November 2022
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September. The index for shelter contributed over half of the monthly all items increase, with the indices for gasoline and food also increasing. The energy index increased 1.8 percent as the gasoline index and the electricity index rose, but the natural gas index decreased. The food index increased 0.6 percent with the food at home index rising 0.4 percent. The index for all items less food and energy rose 0.3 percent in October, after rising 0.6 percent in September. The indices for shelter, motor vehicle insurance, recreation, new vehicles, and personal care were among those that increased. Indices which declined in October included the used cars and trucks, medical care, apparel, and airline fares indices.
The all items index increased 7.7 percent for the 12 months ending October. This was the smallest 12-month increase since the period ending January 2022. The all items less food and energy index rose 6.3 percent. The energy index increased 17.6 percent, and the food index increased 10.9 percent over the last year; all of these increases were smaller than for the period ending September.
