February 2018 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in February on a seasonally adjusted basis after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.2 percent before seasonal adjustment.

The indexes for shelter, apparel, and motor vehicle insurance all rose and contributed to the 1-month seasonally adjusted increase in the all items index. The food index was unchanged in February, as a decline in the index for food at home offset an increase in the food away from home index. The energy index increased slightly, with its component indexes mixed.

The index for all items less food and energy increased 0.2 percent in February following a 0.3-percent increase in January. Along with shelter, apparel, and motor vehicle insurance, the indexes for household furnishings and operations, education, personal care, and airline fares also increased in February. In contrast, the indexes for communication, new vehicles, medical care, and used cars and trucks declined over the month.

The all items index rose 2.2 percent for the 12 months ending February, a slightly larger increase than the 2.1-percent rise for the 12 months ending January. The index for all items less food and energy rose 1.8 percent over the past year, while the energy index increased 7.7 percent and the food index advanced 1.4 percent.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Aug. Sep. Oct. Nov. Dec. Jan. Feb. ended 2017 2017 2017 2017 2017 2018 2018 Feb. 2018

Food

The food index was unchanged in February, as the index for food away from home rose 0.2 percent and the food at home index declined 0.2 percent. All six major grocery store food group indexes declined in February. The index for fruits and vegetables declined 0.5 percent after rising 0.5 percent in January. The index for dairy and related products declined 0.3 percent in February after being unchanged in January.

The index for meats, poultry, fish, and eggs fell 0.2 percent in February. The index for eggs increased 2.0 percent, but the indexes for beef and pork declined. The indexes for cereals and bakery products, nonalcoholic beverages, and other food at home all declined 0.1 percent in February.

The index for food at home rose 0.5 percent over the last 12 months. Of the six major grocery store food group indexes, three increased over the last 12 months (fruits and vegetables; meats, poultry, fish, and eggs; and other food at home), while the remaining indexes (dairy and related products, nonalcoholic beverages, and cereals and bakery products) declined. The index for food away from home increased 2.6 percent over the last 12 months.

Energy

The energy index increased 0.1 percent in February following a 3.0-percent increase in January. The gasoline index declined in February, falling 0.9 percent after rising 5.7 percent the prior month. (Before seasonal adjustment, gasoline prices increased 1.6 percent in February.) The fuel oil index declined 3.6 percent after a sharp increase in January. In contrast, the index for natural gas rose 4.7 percent in February, its largest 1-month increase since March 2014. The electricity index also rose in February, increasing 0.4 percent.

The energy index rose 7.7 percent over the past year, with all the component indexes increasing. The gasoline index rose 12.6 percent and the fuel oil index increased 20.7 percent. The index for natural gas increased 3.8 percent, and the electricity index rose 2.2 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in February. The shelter index increased 0.2 percent, with the indexes for rent and owners' equivalent rent both rising 0.2 percent and the index for lodging away from home unchanged. The apparel index continued to rise, increasing 1.5 percent in February following a 1.7-percent rise in January. The index for motor vehicle insurance also continued to increase sharply, rising 1.7 percent in February.

The index for household furnishings and operations rose 0.3 percent in February. The education index increased 0.2 percent, as did the index for personal care. The indexes for alcoholic beverages and tobacco also increased in February.

The medical care index declined 0.1 percent in February, with its component indexes mixed. The hospital services index fell 0.5 percent and the index for prescription drugs decreased 0.4 percent, but the physicians' services index rose 0.2 percent. The communication index fell 0.6 percent in February. The index for new vehicles declined 0.5 percent, its largest 1-month decrease since August 2009. The index for used cars and trucks fell 0.3 percent in February after rising in each of the last 4 months. The recreation index was unchanged in February.

The index for all items less food and energy rose 1.8 percent over the past 12 months, the same figure as the prior 2 months. The shelter index rose 3.1 percent over the span, and the index for medical care advanced 1.8 percent. Indexes that declined over the past year include communication, new vehicles, airline fares, and used cars and trucks.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.2 percent over the last 12 months to an index level of 248.991 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.3 percent over the last 12 months to an index level of 242.988 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.0 percent over the last 12 months. For the month, the index increased 0.4 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.