by Calculated Risk on 10/13/2022 08:31:00 AM
seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 8.2 percent before seasonal
Increases in the shelter, food, and medical care indexes were the largest of many contributors to
the monthly seasonally adjusted all items increase. These increases were partly offset by a
4.9-percent decline in the gasoline index. The food index continued to rise, increasing 0.8 percent
over the month as the food at home index rose 0.7 percent. The energy index fell 2.1 percent over
the month as the gasoline index declined, but the natural gas and electricity indexes increased.
The index for all items less food and energy rose 0.6 percent in September, as it did in August. The
indexes for shelter, medical care, motor vehicle insurance, new vehicles, household furnishings and
operations, and education were among those that increased over the month. There were some indexes
that declined in September, including those for used cars and trucks, apparel, and communication.
The all items index increased 8.2 percent for the 12 months ending September, a slightly smaller
figure than the 8.3-percent increase for the period ending August. The all items less food and
energy index rose 6.6 percent over the last 12 months. The energy index increased 19.8 percent for
the 12 months ending September, a smaller increase than the 23.8-percent increase for the period
ending August. The food index increased 11.2 percent over the last year.
Both CPI and core CPI were above expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.