U.S. Consumer Price Index

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5% in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported, in addition over the last 12 months, the all items index rose 2.2 %.

The gasoline index saw an increased 13.1% in September and accounted for about three-fourths of the seasonally adjusted all items increase as per the Bureau. While other major energy component indexes were mixed, and the food index rose slightly.

The index for all items less food and energy increased 0.1% in September. The shelter index continued to increase, and the indexes for motor vehicle insurance, recreation, education, and wireless telephone services also rose. These increases offset declines in the indexes for new vehicles, household furnishings and operations, medical care, and used cars and trucks.

For the 12 months ended September the all items index rose 2.2% while the 12-month change has been accelerating since it was 1.6% in June 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. The food index increased 1.2% over the last year.

The food index rose 0.1% in September, the same increase as in August as per the Bureau. The index for food away from home rose 0.3%, while the index for food at home was unchanged in September after declining in August. The index for nonalcoholic beverages increased 0.4 % after falling 0.4% in August.

The energy index increased 6.1% in September following a 2.8% increase in August. The major factor in the increase was a 13.1% rise in the gasoline index, the largest monthly increase since June 2009 according to the Bureau.