January 13, 2021
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% for December 2020 after increasing 0.2% in November, on a seasonally adjusted basis according to U.S. Bureau of Labor Statistics (BLS). The all items index rose 1.4% before seasonal adjustment over the last year. BLS stated, “the seasonally adjusted increase in the all items index was driven by an 8.4-percent increase in the gasoline index, which accounted for more than 60 percent of the overall increase.”
The all items less food and energy index increased 0.1% in December, after increasing 0.2% in November. The indexes for shelter index, apparel, motor vehicle insurance, personal care and new vehicles rose 0.1%, 1.4%, 1.4%, 0.4% and 0.4%, respectively in December. The index for household furnishings and operations rose 0.2% in December. The indexes used cars and trucks fell 1.2%, recreation declined 0.3% and medical care decreased 0.2%.
The index for food rose 0.4% in December, while the index for food at home also increased 0.4%. The indexes for other food at home increased 0.7% in December. The nonalcoholic beverages index increased 1.1%. The index for cereals and bakery products rose 0.4% while the index for dairy and related products rose 0.8%. The index for meats, poultry, fish, and eggs fell 0.2% in December. The index for food away from home also rose 0.4% in December, however, the index for fruits and vegetables fell 0.2% over the month.
The index for energy climbed 4.0% in December. An 8.4% growth was recorded in the gasoline index. The index for electricity index increased 0.4% in December while the natural gas index also decreased by 0.8% in December.
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