October 12, 2023
In September, the Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.4 percent on a seasonally adjusted basis, following a 0.6 percent increase in August. Over the past 12 months, the overall price index for all items increased by 3.7 percent before seasonal adjustment.
The main contributors to the monthly increase in all items were the index for shelter, accounting for over half of the increase, and an increase in the gasoline index. Energy components showed mixed trends in September, but the overall energy index rose by 1.5 percent for the month. The food index increased by 0.2 percent in September, consistent with the previous two months, with the index for food at home rising by 0.1 percent and the index for food away from home increasing by 0.4 percent.
Excluding food and energy, the index for all items increased by 0.3 percent in September, the same as in August. Some of the notable increases in this category included rent, owners’ equivalent rent, lodging away from home, motor vehicle insurance, recreation, personal care, and new vehicles. However, the indexes for used cars and trucks and for apparel saw decreases in September.
Over the 12 months ending in September, the overall all items index increased by 3.7 percent, which was the same as the 12-month increase in August. The all items index, excluding food and energy, rose by 4.1 percent over the last year. The energy index decreased by 0.5 percent over the 12 months ending in September, while the food index increased by 3.7 percent during the same period.
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