Transmission of material in this release is embargoed until                                        
8:30 a.m. (ET) Wednesday, September 11, 2024   USDL-24-1864
	
Technical information: (202) 691-7000  *  [email protected]  *  www.bls.gov/cpi
Media contact:         (202) 691-5902  *  [email protected] 

CONSUMER PRICE INDEX - AUGUST 2024

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted
basis, the same increase as in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12
months, the all items index increased 2.5 percent before seasonal adjustment.

The index for shelter rose 0.5 percent in August and was the main factor in the all items increase. The
food index increased 0.1 percent in August, after rising 0.2 percent in July. The index for food away
from home rose 0.3 percent over the month, while the index for food at home was unchanged. The energy
index fell 0.8 percent over the month, after being unchanged the preceding month.

The index for all items less food and energy rose 0.3 percent in August, after rising 0.2 percent the
preceding month. Indexes which increased in August include shelter, airline fares, motor vehicle
insurance, education, and apparel. The indexes for used cars and trucks, household furnishings and
operations, medical care, communication, and recreation were among those that decreased over the month.

The all items index rose 2.5 percent for the 12 months ending August, the smallest 12-month increase since
February 2021. The all items less food and energy index rose 3.2 percent over the last 12 months. The
energy index decreased 4.0 percent for the 12 months ending August. The food index increased 2.1 percent
over the last year. 

Food

The food index increased 0.1 percent in August, after rising 0.2 percent in each of the previous 2 months.
The index for food at home was unchanged in August. Two of the six major grocery store food group indexes
increased over the month while the other four indexes declined in August. The index for meats, poultry,
fish, and eggs rose 0.8 percent in August as the index for eggs increased 4.8 percent. The dairy and
related products index increased 0.5 percent over the month.

The nonalcoholic beverages index fell 0.7 percent in August, after rising 0.5 percent in July. The index
for other food at home decreased 0.3 percent over the month, the index for fruits and vegetables declined
0.2 percent, and the index for cereals and bakery products fell 0.1 percent in August.

The food away from home index rose 0.3 percent in August, after rising 0.2 percent in July. The index for
limited service meals rose 0.3 percent and the index for full service meals increased 0.2 percent over
the month.

The index for food at home rose 0.9 percent over the last 12 months. The meats, poultry, fish, and eggs
index rose 3.2 percent over the last 12 months and the nonalcoholic beverages index increased 1.3 percent.
Over the same period, the index for other food at home rose 0.4 percent, as did the index for dairy and
related products. In comparison, the cereals and bakery products index fell 0.3 percent over the year and
the fruits and vegetables index decreased 0.2 percent. 

The food away from home index rose 4.0 percent over the last year. The index for limited service meals
increased 4.3 percent over the last 12 months and the index for full service meals rose 3.8 percent over
the same period. 

Energy

The energy index decreased 0.8 percent in August, after being unchanged in July. The gasoline index fell
0.6 percent over the month. (Before seasonal adjustment, gasoline prices decreased 2.7 percent in August.)
The electricity index decreased 0.7 percent over the month and the natural gas index fell 1.9 percent in
August.

The energy index decreased 4.0 percent over the past 12 months. The gasoline index fell 10.3 percent over
this 12-month span, and the natural gas index declined 0.1 percent. The index for fuel oil fell 12.1
percent over the same period. In contrast, the index for electricity increased 3.9 percent over the last
12 months. 

All items less food and energy

The index for all items less food and energy rose 0.3 percent in August, after rising 0.2 percent in July.
The shelter index increased 0.5 percent in August. The index for owners' equivalent rent rose 0.5 percent
over the month and the index for rent increased 0.4 percent. The lodging away from home index rose 1.8
percent in August, after rising 0.2 percent in July. 

The airline fares index rose 3.9 percent in August, after declining in each of the previous 5 months. The
index for motor vehicle insurance increased 0.6 percent over the month. The indexes for education and
apparel also increased in August.

