The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.4…
Source: U.S. Bureau of Labor Statistics6 min read
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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.4 percent before seasonal adjustment.
The index for shelter rose 0.2 percent in January and was the largest factor in the all items monthly increase. The food index increased 0.2 percent over the month as did the food at home index, while the food away from home index rose 0.1 percent. These increases were partially offset by the index for energy, which fell 1.5 percent in January.
The index for all items less food and energy rose 0.3 percent in January. Indexes that increased over the month include airline fares, personal care, recreation, medical care, and communication. The indexes for used cars and trucks, household furnishings and operations, and motor vehicle insurance were among the major indexes that decreased in January.
The all items index rose 2.4 percent for the 12 months ending January, after rising 2.7 percent for the 12 months ending December. The all items less food and energy index rose 2.5 percent over the last 12 months. The energy index decreased 0.1 percent for the 12 months ending January. The food index increased 2.9 percent over the last year.
Food
The index for food rose 0.2 percent in January as did the index for food at home. Five of the six major grocery store food group indexes increased in January. The index for cereals and bakery products rose 1.2 percent over the month. The meats, poultry, fish, and eggs index increased 0.2 percent in January. The index for nonalcoholic beverages and the index for fruits and vegetables both increased 0.1 percent over the month. The dairy and related products index rose 0.8 percent in January. In contrast, the index for other food at home decreased 0.3 percent in January.
The food away from home index rose 0.1 percent in January. The index for limited service meals increased 0.3 percent, while the index for full service meals was unchanged over the month.
The food at home index rose 2.1 percent over the 12 months ending in January. The index for other food at home rose 2.1 percent over the last 12 months. The nonalcoholic beverages index increased 4.5 percent over the same period and the meats, poultry, fish, and eggs index rose 2.2 percent. The index for cereals and bakery products increased 3.1 percent over the 12 months ending in January. The fruits and vegetables index rose 0.8 percent over the year. In contrast, the index for dairy and related products decreased 0.3 percent over the same period.
The food away from home index rose 4.0 percent over the last year. The index for full service meals rose 4.7 percent and the index for limited service meals rose 3.2 percent over the same period.
Energy
The index for energy decreased 1.5 percent in January. The gasoline index decreased 3.2 percent over the month. (Before seasonal adjustment, gasoline prices decreased 2.5 percent in January.) The index for electricity declined 0.1 percent in January. In contrast, the natural gas index increased 1.0 percent over the same period.
The index for energy decreased 0.1 percent over the past 12 months. The gasoline index fell 7.5 percent over this 12-month span. In contrast, the index for electricity increased 6.3 percent over the last 12 months and the index for natural gas rose 9.8 percent.
All items less food and energy
The index for all items less food and energy rose 0.3 percent in January. The shelter index increased 0.2 percent over the month. The index for owners' equivalent rent also rose 0.2 percent in January as did the index for rent. The lodging away from home index fell 0.1 percent over the month.
The index for airline fares increased 6.5 percent over the month. The personal care index rose 1.2 percent in January and the recreation index rose 0.5 percent. The index for communication rose 0.5 percent over the month and the index for apparel increased 0.3 percent. The new vehicles index rose 0.1 percent in January.
The medical care index increased 0.3 percent in January. The index for hospital services increased 0.9 percent over the month and the index for physicians' services rose 0.3 percent. The prescription drugs index was unchanged in January.
The used cars and trucks index declined 1.8 percent in January, and the household furnishings and operations index decreased 0.1 percent over the month. The index for motor vehicle insurance decreased 0.4 in January.
The index for all items less food and energy rose 2.5 percent over the past 12 months. The shelter index increased 3.0 percent over the last year. Other indexes with notable increases over the last year include medical care (+3.2 percent), household furnishings and operations (+3.9 percent), recreation (+2.5 percent), and personal care (+5.4 percent).
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.4 percent over the last 12 months to an index level of 325.252 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.2 percent over the last 12 months to an index level of 317.942 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.2 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.
Revised Seasonal Adjustment Factors and End of Year Files
In accordance with annual practice, relative importance values have been updated, and seasonal adjustment factors were recalculated to reflect price movements from the just-completed calendar year. This process results in revisions to seasonally adjusted indexes for the previous 5 years. Revised seasonal adjustment factors and end of year files are available at www.bls.gov/web/cpi.supp.toc.htm.
Upcoming CPI publication changes
With the publication of January 2026 CPI data on February 13, 2026, several index titles changed.
The following CPI indexes had title changes: *Care of invalids and elderly at home was changed to home health care *Technical and business school tuition and fees was changed to technical and vocational school tuition and fixed fees *Housing at school, excluding board was changed to lodging while at school
More information is available in the series title change table at: www.bls.gov/cpi/additional-resources/series-title-changes.htm
Following publication of December 2025 data in January 2026, the Consumer Price Index (CPI) compressed tape format files (download.bls.gov/pub/time.series/compressed/tape.format/) was discontinued. Revised historical unadjusted and seasonally adjusted indexes are available in a similar format through BLS time series downloads for the following CPI surveys:
CU: Consumer Price Index, all urban consumers CW: Consumer Price Index, all urban wage earners and clerical workers AP: Average Price Data SU: Chained Consumer Price Index, all urban consumers
Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.
MortgageRates.news analysis · Historical context
The mortgage market around this release
This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.
Read consumer inflation on a consistent basis
The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.
Nearest published observation on or before each target date
Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.
What that benchmark difference would mean for a $300,000 loan
At the publication reference$1,816.05/month
6.09% · Feb 12, 2026
At the later reference$1,819.92/month
6.11% · Mar 12, 2026
The illustrative principal-and-interest payment is $3.88 higher per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.
Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.
Sources, historical coverage and calculation limits
Freddie Mac Primary Mortgage Market Survey®: available observations from Apr 2, 1971 through Nov 5, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
U.S. Department of the Treasury: available observations from Jan 4, 2016 through Nov 10, 2026. Cached history snapshot. History retrieved or verified Nov 11, 2026.
The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.
Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.