The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% on a seasonally adjusted basis, reported the US Bureau of Labor Statistics.
Before seasonal adjustment, the all items index increased by 1.3%, over the past 12 month period.
(Source: US Bureau of Labor Statistics)
Food Index
Surprisingly, the index for food remained the same for the month of September, reported the bureau. The food at home index dropped 0.4%, with five of the six major grocery store group indexes seeing percentage decreases. “The index for meats, poultry, fish, and eggs fell 0.4% in September, its third consecutive monthly decline,” explained the bureau. Conversely, the food away from home index rose 0.6%.
Over the past 12 month span, the index for food at home edged up 4.6%. All six major grocery store group indexes saw percentage increases since this time last year. Additionally, the food away from home index increased by 3.8% over the last 12 months.
Energy Index
In September, the index for energy increased by 0.8%, marking the fourth consecutive monthly percentage rise. “ However, unlike previous months, the index for natural gas was the largest contributor to the monthly increase, rising 4.2 percent, its largest monthly increase since December 2018,” reported the US Bureau of Labor Statistics. In addition, the index for electricity increased by 0.9%, which also marked its largest rise in two years.
Over the last 12-months, the index for energy decreased by 7.7%. Gas prices dropped 15.4%, and the fuel oil index plunged 27.2%. “In contrast, energy service indexes rose, with the index for natural gas increasing 3.8% and the index for electricity advancing 0.7%,” exp[lained the bureau.
(Source: US Bureau of Labor Statistics)
All Items Less Food And Energy Index
In September, the all items less food and energy index rose 0.2%. Akin to in August, this was primarily due to the used cars and trucks index, which increased 6.7%. “The used cars and trucks index accounted for more than 100% of the monthly increase in the index for all items less food and energy,” stated the bureau in its report. Several of the component indexes all saw slight percentage increases for the month including the shelter index by 0.1%, and both the rent index and index for owners’ equivalent rent by 0.1%.
Over the last year, the all items less food and energy index increased by 1.7%. The index for shelter edged up 2%, as did the medical care index by 4.2%. Component indexes that saw percentage decreases were motor vehicle insurance, airline fares, and apparel stated the bureau.
Source cited: https://www.bls.gov/news.release/archives/cpi_10132020.htm
Sarah has been writing on the topics of politics, history and finance for over a decade. She is currently an editor at CPI Inflation Calculator, covering the topics of CPI, inflation, US economy and economic commentary.
