Consumer Prices Accelerated in September

The Consumer Price Index grew 0.5% in September on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.4% August increase. Over the last 12 months, the all-items index rose 2.2%.

Prices for all items less food and energy, the “core CPI,” grew 0.1% in September, following a 0.2% August increases. The index rose 1.7% for the 12 months ending in September.

The food index increased 0.1%. Prices for food at home were unchanged, while food away from home grew 0.3%. Over the past 12 months, food prices are up 1.2%.

The energy index jumped 6.1% in September after a 2.8% increase in August. September’s energy index increase was driven by a 13.1% increase in gasoline prices due to Hurricanes Harvey and Irma. The energy index rose 10.1% in the last twelve months.

Read the BLS release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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