CPI for all items increases 0.4% as gasoline, shelter, food indexes rise
Source: U.S. Bureau of Labor Statistics
Economic News Release USDL-16-0986
Consumer Price Index Summary
Transmission of material in this release is embargoed until 8:30 a.m. (EDT) May 17, 2016
Technical information: (202) 691-7000 Reed.Steve@bls.gov www.bls.gov/cpi
Media Contact: (202) 691-5902 PressOffice@bls.gov
CONSUMER PRICE INDEX APRIL 2016
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 1.1 percent before seasonal adjustment.
The seasonally adjusted all items increase was broad-based, with the indexes for food, energy, and all items less food and energy all rising in April. The food index rose 0.2 percent after declining in March, with the food at home index increasing slightly. The index for energy increased 3.4 percent, with the gasoline index rising 8.1 percent, and the indexes for fuel oil and natural gas also advancing.
The index for all items less food and energy increased 0.2 percent in April. The shelter index rose 0.3 percent, as did the index for medical care, and the indexes for motor vehicle insurance, airline fares, recreation, and education increased as well. Several other component indexes increased slightly, including those for alcoholic beverages, tobacco, and personal care. In contrast, the indexes for household furnishings and operations, apparel, new vehicles, used cars and trucks, and communication all declined.
The all items index rose 1.1 percent for the 12 months ending April, a larger increase than the 0.9-percent increase for the 12 months ending March. The index for all items less food and energy rose 2.1 percent over the last 12 months, compared to a 2.2-percent rise for the 12 months ending March. The food index has risen 0.9 percent over the last 12 months, and the energy index has declined 8.9 percent.
....
Not seasonally adjusted CPI measures
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.1 percent over the last 12 months to an index level of 239.261 (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 0.8 percent over the last 12 months to an index level of 233.438 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.7 percent over the last 12 months. For the month, the index rose 0.6 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
The Consumer Price Index for May 2016 is scheduled to be released on Thursday, June 16, 2016, at 8:30 a.m. (EDT).
Read more: http://www.bls.gov/news.release/cpi.nr0.htm
Previously at DU:
CPI for all items falls 0.1% in December as energy and food indexes decline
CPI for all items falls 0.2% in September; energy declines outweigh food, shelter...
CPI for all items rises 0.3% in June as gasoline, shelter, food indexes rise
The large print giveth, and the fine print taketh away. From the commentary about the June 2015 report:
Note that there is a:
Consumer Price Index for All Urban Consumers (CPI-U)
Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
The fine print goes into the distinction.
Here's the thread from April 2015 about the March 2015 CPI:
CPI for all items rises 0.2% as gasoline and shelter prices rise; food prices decline
Cryptoad points out the significance of the CPI-W. It is used to calculate Social Security's Cost-of-Living Adjustment (COLA):
Consumer Price Index Frequently Asked Questions (FAQs)
What goods and services does the CPI cover?
FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)
HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
APPAREL (men's shirts and sweaters, women's dresses, jewelry)
TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);
EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).
The CPI-U is used by the Treasury Department to set the interest rates on I Bonds.
I Savings Bonds
Interest on an I Bond rates is a combination of two rates:
1.A fixed rate of return which remains the same throughout the life of the I Bond
and
2.A variable inflation rate which we calculate twice a year, based on changes in the nonseasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy (CPI-U for March compared with the CPI-U for September of the same year, and then CPI-U for September compared with the CPI-U for March of the following year).
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