Latest News

BLS: CPI decreased 0.1% in December; Core CPI increased 0.3%


by Calculated Risk on 1/12/2023 08:32:00 AM

From the BLS:

The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a
seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor
Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before
seasonal adjustment.

The index for gasoline was by far the largest contributor to the monthly all items decrease, more than
offsetting increases in shelter indexes. The food index increased 0.3 percent over the month with the
food at home index rising 0.2 percent. The energy index decreased 4.5 percent over the month as the
gasoline index declined; other major energy component indexes increased over the month.

The index for all items less food and energy rose 0.3 percent in December, after rising 0.2 percent
in November. Indexes which increased in December include the shelter, household furnishings and
operations, motor vehicle insurance, recreation, and apparel indexes. The indexes for used cars and
trucks, and airline fares were among those that decreased over the month.

The all items index increased 6.5 percent for the 12 months ending December; this was the smallest
12-month increase since the period ending October 2021. The all items less food and energy index rose
5.7 percent over the last 12 months. The energy index increased 7.3 percent for the 12 months ending
December, and the food index increased 10.4 percent over the last year; all of these increases were
smaller than for the 12-month period ending November.

emphasis added

CPI was below expectations and core CPI was at expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.

Thursday: CPI, Unemployment Claims

Previous article

U.S. inflation data to fuel stock market rally

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News