less food and energy rose 2.2 percent over the last 12 months, the same increase as for the 12 months ending November. Whereas, the food index increased by 1.6 percent over the last 12 months, but a decline was indicated in the energy index by 0.3 percent.
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