Consumer Price Index Increases 0.3% in January, Gas Continues Its Rise at 7.4%

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent 
 in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics 
 reported today. Over the last 12 months, the all items index increased 1.4 
 percent before seasonal adjustment.

 The gasoline index continued to increase, rising 7.4 percent in January and 
 accounting for most of the seasonally adjusted increase in the all items index. 
 Although the indexes for electricity and natural gas declined, the energy 
 index rose 3.5 percent over the month. The food index rose slightly in January, 
 increasing 0.1 percent as an advance in the index for food away from home more 
 than offset a decline in the index for food at home. 

 The index for all items less food and energy was unchanged in January. The 
 indexes for apparel, medical care, shelter, and motor vehicle insurance all 
 increased over the month. The indexes for recreation, used cars and trucks, 
 airline fares, and new vehicles all declined in January. 

 The all items index rose 1.4 percent for the 12 months ending January, the same 
 increase as for the period ending in December. The index for all items less 
 food and energy also rose 1.4 percent over the last 12 months, a smaller 
 increase than the 1.6-percent rise for the 12 months ending December. The food 
 index rose 3.8 percent over the last 12 months. In contrast to these increases, 
 and despite rising in recent months, the energy index declined 3.6 percent 
 over the last year. 

 Food

 The food index increased 0.1 percent in January. The index for food at home 
 fell 0.1 percent over the month as four of the six major grocery store food 
 group indexes declined. The index for cereals and bakery products fell 0.8 
 percent in January, its largest decline since March 2016. The index for dairy 
 and related products fell 0.4 percent after rising the 2 previous months. The 
 index for other food at home fell 0.3 percent, and the index for fruits and 
 vegetables declined 0.2 percent over the month. 
 
 The index for meats, poultry, fish, and eggs rose in January, increasing 0.5 
 percent as the index for beef rose 1.1 percent. The nonalcoholic beverages 
 index also increased in January, rising 0.1 percent after a much larger 
 increase the prior month. 

 The food away from home index rose 0.3 percent in January, continuing a long 
 series of increases. The index for limited service meals rose 0.6 percent, 
 while the index for full service meals increased 0.3 percent.

 The food at home index increased 3.7 percent over the past 12 months. All six 
 major grocery store food group indexes increased over the period, with 
 increases ranging from 2.5 percent (cereals and bakery products) to 5.1 
 percent (meats, poultry, fish, and eggs). The index for food away from home 
 rose 3.9 percent over the last year. The index for limited service meals rose 
 6.2 percent, the largest 12-month increase in the history of the index, which 
 began in 1997. The index for full service meals rose 2.9 percent over the 
 last 12 months. 

 Energy

 The energy index continued to rise in January, increasing 3.5 percent. The 
 gasoline index was again the dominant factor in the increase, rising 7.4 
 percent over the month. (Before seasonal adjustment, gasoline prices rose 6.9 
 percent in January.) The fuel oil index also rose in January, increasing 5.4 
 percent. However, other energy component indexes declined; the index for 
 electricity fell 0.2 percent over the month, and the index for natural gas 
 fell 0.4 percent.

 The energy index fell 3.6 percent over the past 12 months. Despite recent 
 monthly increases, the gasoline index fell 8.6 percent over the last 12 
 months, and the fuel oil index fell 16.5 percent. The index for electricity, 
 however, rose 1.5 percent over the last 12 months and the index for natural 
 gas increased 4.3 percent. 

 All items less food and energy

 The index for all items less food and energy was unchanged in January. The 
 apparel index increased for the third month in a row, rising 2.2 percent. 
 The medical care index rose 0.4 percent in January, although its components 
 were mixed. The index for physicians’ services rose sharply, increasing 1.6 
 percent, and the index for hospital services rose 0.3 percent. The index for 
 prescription drugs, however, declined 0.5 percent over the month. 
 
 The shelter index rose 0.1 percent in January, the same increase as in each 
 of the last 5 months. The indexes for rent and owners’ equivalent rent both 
 increased 0.1 percent. The motor vehicle insurance index rose 1.6 percent in 
 January. The tobacco index also rose in January, increasing 1.8 percent. 
 
 In contrast, the recreation index declined in January, falling 0.6 percent. 
 The index for used cars and trucks continued to fall, decreasing 0.9 percent 
 over the month. The new vehicles index fell 0.5 percent in January after 
 rising in December. The index for airline fares fell in January, declining 
 3.2 percent.  The index for household furnishings and operations fell 0.3 
 percent over the month, and the indexes for communication and for alcoholic 
 beverages also declined in January. The indexes for education and personal 
 care were both unchanged over the month.  

 The index for all items less food and energy rose 1.4 percent over the past 
 12 months. Among the indexes rising more quickly were those for used cars 
 and trucks (10.0 percent), medical care (1.9 percent), and shelter (1.6 
 percent). Among the indexes that declined over the last 12 months were 
 airline fares (-21.3 percent), motor vehicle insurance (-3.7 percent), 
 and apparel (-2.5 percent).

 Not seasonally adjusted CPI measures

 The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.4 
 percent over the last 12 months to an index level of 261.582 (1982-84=100). 
 For the month, the index increased 0.4 percent prior to seasonal adjustment.  
 
 The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) 
 increased 1.6 percent over the last 12 months to an index level of 255.296 
 (1982-84=100). For the month, the index rose 0.5 percent prior to seasonal 
 adjustment.  
 
 The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 
 1.3 percent over the last 12 months. For the month, the index increased 0.4 
 percent on a not seasonally adjusted basis. Please note that the indexes for 
 the past 10 to 12 months are subject to revision.