CPI for All Items Rises 0.3% in August: Gasoline, Food, Shelter among Indexes Rising

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in
August on a seasonally adjusted basis after rising 0.5 percent in July, the U.S.
Bureau of Labor Statistics reported today. Over the last 12 months, the all items
index increased 5.3 percent before seasonal adjustment.

The indexes for gasoline, household furnishings and operations, food, and shelter
all rose in August and contributed to the monthly all items seasonally adjusted
increase. The energy index increased 2.0 percent, mainly due to a 2.8-percent
increase in the gasoline index. The index for food rose 0.4 percent, with the
indexes for food at home and food away from home both increasing 0.4 percent. 

The index for all items less food and energy rose 0.1 percent in August, its
smallest increase since February 2021. Along with the indexes for household
operations and shelter, the indexes for new vehicles, recreation, and medical care
also rose in August. The indexes for airline fares, used cars and trucks, and
motor vehicle insurance all declined over the month.  

The all items index rose 5.3 percent for the 12 months ending August, a smaller
increase than the 5.4-percent rise for the period ending July. The index for all
items less food and energy rose 4.0 percent over the last 12 months, also a
smaller increase than the period ending July. The energy index rose 25.0 percent
over the last 12 months, and the food index increased 3.7 percent; both were
larger than the increases for the 12-month period ending July. 
 
Food

The food index increased 0.4 percent in August after larger increases in recent
months. The food at home index increased 0.4 percent over the month as four of the
six major grocery store food group indexes rose. The index for nonalcoholic
beverages increased 1.0 percent in August, its third consecutive monthly increase.
The index for meats, poultry, fish, and eggs rose 0.7 percent over the month as
the beef index rose 1.7 percent. The index for other food at home rose 0.6 percent
in August after increasing 0.8 percent in July. The index for fruits and
vegetables rose 0.2 percent in August after declining in July.

The index for dairy and related products declined in August, falling 1.0 percent
after rising in each of the previous 4 months. The index for cereals and bakery
products was unchanged in August after increasing 1.2 percent in July.

The food away from home index rose 0.4 percent in August after increasing 0.8
percent in July. The index for limited service meals rose 0.8 percent in August,
and the index for full service meals increased 0.6 percent. These increases offset
a sharp decline in the index for food at employee sites and schools, which fell 17.0
percent in August.

The food at home index rose 3.0 percent over the past 12 months. Five of the six
major grocery store food group indexes increased over the period. The largest
increase was the index for meats, poultry, fish, and eggs, which increased 8.0
percent as the index for beef rose 12.2 percent over the year. The only group to
decline was dairy and related products, which fell 0.5 percent over the last 12
months. The index for food away from home rose 4.7 percent over the last year. The
index for limited service meals rose 6.9 percent over the last 12 months, and the
index for full service meals rose 4.9 percent, while the index for food at
employee sites and schools declined sharply.  

Energy

The energy index rose 2.0 percent in August, its third consecutive monthly
increase. The gasoline index rose 2.8 percent in August after increasing 2.4
percent in July. (Before seasonal adjustment, gasoline prices rose 0.7 percent in
August.) The electricity index increased 1.0 percent in August following a
0.4-percent increase the prior month. The index for natural gas also increased in
August, rising 1.6 percent; this was its seventh consecutive monthly increase.  

The energy index rose 25.0 percent over the past 12 months as all the major energy
component indexes increased. The gasoline index rose 42.7 percent over the last
year. The index for electricity increased 5.2 percent, its largest 12-month
increase since the period ending March 2014. The index for natural gas rose 21.1
percent over the last 12 months, the largest increase since the period ending
August 2008.

All items less food and energy

The index for all items less food and energy rose 0.1 percent in August. Indexes
that increased over the month include the index for household furnishings and
operations, which increased 1.3 percent as the indexes for furniture and bedding
and for appliances rose. The shelter index increased in August, rising 0.2 percent.
The indexes for rent and owners’ equivalent rent both rose 0.3 percent over the
month, while the index for lodging away from home declined 2.9 percent. 

The index for new vehicles continued to rise in August, increasing 1.2 percent
after rising 1.7 percent in July. The recreation index rose 0.5 percent in August
after increasing 0.6 percent the prior month. The index for medical care rose 0.2
percent over the month; its component indexes were mixed. The hospital services
index rose 0.9 percent over the month, while the physicians’ services index was
unchanged and the prescription drugs index declined 0.4 percent. The indexes for
personal care, for communication, and for apparel all increased in August. 

In contrast to these increases, several indexes declined in August. The index for
airline fares fell sharply, decreasing 9.1 percent over the month. The index for
used cars and trucks declined 1.5 percent in August, ending a series of five
consecutive monthly increases. The index for motor vehicle insurance fell 2.8
percent in August, the same decline as in July. 

The index for all items less food and energy rose 4.0 percent over the past 12
months. The index for used cars and trucks increased 31.9 percent over the span.
The index for new vehicles rose 7.6 percent, the largest 12-month increase since
the period ending June 1981. The shelter index increased 2.8 percent over the last
12 months, and the medical care index rose 0.4 percent. The index for physicians’
services rose 3.9 percent and the index for hospital services increased 3.5
percent. The prescription drugs index fell 2.7 percent, one of the few indexes to
show a 12-month decline. 

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 5.3 percent
over the last 12 months to an index level of 273.567 (1982-84=100). For the month,
the index increased 0.2 percent prior to seasonal adjustment.  

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
increased 5.8 percent over the last 12 months to an index level of 268.387 (1982-84=100).
For the month, the index rose 0.2 percent prior to seasonal adjustment.  

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 5.1
percent over the last 12 months. For the month, the index increased 0.2 percent
on a not seasonally adjusted basis. Please note that the indexes for the past 10
to 12 months are subject to revision.