Friday, May 22, 2015

CPI Increases Despite Lower Energy Prices

The Consumer Price Index increased 0.1% in April on a seasonally adjusted basis, as further declines in energy was offset by an increase in all items less food and energy, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the CPI declined 0.1% SAAR — the third year-over-year decline in 2015.

The index for energy fell 1.3% month-over-month, driven by an 8.4% decline in fuel oil and a 1.7% decline in gasoline. On a yearly basis, the energy index fell 18.9% SAAR.

Non-energy items drove the monthly increase, as all items less food and energy increased 0.3% from March. The largest monthly gains were a 0.9% increase in medical care services, a 0.6% increase in used cars and trucks and a 0.3% gain in shelter. In contrast, the index for apparel and airline fares declined in April.

The food index, however, was flat on a monthly basis as a 0.2% increase in food away from home was offset by a 0.2% decline in food at home. On a yearly basis, the index for food increased 2.0% attributable to increases in both food at home and food away from home.

Read the Bureau of Labor Statistics report.

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