Manufacturing & The Economy
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in December on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7% before seasonal adjustment.
The gasoline index declined again in December, but other indexes, notably food and shelter, increased, resulting in the seasonally adjusted all items index being unchanged. Gasoline was the only major energy index to decline; the indexes for natural gas and electricity both increased. Within the food category, five of the six major grocery store food groups increased as the food at home index rose for the third consecutive month.
The index for all items less food and energy increased 0.1% in December, the same increase as in November. Besides shelter, the indexes for airline fares, tobacco, and medical care also increased. The indexes for recreation, household furnishings and operations, and used cars and trucks all declined in December.
The all items index increased 1.7% over the last 12 months, compared to a 1.8% figure in November. The index for all items less food and energy rose 1.9% over the last 12 months, the same figure as last month. The food index has risen 1.8% over the last 12 months, and the energy index has risen 0.5%.