U.S. Consumer Price Index Increased Month-Over-Month and Year-Over-Year in September

The U.S. Bureau of Labor Statistics (BLS) on Thursday (10-10-24), reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, the same as in August and July, after declined 0.1% in June, and being unchanged in May. Over the past 12 months, (Sep. 23 – Sep. 24) the all-items index has increased 2.4% before seasonal adjustment.

According to the BLS, the index for shelter increased 0.2% in September, and the index for food increased 0.4%. Together, these two indexes contributed over 75% of the monthly all items increase. The food at home index increased 0.4% in September and the food away from home index rose 0.3% over the month. The energy index fell 1.9% over the month, after declining 0.8% in August.

The index for all items less food and energy rose 0.3% in September, as it did the preceding month. Indexes which increased in September include shelter, motor vehicle insurance, medical care, apparel, and airline fares. The indexes for recreation and communication were among those that decreased over the month.

The all-items index rose 2.4% percent for the 12 months ending in September, marking the smallest 12-month increase since February 2021. The all items less food and energy index rose 3.3% over the last 12 months. The energy index decreased 6.8% for the 12 months ending September. The food index increased 2.3% year-over-year.