US Consumer Price Index report shows inflation at 3 pc in September

WASHINGTON: The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 per cent on a seasonally adjusted basis in September, after rising 0.4 per cent in August, the US Bureau of Labour Statistics reported on Friday.

Over the last 12 months, the all-items index increased 3.0 per cent before seasonal adjustment. Note that the September CPI data collection was completed before the lapse in appropriations. The index for gasoline rose 4.1 per cent in September and was the largest factor in the all items monthly increase, as the index for energy rose 1.5 per cent over the month. The food index increased 0.2 per cent over the month as the food at home index rose 0.3 percent and the food away from home index increased 0.1 per cent.

According to a release of the Bureau of Labour Statistics, US Department of Labour, the index for all items less food and energy rose 0.2 per cent in September, after rising 0.3 per cent in each of the 2 preceding months. Indexes that increased over the month include shelter, airline fares, recreation, household furnishings and operations, and apparel. The indexes for motor vehicle insurance, used cars and trucks, and communication were among the few major indexes that decreased in September.

The all-items index rose 3.0 per cent over the 12 months ending September, after rising 2.9 per cent over the 12 months ending August. The all items less food and energy index also rose 3.0 percent over the last 12 months, the release said. The energy index increased 2.8 per cent for the 12 months ending in September. The food index increased 3.1 per cent over the last year.

The index for food rose 0.2 per cent in September, after rising 0.5 percent in August. The food at home index increased 0.3 per cent over the month. Four of the six major grocery store food group indexes increased in September. The index for other food at home rose 0.5 percent over the month after rising 0.1 per cent in August.

The cereals and bakery products index and the nonalcoholic beverages index both increased 0.7 per cent in September. The index for meats, poultry, fish, and eggs rose 0.3 percent over the month following a 1.0-per cent increase in August.

The dairy and related products index declined 0.5 per cent in September as the cheese and related products index decreased 0.7 per cent. The index for fruits and vegetables was unchanged over the month. The food away from home index rose 0.1 per cent in September. The index for limited service meals rose 0.2 per cent over the month, while the index for full service meals was unchanged.

The index for food at home rose 2.7 per cent over the 12 months ending in September, as it did over the 12 months ending in August. The meats, poultry, fish, and eggs index rose 5.2 per cent over the last 12 months. The index for nonalcoholic beverages increased 5.3 per cent over the same period, and the index for other food at home rose 1.9 per cent.

The cereals and bakery products index increased 1.6 per cent over the 12 months ending in September. The index for fruits and vegetables rose 1.3 per cent, and the index for dairy and related products increased 0.7 per cent over the same period. The food away from home index rose 3.7 per cent over the last year. The index for full service meals rose 4.2 per cent and the index for limited service meals rose 3.2 percent over the same period.

The index for energy increased 1.5 per cent in September, after rising 0.7 per cent in August. The gasoline index increased 4.1 per cent over the month. (Before seasonal adjustment, gasoline prices increased 1.1 per cent in September.) The index for electricity decreased 0.5 per cent over the month, and the index for natural gas decreased 1.2 per cent over the same period.

The index for energy increased 2.8 per cent over the past 12 months. The electricity index increased 5.1 per cent over the 12 months ending in September, and the natural gas index rose 11.7 per cent. In contrast, the index for gasoline fell 0.5 percent over this 12-month span.

The index for all items less food and energy rose 0.2 per cent in September, after rising 0.3 per cent in each of the preceding 2 months. The shelter index increased 0.2 percent over the month. The index for owners’ equivalent rent rose 0.1 per cent in September, the smallest 1-month increase in that index since January 2021. The rent index increased 0.2 percent over the month. The index for lodging away from home rose 1.3 percent in September.

The index for airline fares increased 2.7 per cent over the month, after rising 5.9 per cent in August. The recreation index rose 0.4 per cent in September, as did the household furnishings and operations index. The index for apparel rose 0.7 per cent over the month, and the index for personal care increased 0.4 per cent. The new vehicles index rose 0.2 per cent in September.

The motor vehicle insurance index declined 0.4 per cent in September, after being unchanged in August. The index for used cars and trucks also decreased 0.4 per cent over the month, and the index for communication declined 0.2 per cent.

The medical care index increased 0.2 per cent over the month, after declining 0.2 per cent in August. The index for hospital services increased 0.3 per cent over the month, as did the index for prescription drugs. The dental services index decreased 0.6 per cent in September, and the physicians’ services index declined 0.1 per cent.

The index for all items less food and energy rose 3.0 per cent over the past 12 months. The shelter index increased 3.6 per cent over the last year. Other indexes with notable increases over the last year include medical care (+3.3 per cent), household furnishings and operations (+4.1 per cent), recreation (+3.0 per cent), and used cars and trucks (+5.1 per cent) (ANI)