By Nick Dobbins
November 2020
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in December on a seasonally adjusted basis after rising 0.2% in November, the U.S. Bureau of Labor Statistics reported today. The increase in the all items index was driven by an 8.4-percent increase in the gasoline index, which accounted for more than 60% of the overall increase. The other components of the energy index were mixed, resulting in an increase of 4.0% for the month. The food index rose, as both the food at home and the food away from home indexes increased 0.4%. The index for all items less food and energy increased 0.1% after rising 0.2% in the previous month. The indexes for apparel, motor vehicle insurance, new vehicles, personal care, and household furnishings and operations all rose in December. The indexes for used cars and trucks, recreation, and medical care were among those to decline over the month.
The all items index rose 1.4% for the 12 months ending December, a slightly larger increase than the 1.2-percent rise reported for the period ending November. The index for all items less food and energy rose 1.6% over the last 12 months, as it did in the periods ending October and November. The food index rose 3.9% over the last 12 months, while the energy index fell 7.0%..
