| Seasonally adjusted changes from preceding month | Un- adjusted 12-mos. ended Jan. 2023 | |||||||
|---|---|---|---|---|---|---|---|---|
| Jul. 2022 | Aug. 2022 | Sep. 2022 | Oct. 2022 | Nov. 2022 | Dec. 2022 | Jan. 2023 | ||
All items | 0.0 | 0.2 | 0.4 | 0.5 | 0.2 | 0.1 | 0.5 | 6.4 |
Food | 1.1 | 0.8 | 0.8 | 0.7 | 0.6 | 0.4 | 0.5 | 10.1 |
Food at home | 1.3 | 0.8 | 0.7 | 0.5 | 0.6 | 0.5 | 0.4 | 11.3 |
Food away from home(1) | 0.7 | 0.9 | 0.9 | 0.9 | 0.5 | 0.4 | 0.6 | 8.2 |
Energy | -4.7 | -3.9 | -1.7 | 1.7 | -1.4 | -3.1 | 2.0 | 8.7 |
Energy commodities | -7.9 | -8.0 | -4.1 | 3.7 | -2.1 | -7.2 | 1.9 | 2.8 |
Gasoline (all types) | -8.1 | -8.4 | -4.2 | 3.4 | -2.3 | -7.0 | 2.4 | 1.5 |
Fuel oil(1) | -11.0 | -5.9 | -2.7 | 19.8 | 1.7 | -16.6 | -1.2 | 27.7 |
Energy services | 0.0 | 1.8 | 1.2 | -0.7 | -0.6 | 1.9 | 2.1 | 15.6 |
Electricity | 1.5 | 1.2 | 0.8 | 0.5 | 0.5 | 1.3 | 0.5 | 11.9 |
Utility (piped) gas service | -3.8 | 3.5 | 2.2 | -3.7 | -3.4 | 3.5 | 6.7 | 26.7 |
All items less food and energy | 0.3 | 0.6 | 0.6 | 0.3 | 0.3 | 0.4 | 0.4 | 5.6 |
Commodities less food and energy commodities | 0.1 | 0.4 | 0.0 | -0.1 | -0.2 | -0.1 | 0.1 | 1.4 |
New vehicles | 0.5 | 0.8 | 0.7 | 0.6 | 0.5 | 0.6 | 0.2 | 5.8 |
Used cars and trucks | -0.8 | -0.2 | -1.1 | -1.7 | -2.0 | -2.0 | -1.9 | -11.6 |
Apparel | -0.1 | 0.3 | 0.0 | -0.2 | 0.1 | 0.2 | 0.8 | 3.1 |
Medical care commodities(1) | 0.6 | 0.2 | -0.1 | 0.0 | 0.2 | 0.1 | 1.1 | 3.4 |
Services less energy services | 0.4 | 0.6 | 0.8 | 0.5 | 0.5 | 0.6 | 0.5 | 7.2 |
Shelter | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 | 0.8 | 0.7 | 7.9 |
Transportation services | -0.4 | 1.0 | 1.9 | 0.6 | 0.3 | 0.6 | 0.9 | 14.6 |
Medical care services | 0.4 | 0.7 | 0.8 | -0.4 | -0.5 | 0.3 | -0.7 | 3.0 |
Food The food index increased 0.5 percent in January, and the food at home index rose 0.4 percent over the month. Four of the six major grocery store food group indexes increased over the month. The index for other food at home rose 0.7 percent in January. The index for meats, poultry, fish, and eggs increased 0.7 percent over the month, as the index for eggs rose 8.5 percent. The index for cereals and bakery products rose 1.0 percent over the month, while the index for nonalcoholic beverages increased 0.4 percent in January. In contrast, the fruits and vegetables index fell 0.5 percent over the month with the fresh vegetables index declining 2.3 percent. The index for dairy and related products was unchanged in January. The food away from home index rose 0.6 percent in January, after increasing 0.4 percent in December. The index for limited service meals increased 0.7 percent over the month and the index for full service meals increased 0.5 percent. The food at home index rose 11.3 percent over the last 12 months. The index for cereals and bakery products rose 15.6 percent over the 12 months ending in January. The remaining major grocery store food groups posted increases ranging from 7.2 percent (fruits and vegetables) to 14.0 percent (dairy and related products). The index for food away from home rose 8.2 percent over the last year. The index for full service meal s rose 8.1 percent over the last 12 months, and the index for limited service meals rose 6.7 percent over the same period. Energy The energy index rose 2.0 percent in January, as the gasoline index increased 2.4 percent over the month. (Before seasonal adjustment, gasoline prices rose 3.2 percent in January.) The index for natural gas rose 6.7 percent over the month, and the index for electricity increased 0.5 percent. The energy index rose 8.7 percent over the past 12 months. The gasoline index increased 1.5 percent over the span. The fuel oil index rose 27.7 percent over the last 12 months, while the index for electricity rose 11.9 percent, and the index for natural gas increased 26.7 percent over the same period. All items less food and energy The index for all items less food and energy rose 0.4 percent in January. The shelter index continued to increase, rising 0.7 percent over the month. The rent index and the owners' equivalent rent index each rose 0.7 percent since December. The index for lodging away from home increased 1.2 percent in January. The shelter index was the dominant factor in the monthly increase in the index for all items less food and energy, while other components were a mix of increases and declines. Among the other indexes that rose in January was the index for motor vehicle insurance, which increased 1.4 percent over the month, while the index for recreation rose 0.5 percent, and the index for apparel increased 0.8 percent. The household furnishings and operations index rose 0.3 percent in January, and the communication index increased 0.4 percent. The medical care index fell 0.4 percent in January, as the physicians' services index declined 0.1 percent. The index for hospital services increased 0.5 percent over the month and the index for prescription drugs rose 2.1 percent in January. Other indexes which declined over the month include the index for used cars and trucks, which fell 1.9 percent in January, continuing a recent downward trend. The index for airline fares fell 2.1 percent over the month. The index for all items less food and energy rose 5.6 percent over the past 12 months. The shelter index increased 7.9 percent over the last year, accounting for nearly 60 percent of the total increase in all items less food and energy. Other indexes with notable increases over the last year include household furnishings and operations (+5.9 percent), medical care (+3.1 percent), recreation (+4.8 percent), and new vehicles (+5.8 percent). Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 6.4 percent over the last 12 months to an index level of 299.170 (1982-84=100). For the month, the index increased 0.8 percent prior to seasonal adjustment. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 6.3 percent over the last 12 months to an index level of 293.565 (1982-84=100). For the month, the index increased 0.9 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 6.6 percent over the last 12 months. For the month, the index increased 0.8 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 February 2023 is scheduled to be released on Tuesday, March 14, 2023, at 8:30 a.m. (ET). -------------------------------------------------------------------------------------------- January 2023 Consumer Price Index Weight Update Starting with January 2023 data, BLS updated weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using 2 years of expenditure data. For more information about the weight update, see www.bls.gov/cpi/tables/relative-importance/home.htm --------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- Updated Seasonal Factors Introduced February 10, 2023 Each year with the release of the January CPI, seasonal adjustment factors are recalculated to reflect price movements from the just-completed calendar year. This routine annual recalculation resulted in revisions to seasonally adjusted indexes for the previous 5 years. Recalculated seasonally adjusted indexes as well as recalculated seasonal adjustment factors for the period January 2018 through December 2022 were made available on Friday, February 10, 2023. The revised indexes and seasonal factors are available on www.bls.gov/cpi/seasonal-adjustment/home.htm --------------------------------------------------------------------------------------------- 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, or web 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.
