January 2016 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.4 percent before seasonal adjustment.

An increase in the index for all items less food and energy offset a decline in the energy index to lead to the seasonally adjusted all items index being unchanged. The energy index fell 2.8 percent as all of its major component indexes declined. The index for all items less food and energy rose 0.3 percent in January. The increase was broad-based, with most of the major components rising, but increases in the indexes for shelter and medical care were the largest contributors.

The food index was unchanged in January. The index for food away from home increased, but the food at home index declined for the third consecutive month, as five of the six major grocery store food group indexes decreased.

The all items index rose 1.4 percent over the last 12 months, compared to the 0.7-percent 12-month increase for the period ending December. The energy index fell 6.5 percent over the past year; this was its smallest 12-month decrease since November 2014. The food index rose 0.8 percent over the last 12 months, with the food at home index declining 0.5 percent. The index for all items less food and energy increased 2.2 percent over the last 12 months, a figure that has been gradually rising over the last several months.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. July Aug. Sep. Oct. Nov. Dec. Jan. ended 2015 2015 2015 2015 2015 2015 2016 Jan. 2016

Consumer Price Index Data for January 2016

Food

The food index was unchanged in January after declining in November and December. The index for food at home declined for the third month in a row, falling 0.2 percent. Five of the six major grocery store food group indexes declined in January, led by the index for meats, poultry, fish, and eggs, which fell 1.3 percent. The eggs index fell sharply in January, declining 8.4 percent, its largest 1-month decline since October 2010. In contrast, the index for fruits and vegetables increased 1.3 percent, its largest increase since March 2011, with the fresh vegetables index rising 2.2 percent. The other major grocery store food group indexes (cereals and bakery products, dairy and related products, nonalcoholic beverages, and other food at home) all declined 0.2 percent. The food at home index has declined over the past 12 months, falling 0.5 percent. The index for meats, poultry, fish and eggs has fallen 3.5 percent and the dairy and related products index has declined 3.0 percent. The other major grocery store food group indexes increased, with the fruits and vegetables index rising 2.7 percent over the last 12 months and the remaining indexes all advancing less than 1 percent. The index for food away from home increased 0.3 percent in January and has risen 2.7 percent over the last 12 months.

Energy

The energy index fell 2.8 percent in January. For the second month in a row, all the major energy component indexes declined. The gasoline index fell 4.8 percent in January. (Before seasonal adjustment, gasoline prices declined 4.4 percent in January, and the index is at its lowest level since March 2009.) The fuel oil index fell 6.5 percent in January, while the electricity index declined 0.7 percent and the index for natural gas decreased 0.6 percent. All the energy component indexes have also declined over the last 12 months. The fuel oil index has fallen sharply, declining 28.7 percent, and the index for natural gas has decreased 12.7 percent. The gasoline index has declined 7.3 percent and the index for electricity has fallen 2.4 percent.

All items less food and energy

The index for all items less food and energy percent increased 0.3 in January. The shelter index rose 0.3 percent, with the rent index rising 0.3 percent and the index for owners' equivalent rent increased 0.2 percent. The index for lodging away from home also increased in January, rising 2.0 percent after falling in December. The medical care index rose 0.5 percent in January, with the index for prescription drugs rising 0.5 percent and the index for hospital services increasing 0.4 percent. The apparel index turned up in January, rising 0.6 percent after a series of recent declines. The index for airline fares rose 1.2 percent after falling in December. The index for alcoholic beverages rose 0.5 percent, and the motor vehicle insurance index increased 0.4 percent. Also increasing in January were the indexes for new vehicles (0.3 percent), tobacco (0.2 percent), recreation (0.2 percent), used cars and trucks (0.1 percent), and personal care (0.1 percent). The indexes for education and for communication were both unchanged in January, while the index for household furnishings and operations declined slightly, falling 0.1 percent.

The index for all items less food and energy increased 2.2 percent over the past 12 months. This is its highest 12-month change since the period ending June 2012, and exceeds the 1.9 percent average annualized increase over the last 10 years. The index for shelter has risen 3.2 percent over the span, and the medical care index has increased 3.0 percent. In contrast, the indexes for apparel and for airline fares have declined over the past 12 months.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.4 percent over the last 12 months to an index level of 236.916 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.2 percent over the last 12 months to an index level of 231.061 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.0 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.

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