Consumer Prices Rose at the Fastest Pace since 1982 Last Month

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent
in November on a seasonally adjusted basis after rising 0.9 percent in October,
the U.S. Bureau of Labor Statistics reported today. Over the last 12 months,
the all items index increased 6.8 percent before seasonal adjustment.

The monthly all items seasonally adjusted increase was the result of broad
increases in most component indexes, similar to last month. The indexes for
gasoline, shelter, food, used cars and trucks, and new vehicles were among the
larger contributors. The energy index rose 3.5 percent in November as the
gasoline index increased 6.1 percent and the other major energy component
indexes also rose. The food index increased 0.7 percent as the index for food
at home rose 0.8 percent. 

The index for all items less food and energy rose 0.5 percent in November
following a 0.6-percent increase in October. Along with shelter, used cars and
trucks, and new vehicles, the indexes for household furnishings and operations,
apparel, and airline fares were among those that increased. The indexes for
motor vehicle insurance, recreation, and communication all declined in November.

The all items index rose 6.8 percent for the 12 months ending October, the
largest 12-month increase since the period ending June 1982. The index for all
items less food and energy rose 4.9 percent over the last 12 months, while the
energy index rose 33.3 percent over the last year, and the food index increased
6.1 percent. These changes are the largest 12-month increases in at least 13
years in the respective series.
Food

The food index increased 0.7 percent in November after rising 0.9 percent in both
September and October. The food at home index increased 0.8 percent in November as
all six major grocery store food group indexes rose; this was the third consecutive
month that all six increased. The indexes for other food at home and for fruits and
vegetables both increased 1.0 percent in November. The index for meats, poultry,
fish, and eggs rose 0.9 percent in November. Within this group, the index for pork
rose sharply, increasing 2.2 percent, while the index for eggs declined in November,
falling 2.7 percent. 

The cereals and bakery products index increased 0.8 percent in November after larger
increases in September and October. The index for dairy and related products
increased 0.2 percent over the month, the same increase as the prior month. The
index for nonalcoholic beverages also rose 0.2 percent, its smallest monthly
increase in the last 6 months.  

The food away from home index rose 0.6 percent in November following a 0.8-percent
increase the prior month. The index for limited service meals continued to rise
sharply, increasing 1.0 percent over the month, while the index for full service
meals rose 0.4 percent in November.  

The food at home index rose 6.4 percent over the past 12 months, the largest
12-month increase since the period ending December 2008. All of the six major
grocery store food group indexes increased over the period. The index for meats,
poultry, fish, and eggs increased 12.8 percent, with the index for beef rising
20.9 percent. The index for dairy and related products posted the smallest increase,
rising 1.6 percent over the last 12 months. The remaining major grocery store food
group indexes posted increases ranging from 4.0 percent (fruits and vegetables) to
5.7 percent (other food at home). 

The index for food away from home rose 5.8 percent over the last year, the largest
12-month increase since the period ending January 1982. The index for limited
service meals rose 7.9 percent over the last 12 months, and the index for full
service meals rose 6.0 percent. The index for food at employee sites and schools,
in contrast, declined 44.9 percent over the past 12 months.

Energy

The energy index rose 3.5 percent in November after rising 4.8 percent in October.
The gasoline index rose 6.1 percent in November, the same increase as the prior
month. (Before seasonal adjustment, gasoline prices rose 2.8 percent in November.)
The electricity index increased 0.3 percent in November after rising 1.8 percent in
October. The index for natural gas rose 0.6 percent in November following a
6.6-percent increase the prior month.  

The energy index rose 33.3 percent over the past 12 months with all major energy
component indexes increasing sharply. The gasoline index rose 58.1 percent over the
last year, its largest 12-month increase since the period ending April 1980. The
index for natural gas rose 25.1 percent over the last 12 months, and the electricity
index rose 6.5 percent.

All items less food and energy

The index for all items less food and energy rose 0.5 percent in November. The
shelter index increased 0.5 percent over the month, as the indexes for rent and
owners’ equivalent rent both rose 0.4 percent; these increases were the same as in
October. The index for lodging away from home rose 2.9 percent in November after
rising 1.4 percent in October. Vehicle indexes also continued to rise in November.
The index for used cars and trucks rose 2.5 percent over the month, the same
increase as in October. The index for new vehicles rose 1.1 percent in November
after a 1.4-percent increase in October.

The index for household furnishings and operations increased in November, rising
0.8 percent, the same increase as in October. The apparel index rose 1.3 percent
in November after being unchanged in October. The index for airline fares turned
up in November, rising 4.7 percent after declining in recent months. 

The medical care index also rose in November, increasing 0.2 percent after rising
0.5 percent in October. The index for physicians’ services rose 0.4 percent, and
the index for prescription drugs increased 0.3 percent, while the index for hospital
services declined 0.3 percent. 

A few indexes declined in November. The motor vehicle insurance index fell
0.8 percent over the month after being unchanged in October. The recreation index
fell 0.2 percent in November after rising in each of the last 9 months. The index
for communication also declined 0.2 percent in November.

The index for all items less food and energy rose 4.9 percent over the past
12 months, its largest 12-month increase since the period ending June 1991. The
index for used cars and trucks rose 31.4 percent over the last 12 months, and the
index for new vehicles rose 11.1 percent. The shelter index rose 3.8 percent, the
largest 12-month increase since the period ending June 2007. The index for medical
care increased 1.7 percent over the last year. 

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 6.8 percent over
the last 12 months to an index level of 277.948 (1982-84=100). For the month, the
index increased 0.5 percent prior to seasonal adjustment.  

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
increased 7.6 percent over the last 12 months to an index level of 273.042
(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
6.7 percent over the last 12 months. For the month, the index increased 0.5 percent
on a not seasonally adjusted basis. Please note that the indexes for the past
10 to 12 months are subject to revision.