Consumer Prices Rose 0.3% in December

Washington, DC, January 23, 2017—The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in December on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics has reported.

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

Continuing their recent trends, the shelter and gasoline indexes increased in December and were largely responsible for the seasonally adjusted all items increase. The shelter index rose 0.3% in December, while the gasoline index increased 3.0%.

Recent trends also continued in the food indexes, as the food at home index again declined, offsetting an increase in the index for food away from home and leaving the overall food index unchanged for the sixth consecutive month. The energy index continued to rise, advancing 1.5% in December, primarily due to an increase in the gasoline index.

The index for all items less food and energy rose 0.2% in December, the same increase as in November. Along with the shelter index, the indexes for motor vehicle insurance, medical care, education, airline fares, used cars and trucks, and new vehicles were among the indexes that increased. The indexes for apparel and communication declined in December.

The all items index rose 2.1% for the 12 months ending December. This figure has been steadily rising since July, and is the largest 12-month increase since the period ending June 2014. The index for all items less food and energy rose 2.2% for the 12 months ending December, and the energy index increased 5.4%. In contrast, the food index declined 0.2% over the last 12 months.