Consumer Price Index Increased 0.5 Percent
- Stephen H Akin
- Feb 12
- 4 min read
The January increase in the CPI follows Decembers increase of 0.4 percent
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in January, after rising 0.4 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment.
The index for shelter rose 0.4 percent in January, accounting for nearly 30 percent of the monthly all items increase. The energy index rose 1.1 percent over the month, as the gasoline index increased 1.8 percent. The index for food also increased in January, rising 0.4 percent as the index for food at home rose 0.5 percent and the index for food away from home increased 0.2 percent.
The index for all items less food and energy rose 0.4 percent in January. Indexes that increased over the month include motor vehicle insurance, recreation, used cars and trucks, medical care, communication, and airline fares. The indexes for apparel, personal care, and household furnishings and operations were among the few major indexes that decreased in January.
The all items index rose 3.0 percent for the 12 months ending January, after rising 2.9 percent over the 12 months ending December. The all items less food and energy index rose 3.3 percent over the last 12 months. The energy index increased 1.0 percent for the 12 months ending January. The food index increased 2.5 percent over the last year
Food
The index for food increased 0.4 percent in January. The food at home index rose 0.5 percent over the month as four of the six major grocery store food group indexes increased. The index for meats, poultry, fish, and eggs rose 1.9 percent over the month, as the index for eggs increased 15.2 percent. This was the largest increase in the eggs index since June 2015 and it accounted for about two thirds of the total monthly food at home increase.
The index for other food at home rose 0.3 percent in January and the index for nonalcoholic beverages increased 0.9 percent. The dairy and related products index rose 0.3 percent over the month.
The index for fruits and vegetables fell 0.5 percent in January, as the index for tomatoes declined 2.0 percent and the index for other fresh vegetables fell 2.6 percent. The cereals and bakery products index decreased 0.4 percent over the month as the breakfast cereal index fell 3.3 percent.
The food away from home index rose 0.2 percent in January. The index for limited service meals rose 0.3 percent over the month and the index for full service meals rose 0.1 percent.
The index for food at home rose 1.9 percent over the last 12 months. The meats, poultry, fish, and eggs index rose 6.1 percent over the last 12 months as the eggs index increased 53.0 percent. The index for nonalcoholic beverages increased 2.2 percent over the same period, while the index for other food at home rose 0.8 percent and the index for dairy and related products increased 1.2 percent. The cereals and bakery products index increased 0.4 percent over the year and the fruits and vegetables index rose 0.3 percent over the same period.
The food away from home index rose 3.4 percent over the last year. The index for limited service meals and the index for full service meals both rose 3.3 percent over the same period.
Energy
The energy index increased 1.1 percent in January. The gasoline index increased 1.8 percent over the month. (Before seasonal adjustment, gasoline prices also increased 1.8 percent in January.) The index for natural gas rose 1.8 percent over the month while the index for electricity was unchanged in January.
The energy index increased 1.0 percent over the past 12 months. The gasoline index fell 0.2 percent over this 12-month span and the fuel oil index fell 5.3 percent over that period. In contrast, the index for electricity increased 1.9 percent over the last 12 months and the index for natural gas rose 4.9 percent.
All items less food and energy
The index for all items less food and energy rose 0.4 percent in January. The shelter index increased 0.4 percent over the month. The index for owners’ equivalent rent rose 0.3 percent in January, as did the index for rent. The lodging away from home index increased 1.4 percent in January.
The medical care index increased 0.2 percent over the month. The index for prescription drugs increased 2.5 percent in January and the index for hospital services rose 0.9 percent over the month. The physicians’ services index increased 0.1 percent in January.
The motor vehicle insurance index rose 2.0 percent in January. The index for recreation rose 1.0 percent over the month and the index for used cars and trucks increased 2.2 percent. Other indexes that increased in January include communication, airline fares, and education. In contrast, the index for apparel fell 1.4 percent in January. The indexes for personal care and household furnishings and operations also declined over the month. The new vehicles index was unchanged in January.
The index for all items less food and energy rose 3.3 percent over the past 12 months. The shelter index increased 4.4 percent over the last year, the smallest 12-month increase since January 2022. Other indexes with notable increases over the last year include motor vehicle insurance (+11.8 percent), medical care (+2.6 percent), education (+3.8 percent), and recreation (+1.6 percent).
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