CPI – November 2014

The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.3 percent in November on a seasonally adjusted basis.

Over the last 12 months, the all items index increased 1.3 percent before seasonal adjustment.

The gasoline index posted its sharpest decline since December 2008 and was the main cause of the decrease in the seasonally adjusted all items index. The indexes for fuel oil and natural gas also declined, and the energy index fell 3.8 percent.

The food index rose 0.2 percent with major grocery store food groups mixed. The index for all items less food and energy increased 0.1 percent in November.

The shelter index rose 0.3 percent, and the indexes for medical care, airline fares, and alcoholic beverages also rose.

In contrast, the indexes for apparel, used cars and trucks, recreation, household furnishings and operations, personal care, and new vehicles all declined in November.

The all items index increased 1.3 percent over the last 12 months, a notable decline from the 1.7 percent figure from the 12 months ending October. The index for all items less food and energy has increased 1.7 percent over the last 12 months, compared to 1.8 percent for the 12 months ending October. The food index has risen 3.2 percent over the span. However, the energy index has declined 4.8 percent over the past 12 months, with the gasoline and fuel oil indexes both falling over 10 percent.

Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city average

Seasonally adjusted changes from preceding month                      
                                                                          Un-  
                                                                       adjusted
                                                                        12-mos.
                              May   June  July  Aug.  Sep.  Oct.  Nov.   ended 
                              2014  2014  2014  2014  2014  2014  2014   Nov.  
                                                                         2014  
                                                                               
                                                                               
 All items..................    .4    .3    .1   -.2    .1    .0   -.3      1.3
  Food......................    .5    .1    .4    .2    .3    .1    .2      3.2
   Food at home.............    .7    .0    .4    .2    .3    .1    .1      3.4
   Food away from home (1)..    .2    .2    .3    .2    .3    .2    .4      2.9
  Energy....................    .9   1.6   -.3  -2.6   -.7  -1.9  -3.8     -4.8
   Energy commodities.......    .6   3.0   -.3  -3.9  -1.1  -3.0  -6.4    -10.2
    Gasoline (all types)....    .7   3.3   -.3  -4.1  -1.0  -3.0  -6.6    -10.5
    Fuel oil (1)............  -1.4  -1.7   -.7  -1.2  -2.1  -4.0  -3.5    -10.1
   Energy services..........   1.4   -.4   -.4   -.6   -.2   -.2   -.3      2.9
    Electricity.............   2.3    .2   -.3    .1   -.7    .5    .1      2.8
    Utility (piped) gas                                                        
       service..............  -1.7  -2.6   -.4  -2.8   1.6  -2.7  -1.7      3.2
  All items less food and                                                      
     energy.................    .3    .1    .1    .0    .1    .2    .1      1.7
   Commodities less food and                                                   
      energy commodities....    .1    .1    .0   -.1    .0    .0   -.4      -.5
    New vehicles............    .2   -.3    .3    .2    .0    .2   -.1       .6
    Used cars and trucks....   -.1   -.4   -.3   -.3   -.1   -.9  -1.2     -3.1
    Apparel.................    .3    .5    .2   -.2    .0   -.2  -1.1      -.3
    Medical care commodities    .5    .7    .3   -.1    .5    .0    .6      3.1
   Services less energy                                                        
      services..............    .3    .1    .1    .0    .2    .3    .2      2.5
    Shelter.................    .3    .2    .3    .2    .3    .2    .3      3.0
    Transportation services    1.0    .1   -.7   -.6    .1    .8    .3      1.8
    Medical care services...    .3    .0    .1    .0    .1    .2    .4      2.3

   1 Not seasonally adjusted.
By | 2014-12-17T15:00:00+00:00 December 17th, 2014|Categories: Economics, Lagging|0 Comments

About the Author:

Bryan Sanford is Vice President and Investment Officer of Charter Trust Company. He joined the firm in 2009 and is based in our Concord NH office. Mr. Sanford received his Bachelors of Science degree from the University of New Hampshire, Durham. Mr. Sanford has held the FINRA Series 7 license. Prior to joining Charter Trust, Mr. Sanford served in the United States Marine Corps as an infantryman. He participated in Operation Iraqi Freedom, touring in Fallujah, Iraq.

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