Consumer Price Index Increases 0.4% in September; All-Item Index Up 8.2% Year-Over-Year

The US Bureau of Labor Statistics (BLS) reported on Thursday (10-13-22) that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% in September on a seasonally adjusted basis. Previously, the CPI rose 0.1% in August, remained unchanged in July, and rose 1.3% in June. Over the past 12 months, the all-item index has increased 8.2% before seasonal adjustment.

According to the BLS, the largest contributors to the monthly seasonally adjusted all-items increase were shelter, food, and medical care. These increases were partially offset by a decline in the energy index of 2.1% over the month. The gasoline index dropped 4.9%, while the natural gas and electricity indexes both increased. The food indices continued to rise, increasing rising 0.8% over the month as the food at home index rose 0.7%.

The index for all items less food and energy rose 0.6% in September, as it did in August. The indexes for shelter, medical care, motor vehicle insurance, new vehicles, household furnishings and operations, and education were among the increases over the month. There were some indexes that declined in September, including used cars and trucks, apparel, and communications.

The all-items index increased 8.2% for the 12 months ending in September, a slightly smaller figure than the 8.3% increase in August. The all items less food and energy index rose 6.6% over the last 12 months. The energy index increased 19.8% for the 12 months ending in September, down from 23.8% for the 12 months ending in August. The food index increased 11.2% over the last year.