October 2023
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis, after increasing 0.6 percent in August, the U.S. Bureau of Labor Statistics reported. The index for shelter was the largest contributor to the monthly all items increase, accounting for over half of the increase. An increase in the gasoline index was also a major contributor. While the major energy component indices were mixed, the energy index rose 1.5 percent. The food index increased 0.2 percent in September, as it did in the previous two months. The index for food at home increased 0.1 percent while the index for food away from home rose 0.4 percent. The index for all items less food and energy rose 0.3 percent in September, the same increase as in August. Indices which increased in September include rent, owners' equivalent rent, lodging away from home, motor vehicle insurance, recreation, personal care, and new vehicles. The indices for used cars and trucks and for apparel were among those that decreased over the month.
The all items index increased 3.7 percent for the 12 months ending September, the same increase as the 12 months ending in August. The all items less food and energy index rose 4.1 percent. The energy index decreased 0.5, and the food index increased 3.7 percent.
