February 2021 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis after rising 0.3 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

The gasoline index continued to increase, rising 6.4 percent in February and accounting for over half of the seasonally adjusted increase in the all items index. The electricity and natural gas indexes also increased, and the energy index rose 3.9 percent over the month. The food index rose 0.2 percent in February, with the index for food at home and the index for food away from home both rising.

The index for all items less food and energy rose 0.1 percent in February. The indexes for shelter, recreation, medical care, and motor vehicle insurance all increased over the month. The indexes for airline fares, used cars and trucks, and apparel all declined in February.

The all items index rose 1.7 percent for the 12 months ending February, a larger increase than the 1.4-percent reported for the period ending in January. The index for all items less food and energy rose 1.3 percent over the last 12 months, a smaller increase than the 1.4-percent rise for the 12 months ending January. The food index rose 3.6 percent over the last 12 months, while the energy index increased 2.4 percent over that period.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Aug. Sep. Oct. Nov. Dec. Jan. Feb. ended 2020 2020 2020 2020 2020 2021 2021 Feb. 2021

Food

The food index increased 0.2 percent in February. The index for food at home rose 0.3 percent over the month as four of the six major grocery store food group indexes increased. The index for fruits and vegetables rose 0.7 percent in February as the index for fresh fruits increased 1.8 percent, the largest increase in that index since March 2014. The index for meats, poultry, fish, and eggs rose 0.3 percent in February, a smaller increase than the 0.5-percent increase in January. The index for cereals and bakery products increased 0.5 percent in February, while the index for other food at home increased 0.1 percent over the month.

The index for dairy and related products declined 0.2 percent in February after falling 0.4 percent the previous month. The index for nonalcoholic beverages also decreased over the month, declining 0.1 percent.

The food away from home index rose 0.1 percent in February, continuing a long series of increases. The index for limited service meals rose 0.4 percent, while the index for full service meals increased 0.3 percent.

The food at home index increased 3.5 percent over the past 12 months. All six major grocery store food group indexes increased over the period, with increases ranging from 2.7 percent (both cereals and bakery products and dairy and related products) to 5.2 percent (meats, poultry, fish, and eggs). The index for food away from home rose 3.7 percent over the last year. The index for limited service meals rose 6.3 percent, the largest 12-month increase in the history of the index, which began in 1997. The index for full service meals rose 2.9 percent over the last 12 months.

Energy

The energy index continued to rise in February, increasing 3.9 percent. The index for gasoline was again the dominant factor in the increase, rising 6.4 percent over the month. (Before seasonal adjustment, gasoline prices rose 6.9 percent in February.) The electricity index rose 0.7 percent in February, and the natural gas index increased 1.6 percent over the month. The index for fuel oil also rose in February, increasing 9.9 percent.

The energy index rose 2.4 percent over the past 12 months. The gasoline index rose 1.5 percent over the last 12 months, while the index for electricity rose 2.3 percent, and the index for natural gas increased 6.7 percent over the same period. In contrast, the fuel oil index fell 0.5 percent over the last 12 months.

All items less food and energy

The index for all items less food and energy rose 0.1 percent in February. The shelter index rose 0.2 percent in February, with the index for owners’ equivalent rent increasing 0.3 percent and the index for rent increasing 0.2 percent. The recreation index increased 0.6 percent in February after decreasing 0.6 percent in January. The motor vehicle insurance index also increased, rising 0.7 percent in February.

The medical care index rose 0.3 percent in February, although its components were mixed. The index for physicians’ services rose 2.0 percent over the month, but the index for prescription drugs declined 0.7 percent in February and the index for hospital services declined 0.1 percent.

The index for airline fares continued to decline in February, falling 5.1 percent following a 3.2-percent decrease in January. The used cars and trucks index fell 0.9 percent over the month, as it did in the 2 previous months. The index for apparel declined 0.7 percent in February after increasing 2.2 percent in January. The indexes for new vehicles and household furnishings and operations were both unchanged over the month.

The index for all items less food and energy rose 1.3 percent over the past 12 months. Among the indexes rising more quickly were those for used cars and trucks (+9.3 percent), medical care (+2.0 percent), and shelter (+1.5 percent). Indexes that declined over the last 12 months include airline fares (-25.6 percent), apparel (-3.6 percent), and motor vehicle insurance (-2.8 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.7 percent over the last 12 months to an index level of 263.014 (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 1.9 percent over the last 12 months to an index level of 256.843 (1982-84=100). For the month, the index rose 0.6 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.6 percent over the last 12 months. For the month, the index increased 0.6 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Coronavirus (COVID-19) Pandemic Impact on February 2021 Consumer Price Index Data

Data collection by personal visit for the Consumer Price Index (CPI) program has been suspended since March 16, 2020. When possible, data normally collected by personal visit were collected either online or by phone. Additionally, data collection in February was affected by the temporary closing or limited operations of certain types of establishments. These factors resulted in an increase in the number of prices considered temporarily unavailable and imputed. While the CPI program attempted to collect as much data as possible, many indexes are based on smaller amounts of collected prices than usual, and a small number of indexes that are normally published were not published this month. Additional information is available at www.bls.gov/covid19/effects-of-covid-19-pandemic-on-consumer-price-index.htm.