Key Points:
- The Consumer Price Index (CPI) rose 0.5% in January from December and is up 6.4% in the last year.
- The core CPI, which excludes food and energy, rose 0.4% in January and is up 5.6% from the previous year.
- The overall food index rose 10.1%, food at home rose 11.3%, and food away from home rose 8.2% over the past 12 months.
- The largest increase in food was for cereals and bakery products, which increased 15.6% and dairy which increased 14.0%.
- The index for food away from home rose 8.2%, full service meals rose 8.1%, and limited service meals rose 6.7% over the last 12 months.
- The energy index rose 8.7% over the past 12 months as all the major energy component indexes increased.
- Fuel oil increased 27.7%, gasoline increased 1.5%, electricity increased 11.9%, and natural gas rose 26.7% over the last 12 months.
- The index for all items less food and energy rose 6.3% over the past 12 months.
- The index for airline fare rose 25.6%, motor vehicle insurance rose 14.7%, rent increased by 8.6%, and shelter increased 7.9%.
- The Right Facts will continue to monitor inflation.