BLS Releases December 2018 Consumer Price Index Report (Jan 2019)
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) declined by 0.1 percent in December. Over the last 12 months, the all items index increased by 1.9 percent before seasonal adjustment.
The seasonally adjusted decline was caused by a sharp decrease in the gasoline index, which fell by 7.5 percent in December, more than offsetting increases in other indexes including shelter, food, and other energy components. The energy index declined overall by 3.5 percent, as gasoline and fuel oil indexes fell, but natural gas and electricity indexes increased. Food indexes—food at home and food away from home—increased by 0.4 percent in December.
Core inflation—all items minus food and energy—rose 0.2 percent in December the same increase in both October and November. Indexes for shelter, recreation, medical care, and household furnishings and operations increased in December; in contrast, airline fares, used cars and trucks, and motor vehicle insurance declined during the month.
The all items index increased 1.9 percent over the last 12 months ending in December; marking the first time the 12-month change has been under 2.0 percent since August 2017. Core inflation rose 2.2 percent over the last 12 months. The energy index decreased by 0.3 percent, marking the first decline in the 12-month energy index since the period ending September 2016, while the food index increased by 1.6 percent over the last 12 months.
The full press release can be found via the link below.
Next release is Wednesday, February 13, 2019, for the January 2019 Consumer Price Index.