The index for used cars and trucks fell 1.0 percent in August, following a 2.3-percent decrease in July.
Over the month, the household furnishings and operations index fell 0.3 percent. The medical care index
fell 0.1 percent in August, after falling 0.2 percent in July. The communication index decreased 0.1
percent in August, as did the recreation index and the personal care index. The index for new vehicles
was unchanged over the month. 

The index for all items less food and energy rose 3.2 percent over the past 12 months. The shelter index
increased 5.2 percent over the last year, accounting for over 70 percent of the total 12-month increase
in the all items less food and energy index. Other indexes with notable increases over the last year
include motor vehicle insurance (+16.5 percent), medical care (+3.0 percent), recreation (+1.6 percent),
and education (+3.1 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.5 percent over the last 12 months to
an index level of 314.796 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal
adjustment.  

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the
last 12 months to an index level of 308.640 (1982-84=100). For the month, the index was unchanged prior to
seasonal adjustment.  

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.4 percent over the last 12
months. For the month, the index increased 0.1 percent on a not seasonally adjusted basis. Please note
that the indexes for the past 10 to 12 months are subject to revision. 
_______________
The Consumer Price Index for September 2024 is scheduled to be released on Thursday, October 10, 2024, 
at 8:30 a.m. (ET).




Technical Note

Brief Explanation of the CPI
The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services.
The CPI reflects spending patterns for each of two population groups: all urban consumers and urban
wage earners and clerical workers. The all urban consumer group represents over 90 percent of the total
U.S. population. It is based on the expenditures of almost all residents of urban or metropolitan areas,
including professionals, the self-employed, the poor, the unemployed, and retired people, as well as
urban wage earners and clerical workers. Not included in the CPI are the spending patterns of people
living in rural nonmetropolitan areas, farming families, people in the Armed Forces, and those in
institutions, such as prisons and mental hospitals. Consumer inflation for all urban consumers is
measured by two indexes, namely, the Consumer Price Index for All Urban Consumers (CPI-U) and the
Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The Consumer Price Index for Urban Wage
Earners and Clerical Workers (CPI-W) is based on the expenditures of households included in the CPI-U
definition that meet two requirements: more than one-half of the household's income must come from
clerical or wage occupations, and at least one of the household's earners must have been employed for
at least 37 weeks during the previous 12 months. The CPI-W population represents approximately 30
percent of the total U.S. population and is a subset of the CPI-U population.

The CPIs are based on prices of food, clothing, shelter, fuels, transportation, doctors' and dentists'
services, drugs, and other goods and services that people buy for day-to-day living. Prices are
collected each month in 75 urban areas across the country from about 6,000 housing units and
approximately 22,000 retail establishments (department stores, supermarkets, hospitals, filling
stations, and other types of stores and service establishments). All taxes directly associated with the
purchase and use of items are included in the index. Prices of fuels and a few other items are obtained
every month in all 75 locations. Prices of most other commodities and services are collected every
month in the three largest geographic areas and every other month in other areas. Prices of most goods
and services are obtained by personal visit, telephone call, web, or app collection by the Bureau's
trained representatives.

In calculating the index, price changes for the various items in each location are aggregated using
weights, which represent their importance in the spending of the appropriate population group. Local
data are then combined to obtain a U.S. city average. For the CPI-U and CPI-W, separate indexes are
also published by size of city, by region of the country, for cross-classifications of regions and
population-size classes, and for 23 selected local areas. Area indexes do not measure differences in
the level of prices among cities; they only measure the average change in prices for each area since
the base period. For the C-CPI-U, data are issued only at the national level. The CPI-U and CPI-W are
considered final when released, but the C-CPI-U is issued in preliminary form and subject to three
subsequent quarterly revisions.

The index measures price change from a designed reference date. For most of the CPI-U and the CPI-W,
the reference base is 1982-84 equals 100. The reference base for the C-CPI-U is December 1999 equals
100.  An increase of 7 percent from the reference base, for example, is shown as 107.000. Alternatively,
that relationship can also be expressed as the price of a base period market basket of goods and
services rising from $100 to $107.