December 2022
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in November on a seasonally adjusted basis, after increasing 0.4 percent in October. The index for shelter was by far the largest contributor to the monthly all items increase, more than offsetting decreases in energy indices. The food index increased 0.5 percent with the food at home index also rising 0.5 percent. The energy index decreased 1.6 percent as the gasoline index, the natural gas index, and the electricity index all declined. The index for all items less food and energy rose 0.2 percent in November, after rising 0.3 percent in October. The indices for shelter, communication, recreation, motor vehicle insurance, education, and apparel were among those that increased. Indices which declined in November include the used cars and trucks, medical care, and airline fares indices.
The all items index increased 7.1 percent for the 12 months ending November; this was the smallest 12-month increase since the period ending December 2021. The all items less food and energy index rose 6.0 percent. The energy index increased 13.1 percent, and the food index increased 10.6 percent over the last year. All of these increases were smaller than for the period ending October.
