U.S. Consumer Price Index up due to fuel price increase

 

According to the Bureau of Labor Statistics the Consumer Price Index for all urban customers increased by 0.5% in September on a seasonally adjusted basis. Over the last 12 months, the all items index rose 2.2%. The gasoline index increased 13.1%, this accounted for about three-fourths of the seasonally adjusted all items increase according to the Bureau. The other major energy component indexes reported mixed results, while the food index rose slightly. The index for all items less food and energy grew by 0.1% in September.

In continuation of the trends noted for August and July, the shelter index continued to increase, and the indexes for motor vehicle insurance, recreation, education, and wireless telephone services also rose. However, these increases were tempered by a decline in the indexes for new vehicles, household furnishings and operations, medical care, and used cars and trucks.

According to the Bureau, “the 12-month change in the index for all items less food and energy remained at 1.7% for the fifth month in a row.” The energy index rose 10.1% over the past 12 months, its largest 12-month increase since the period ending March 2017 as per the Bureau, while the food index rose by 1.2% over the last year. The Bureau also indicated that “Hurricane Irma had a small impact on data collection in September, while data collection was affected in some areas in Florida.”

 

Consumer Price Index

Bureau of Labor Statistics

2017-10-13T15:36:49+00:00