September 2023
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6 percent in August on a seasonally adjusted basis, after increasing 0.2 percent in July, the U.S. Bureau of Labor Statistics reported. The index for gasoline was the largest contributor to the monthly all items increase, accounting for over half of the increase. Also contributing to the increase was continued advancement in the shelter index, which rose for the 40th consecutive month. The energy index rose 5.6 percent as all the major energy component indices increased. The food index increased 0.2 percent in August, as it did in July. The index for food at home increased 0.2 percent while the index for food away from home rose 0.3 percent. The index for all items less food and energy rose 0.3 percent in August, following a 0.2-percent increase in July. Indices which increased in August include rent, owners' equivalent rent, motor vehicle insurance, medical care, and personal care. The indices for lodging away from home, used cars and trucks, and recreation were among those that decreased over the month.
The all items index increased 3.7 percent for the 12 months ending August, a larger increase than the 3.2-percent increase for the 12 months ending in July. The all items less food and energy index rose 4.3 percent. The energy index decreased 3.6 percent, and the food index increased 4.3 percent over the last year.
