Consumer Prices Rose 1.9% in 2018
Washington, DC, January 11, 2019--The Consumer Price Index for All Urban Consumers declined 0.1% in December on a seasonally adjusted basis after being unchanged in November,the U.S. Bureau of Labor Statistics reported.
Over the last 12 months, the all items index increased 1.9% before seasonal adjustment.
The seasonally adjusted decline in the all items index was caused by a sharp decrease in the gasoline index, which fell 7.5% in December. This decline more than offset increases in several indexes including shelter, food, and other energy components. The energy index fell 3.5%, as the gasoline and fuel oil indexes fell, but the indexes for natural gas and for electricity increased. The food index increased 0.4% in December.
The index for all items less food and energy increased 0.2% in December, the same increase as in October and November. Along with the index for shelter, the indexes for recreation, medical care, and household furnishings and operations all increased in December, while the indexes for airline fares, used cars and trucks, and motor vehicle insurance all declined.
The all items index increased 1.9% for the 12 months ending December; this was the first time the 12-month change has been under 2.0% since August 2017. The index for all items less food and energy rose 2.2% over the last 12 months, the same increase as for the 12 months ending November. The food index rose 1.6% over the past year, while the energy index declined.