Consumer Price Index (CPI) Posts Strong, Broad Gains in January

The Bureau of Labor Statistics (BLS) said the Consumer Price Index (CPI) posted strong and broad gains in January, rising 0.5% on a seasonally adjusted basis. Over the last 12 months, the all items index rose 2.1% before seasonal adjustment.

The energy index rose 3.0% in January, with the increase in the gasoline index more than offsetting declines in other energy component indexes. The food index rose 0.2% with the indexes for food at home and food away from home both rising.

The index for all items less food and energy increased 0.3% in January.

The indexes for shelter, apparel, medical care, motor vehicle insurance, personal care, and used cars and trucks also rose in January. The indexes for airline fares and new vehicles were among those few that fell last month.

The all items index rose 2.1% for the 12 months ending January, the same increase as for the 12 months ending December. The index for all items less food and energy rose 1.8% over the past year, while the energy index increased 5.5% and the food index advanced 1.7%.