By Nick Dobbins
November 2021
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9% in October on a seasonally adjusted basis after rising 0.4% in September, the U.S. Bureau of Labor Statistics reported. The increase was broad-based, with increases in the indices for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors. The energy index rose 4.8% over the month, as the gasoline index increased 6.1% and the other major energy component indices also rose. The food index increased 0.9% as the index for food at home rose 1.0%. The index for all items less food and energy rose 0.6% in October after increasing 0.2% in September. Most component indices increased. Along with shelter, used cars and trucks, and new vehicles, the indices for medical care, for household furnishing and operations, and for recreation all increased. The indices for airline fares and for alcoholic beverages were among the few to decline over the month.
The all items index rose 6.2% for the 12 months ending October, the largest 12-month increase since the period ending November 1990. The index for all items less food and energy rose 4.6% over the last 12 months, the largest 12-month increase since the period ending August 1991. The energy index rose 30.0% over the last 12 months, and the food index increased 5.3%.
