Research >> Economics

Consumer Price Index unch% in September, Ex Fd & Engy rose 0.1%


The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

Increases in the indexes for shelter and food were offset by declines in the indexes for energy and used cars and trucks to result in the seasonally adjusted all items index being flat. The energy index fell 1.4 percent as the gasoline index declined 2.4 percent. The food index increased 0.1 percent in September after being unchanged in each of the prior 3 months.

The index for all items less food and energy rose 0.1 percent in September after increasing 0.3 percent in each of the last 3 months. Along with the shelter index, the indexes for medical care, household furnishings and operations, and motor vehicle insurance all rose in September. The indexes for used cars and trucks, apparel, new vehicles, and communication all declined.

The all items index increased 1.7 percent for the 12 months ending September, the same increase as for the 12 months ending August. The index for all items less food and energy rose 2.4 percent over the last 12 months, also the same increase as the period ending August. The food index increased 1.8 percent over the last year, while the energy index decreased 4.8 percent.

Food
The food index increased slightly in September, rising 0.1 percent. The index for food at home was unchanged in September after falling in each of the prior 3 months. Five of the six major grocery store food group indexes increased over the month. The index for cereals and bakery products increased 0.5 percent after declining in August. The indexes for meats, poultry, fish, and eggs and for other food at home both increased 0.3 percent. The index for dairy and related products advanced 0.2 percent, and the index for nonalcoholic beverages rose 0.1 percent.

These increases were offset by a decline in the index for fruits and vegetables, which fell 1.0 percent in September following a 0.5-percent decline in August. The indexes for fresh fruits and for fresh vegetables both declined in September.

The index for food away from home rose 0.3 percent in September after increasing 0.2 percent in August. The index for full service meals increased 0.3 percent and the index for limited service meals rose 0.2 percent.

The food at home index rose 0.6 percent over the last 12 months. Five of the six major grocery store food group indexes rose over that span. The largest increase among them was the 1.4-percent advance in the index for dairy and related products. The fruits and vegetables index was the only one to decline, falling 0.4 percent. The index for food away from home rose 3.2 percent over the last year. The index for full service meals increased 3.6 percent and the index for limited service meals rose 3.0 percent.

Energy
The energy index declined 1.4 percent in September, its fourth decline in the last 5 months. The gasoline index fell 2.4 percent in September following a 3.5-percent decline in August. (Before seasonal adjustment, gasoline prices fell 0.9 percent in September.) The index for natural gas declined 0.7 percent in September, its eighth decline in the last 9 months. The electricity index was unchanged in September following a decline in August.

The energy index decreased 4.8 percent over the past 12 months. The gasoline index fell 8.2 percent, and the fuel oil index declined 8.5 percent over the year. The index for natural gas declined 2.7 percent over the last 12 months. The index for electricity was the only major energy component index to rise over the last year, increasing 0.7 percent.

All items less food and energy
The index for all items less food and energy increased 0.1 percent in September. The shelter index continued to rise, increasing 0.3 percent in September following a 0.2-percent increase in August. The index for rent rose 0.4 percent and the index for owners’ equivalent rent increased 0.3 percent. The index for lodging away from home increased 2.1 percent in September after falling 2.1 percent in August.

The remaining indexes within all items less food and energy were a mix of offsetting increases and declines. The medical care index rose 0.2 percent in September with its component indexes mixed. The index for physicians’ services increased 0.4 percent, the index for hospital services was unchanged, and the index for prescription drugs declined 0.5 percent. The index for household furnishings and operations increased 0.3 percent over the month, as did the index for motor vehicle insurance. Also rising in September were the indexes for airline fares, for tobacco, and for education.

The index for used cars and trucks declined in September, falling 1.6 percent. The apparel index fell 0.4 percent in September after rising in each of the prior 3 months. Also declining in September were the indexes for new vehicles, for communication, for alcoholic beverages, and for personal care. The recreation index was unchanged in September after rising in August.

The index for all items less food and energy rose 2.4 percent over the past 12 months. Indexes with larger increases included shelter and medical care (both 3.5 percent). Indexes with smaller increases over the past 12 months included recreation (1.0 percent)and new vehicles (0.1 percent). Indexes with declines over the past year included communication (-1.2 percent) and apparel (-0.3 percent).

Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.7 percent over the last 12 months to an index level of 256.759 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.5 percent over the last 12 months to an index level of 250.251 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.6 percent over the last 12 months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.





Posted: October 10, 2019 Thursday 08:30 AM




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