In this article, you will learn what are the latest CPI numbers. The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the US and various geographic areas. Average price data for select utility, automotive fuel, and food items are also available.
What are the Latest CPI Numbers?
Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using it expendi data.
CPI-U, US CITY AVERAGE, ALL ITEMS:
- NSA -0.3% in Dec 2022
- SA +0.1% in Dec 2022
- NSA +6.5% since Dec 2021
CPI-U, US CITY AVERAGE, ALL ITEMS LESS FOOD AND ENERGY:
- NSA +0.2% in Dec 2022
- SA +0.4% in Dec 2022
- NSA +5.7% since Dec 2021
CPI-U, US CITY AVERAGE, MEDICAL CARE:
-NSAunchanged in Dec 2022
- SA +0.3% in Dec 2022
- NSA +4.0% since Dec 2021
CPI-W, US CITY AVERAGE, ALL ITEMS:
- NSA -0.5% in Dec 2022
- SA unchanged in Dec 2022
- NSA +6.3% since Dec 2021
Summary of Latest Consumer Price Index
The annual inflation rate in the US likely slowed to 6.2% in January 2023 from 6.5% in December 2022. marking a seventh consecutive month of falling and the lowest reading since October 2021. Core inflation, which excludes volatile food and energy, is have eased to 5.4% from 5.7%, also the lowest since the end of 2021. On a seasonally adjusted month-over-month basis, however, the CPI likely rose 0.5% in January, the most in three months, following an upwardly revised 0.1% gain in December and tracking an increase in prices of gasoline and used cars. Core prices are seen growing 0.4% for a second month. Although inflation has shown signs of peaking at 9.1% in June last year, it remains more than three times above the Fed's 2% target and continues to point to a broad-based advance on the general price level,particularly services and housing. In December, the CPI in the US reached 296.797.
What are the Sources of Data for CPI?
Prices for the goods and services used to calculate the CPI are collected in 75 urban areas throughout the country and from about 23.000 retail and service establishments. Data on rents are collected from about 50.000 landlords or tenants.
The weight for an item is derived from reported expenses on that item as estimated by the Consumer Expenditure Survey. This article is about what are the latest CPI numbers.
