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December 10, 2021 - The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of
Labor Statistics reported today. Over the last 12 months, the all items index increased 6.8 percent before seasonal adjustment.The monthly all items seasonally adjusted increase was the result of broad increases in most component indexes, similar to last month. The indexes for gasoline, shelter, food, used cars and trucks, and new vehicles were among the larger contributors. The energy index rose 3.5 percent in November as the gasoline index increased 6.1 percent and the other major energy component indexes also rose. The food index increased 0.7 percent as the index for food at home rose 0.8 percent.
The index for all items less food and energy rose 0.5 percent in November following a 0.6-percent increase in October. Along with shelter, used cars and trucks, and new vehicles, the indexes for household furnishings and operations, apparel, and airline fares were among those that increased. The indexes for motor vehicle insurance, recreation, and communication all declined in November.
The all items index rose 6.8 percent for the 12 months ending October, the largest 12-month increase since the period ending June 1982. The index for all items less food and energy rose 4.9 percent over the last 12 months, while the energy index rose 33.3 percent over the last year, and the food index increased 6.1 percent. These changes are the largest 12-month increases in at least 13 years in the respective series.
Food
The food index increased 0.7 percent in November after rising 0.9 percent in both September and October. The food at home index increased 0.8 percent in November as all six major grocery store food group indexes rose; this was the third consecutive month that all six increased. The indexes for other food at home and for fruits and vegetables both increased 1.0 percent in November. The index for meats, poultry, fish, and eggs rose 0.9 percent in November. Within this group, the index for pork rose sharply, increasing 2.2 percent, while the index for eggs declined in November, falling 2.7 percent.
The cereals and bakery products index increased 0.8 percent in November after larger increases in September and October. The index for dairy and related products increased 0.2 percent over the month, the same increase as the prior month. The index for nonalcoholic beverages also rose 0.2 percent, its smallest monthly increase in the last 6 months.
The food away from home index rose 0.6 percent in November following a 0.8-percent increase the prior month. The index for limited service meals continued to rise sharply, increasing 1.0 percent over the month, while the index for full service meals rose 0.4 percent in November.
The food at home index rose 6.4 percent over the past 12 months, the largest 12-month increase since the period ending December 2008. All of the six major grocery store food group indexes increased over the period. The index for meats, poultry, fish, and eggs increased 12.8 percent, with the index for beef rising 20.9 percent. The index for dairy and related products posted the smallest increase, rising 1.6 percent over the last 12 months. The remaining major grocery store food group indexes posted increases ranging from 4.0 percent (fruits and vegetables) to 5.7 percent (other food at home).
The index for food away from home rose 5.8 percent over the last year, the largest 12-month increase since the period ending January 1982. The index for limited service meals rose 7.9 percent over the last 12 months, and the index for full service meals rose 6.0 percent. The index for food at employee sites and schools, in contrast, declined 44.9 percent over the past 12 months.
Energy
The energy index rose 3.5 percent in November after rising 4.8 percent in October. The gasoline index rose 6.1 percent in November, the same increase as the prior month. (Before seasonal adjustment, gasoline prices rose 2.8 percent in November.) The electricity index increased 0.3 percent in November after rising 1.8 percent in October. The index for natural gas rose 0.6 percent in November following a 6.6-percent increase the prior month.
The energy index rose 33.3 percent over the past 12 months with all major energy component indexes increasing sharply. The gasoline index rose 58.1 percent over the last year, its largest 12-month increase since the period ending April 1980. The index for natural gas rose 25.1 percent over the last 12 months, and the electricity index rose 6.5 percent.
All items less food and energy
The index for all items less food and energy rose 0.5 percent in November. The shelter index increased 0.5 percent over the month, as the indexes for rent and owners’ equivalent rent both rose 0.4 percent; these increases were the same as in October. The index for lodging away from home rose 2.9 percent in November after rising 1.4 percent in October. Vehicle indexes also continued to rise in November. The index for used cars and trucks rose 2.5 percent over the month, the same increase as in October. The index for new vehicles rose 1.1 percent in November after a 1.4-percent increase in October.
The index for household furnishings and operations increased in November, rising 0.8 percent, the same increase as in October. The apparel index rose 1.3 percent in November after being unchanged in October. The index for airline fares turned up in November, rising 4.7 percent after declining in recent months.
The medical care index also rose in November, increasing 0.2 percent after rising 0.5 percent in October. The index for physicians’ services rose 0.4 percent, and the index for prescription drugs increased 0.3 percent, while the index for hospital services declined 0.3 percent.
A few indexes declined in November. The motor vehicle insurance index fell 0.8 percent over the month after being unchanged in October. The recreation index fell 0.2 percent in November after rising in each of the last 9 months. The index for communication also declined 0.2 percent in November.
The index for all items less food and energy rose 4.9 percent over the past 12 months, its largest 12-month increase since the period ending June 1991. The index for used cars and trucks rose 31.4 percent over the last 12 months, and the index for new vehicles rose 11.1 percent. The shelter index rose 3.8 percent, the largest 12-month increase since the period ending June 2007. The index for medical care increased 1.7 percent over the last year.
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 6.8 percent over the last 12 months to an index level of 277.948 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 7.6 percent over the last 12 months to an index level of 273.042 (1982-84=100). For the month, the index rose 0.5 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 6.7 percent over the last 12 months. For the month, the index increased 0.5 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
Source: BLS
