12.12.2018
The Consumer Price Index report released by the U.S. Bureau of Labor Statistics provides the latest evidence that inflation is more or less in line with where the Federal Reserve Bank wants it to be. The Consumer Price Index for all urban consumers (CPI-U) was unchanged in November on a seasonally adjusted basis after rising 0.3 percent in October.
The gasoline index declined 4.2 percent in November offsetting increases in other indexes including shelter and used cars and trucks. Other major energy component indexes were mixed with the index for fuel oil falling but the indexes for electricity and natural gas rising. Food indexes—food at home and food away from home—increased in November.
Core inflation—all items minus food and energy—rose 0.2 percent in November following a 0.2 percent rise in October. Indexes for shelter used cars and trucks and electricity medical care recreation water and sewer and trash collection increased in November; in contrast communications airline fares and motor vehicle insurance declined during the month.
Core inflation increased 2.2 percent over the last 12 months ending in October. The energy index increased 3.1 percent while the food index increased more modestly advancing 1.4 percent over the last 12 months. In particular the energy index had the smallest 12-month increase in two and a half years.
The full press release can be found via the link below.
Next release is Friday January 11 2019 for the December 2018 Consumer Price Index.
