by Nick Dobbins
October 2022
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported. Increases in the shelter, food, and medical care indices 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 indices increased. The index for all items less food and energy rose 0.6 percent in September, as it did in August. The indices for shelter, medical care, motor vehicle insurance, new vehicles, household furnishings and operations, and education were among those that increased. Some indices 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. 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.
