December 2024 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a seasonally adjusted basis in December, after rising 0.3 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.9 percent before seasonal adjustment.

The index for energy rose 2.6 percent in December, accounting for over forty percent of the monthly all items increase. The gasoline index increased 4.4 percent over the month. The index for food also increased in December, rising 0.3 percent as both the index for food at home and the index for food away from home increased 0.3 percent each.

The index for all items less food and energy rose 0.2 percent in December, after increasing 0.3 percent in each of the previous 4 months. Indexes that increased in December include shelter, airline fares, used cars and trucks, new vehicles, motor vehicle insurance, and medical care. The indexes for personal care, communication, and alcoholic beverages were among the few major indexes that decreased over the month.

The all items index rose 2.9 percent for the 12 months ending December, after rising 2.7 percent over the 12 months ending November. The all items less food and energy index rose 3.2 percent over the last 12 months. The energy index decreased 0.5 percent for the 12 months ending December. The food index increased 2.5 percent over the last year.

Food

The index for food increased 0.3 percent in December, after rising 0.4 percent in November. The food at home index also rose 0.3 percent over the month. Four of the six major grocery store food group indexes increased in December. The index for cereals and bakery products rose 1.2 percent over the month, after falling 1.1 percent in November. The meats, poultry, fish, and eggs index increased 0.6 percent in December, as the eggs index rose 3.2 percent. The index for other food at home rose 0.3 percent over the month and the index for dairy and related products increased 0.2 percent.

The nonalcoholic beverages index fell 0.4 percent in December, after rising 1.5 percent the previous month. The index for fruits and vegetables declined 0.1 percent over the month, after rising 0.2 percent in November.

The food away from home index rose 0.3 percent in December, as it did in November. The index for limited service meals rose 0.4 percent over the month and the index for full service meals rose 0.2 percent.

The index for food at home rose 1.8 percent over the last 12 months. The meats, poultry, fish, and eggs index rose 4.2 percent over the last 12 months and the nonalcoholic beverages index increased 2.3 percent. Over the same period, the index for other food at home rose 0.8 percent and the index for fruits and vegetables increased 1.0 percent. The dairy and related products index increased 1.3 percent over the year and the cereals and bakery products index rose 0.8 percent over the same period.

The food away from home index rose 3.6 percent over the last year. The index for limited service meals increased 3.7 percent over the last 12 months and the index for full service meals rose 3.6 percent over the same period.

Energy

The energy index increased 2.6 percent in December, after rising 0.2 percent in November. The gasoline index increased 4.4 percent over the month. (Before seasonal adjustment, gasoline prices decreased 1.1 percent in December.) The natural gas index rose 2.4 percent over the month and the index for electricity rose 0.3 percent in December.

The energy index decreased 0.5 percent over the past 12 months. The gasoline index fell 3.4 percent over this 12-month span and the fuel oil index fell 13.1 percent over that period. In contrast, the index for electricity increased 2.8 percent over the last 12 months and the index for natural gas rose 4.9 percent.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in December, after rising 0.3 percent in each of the 4 preceding months. The shelter index increased 0.3 percent in December, as it did in November. The index for owners' equivalent rent also rose 0.3 percent over the month, as did the index for rent. The lodging away from home index fell 1.0 percent in December, after rising 3.2 percent in November.

The medical care index increased 0.1 percent over the month, after rising 0.3 percent in October and November. The index for physicians' services increased 0.1 percent in December and the index for hospital services rose 0.2 percent over the month. The prescription drugs index was unchanged in December.

The airline fares index rose 3.9 percent in December, after rising 0.4 percent in the previous month. The index for used cars and trucks rose 1.2 percent over the month and the index for new vehicles increased 0.5 percent. Other indexes that increased in December include motor vehicle insurance, recreation, apparel, and education. In contrast, the index for personal care fell 0.2 percent in December after rising 0.4 percent in November. The indexes for communication and alcoholic beverages also declined over the month. The household furnishings and operations index was unchanged in December.

The index for all items less food and energy rose 3.2 percent over the past 12 months. The shelter index increased 4.6 percent over the last year, the smallest 12-month increase since January 2022. Other indexes with notable increases over the last year include motor vehicle insurance (+11.3 percent), medical care (+2.8 percent), education (+4.0 percent), and recreation (+1.1 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.9 percent over the last 12 months to an index level of 315.605 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.8 percent over the last 12 months to an index level of 309.067 (1982-84=100). For the month, the index was unchanged prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.7 percent over the last 12 months. For the month, the index was unchanged on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Consumer Price Index End of Year Supplemental Files and Revised Seasonal Adjustment Factors to be Available on February 12, 2025

Each year with the release of CPI data for January, relative importance weights are updated and seasonal adjustment factors are recalculated to reflect price movements from the just-completed calendar year. This routine annual recalculation may result in revisions to seasonally adjusted indexes for the previous 5 years.

* Consumer Price Index Seasonal Adjustment Factors (XLSX) * Consumer Price Index Relative Importance (XLSX) * Consumer Price Index Revised Seasonally Adjusted Indexes and Factors (XLSX) * CPI-U Median Price Change and Median Price Change Standard Errors (XLSX) * CPI-U Response Rates (XLSX) * Consumer Price Index Components for Seasonal Aggregation to All items (XLSX) * Consumer Price Index Series Subject to Intervention Analysis Seasonal Adjustment (XLSX) * CPI-U Historical Cost Weights (XLSX) * CPI-W Historical Cost Weights (XLSX)

With the release of these files, the seasonal factors and selected end of year materials will be available in the API and FTP files. These files will be available for all U.S. city average CPI-U data and a subset of U.S. city average CPI-W data.

In preparation for the upcoming end of year supplemental files and revised seasonal adjustment factors, last year's end of year supplemental files and revised seasonal adjustment factors are now available on the CPI supplemental files page.

BLS will also post last year's seasonal factors and other end of year materials in the API and FTP files in mid- to late-November.

For additional information, contact the CPI Information and Analysis section at cpi_info@bls.gov or (202) 691-7000.

Consumer Price Index Publication Changes to be Implemented on February 12, 2025

With the publication of January 2025 data in February 2025, several indexes and average price series will be discontinued, and one index title will change.

The following CPI indexes will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:

* Electricity * Utility (piped) gas (often referred to as natural gas) * Energy services * Fuels and utilities * Household energy

The following CPI average price series will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:

* Electricity per KWH * Utility (piped) gas per therm

The following CPI index will have a title change:

* Pet food will be changed to pet food and treats