Consumer Price Index (CPI) / Inflation Decreased in December
Amount offsets November Increase
The US Bureau of Labor statistics reports a 0.1% decline in December in the Consumer Price Index (CPI), which is used to measure the cost of food, energy, shelter, and other products and services we use. This increase offsets the 0.1% increase in November. Since November, items the CPI tracks increased 6.5%.
As the chart shows, however, most items remain higher in cost than they were 12 months ago. Gasoline prices dropping is masking increases that still occurred in December including food, apparel, medical care and products, housing, and transportation.
At Home Food Items that Increased the Most
- Cereals & Bakery: 16.1%
- Dairy & Related Products: 15.3%
- Nonalcoholic Beverages: 12.6%
- Eggs: 11.1%
Catch Our Podcast on How Food Prices Are Impacting Piggy’s Restaurant
12-Month Inflation % Change
- Food at Home 11.8%
- Food Away From Home 8.3%
- Fuel Oil 41.5%
- Gasoline -1.5%
- Electric & Gas 15.6%
- Apparel 2.9%
- New Vehicles 5.9%
- Used Cars -8.8%
- Medical Items 3.2%
- Alcohol & Tobacco 5.7%
- Housing (rental and ownership) 7.5%
- Medical Care 4.1%
- Car Maintenance & Repair 13.8%
- Airline Fares 28.5%
