Consumer Price Index Inched Up 0.1% in December

Washington, DC, January 12, 2018-The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in December on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported.

Over the last 12 months, the all items index rose 2.1% before seasonal adjustment.

An increase of 0.4% in the shelter index accounted for almost 80% of the one-month all items increase. The food index rose in December, with the indexes for food at home and food away from home both increasing. The energy index, which rose sharply in November, declined in December as the gasoline index decreased.

The index for all items less food and energy increased 0.3% in December, its largest increase since January 2017. Along with the shelter index, the indexes for medical care, used cars and trucks, new vehicles, and motor vehicle insurance were among those that increased in December. The indexes for apparel, airline fares, and tobacco all declined over the month. The all items index rose 2.1% for the 12 months ending December, compared to 2.2% for the 12 months ending November. The index for all items less food and energy increased 1.8% over the last year; the 12-month change has now been either 1.7% or 1.8% for eight consecutive months. The food index rose 1.6% over the past year; the index for energy increased 6.9%, with all of its major component indexes rising during 2017.