Part 2: The Inflation Rate

Complete the following exercise: Visit the Bureau of Labor Statistics Web Site, http://www.bls.govews.release/cpi.toc.htm

(http://www.bls.govews.release/cpi.toc.htm). You will be using "Consumer Price Index Summary" and the "Table 1 Consumer Price Index for All Urban Consumers (CPI-U): U. S. city average, by expenditure category ".

U.S. BUREAU OF LABOR STATISTICS HOME SUBJECTS V DATA TOOLS V PUBLICATIONS ECONOMIC RELEASES V CLASSROOM BETA V Bureau of Labor Statistics > Economic News Release > Consumer Price Index Economic News Release Consumer Price Index Summary Transmission of material in this release is embargoed until 8:30 a.m. (ET) Thursday, November 10, 2022 USDL - 22-2140 Technical information: (202) 691-7000 * cpi_info@bls . gov * www. bls . gov/cpi Media contact: (202) 691-5902 * PressOffice@bls . govCONSUMER PRICE INDEX - OCTOBER 2622 The Consumer Price Index For All Urban Consumers (CPI-U) rose 6.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.7 percent betore seasonal adjustment. The index For shelter contributed over half of the monthly all items increase, with the indexes For gasoline and food also increasing. The energy index increased 1.8 percent over the month as the gasoline index and the electricity index rose, but the natural gas index decreased. The food index increased 6.6 percent over the month with the food at home index rising 6.4 percent. The index For all items less food and energy rose 6.3 percent in October, after rising 6.6 percent in September. The indexes for shelter, motor vehicle insurance, recreation, new vehicles, and personal care were among those that increased over the month. Indexes which declined in October included the used cars and trucks, medical care, apparel, and airline fares indexes. The all items index increased 7.7 percent for the 12 months ending October, this was the smallest 12-month increase since the period ending January 2622. The all items less food and energy index rose 5.3 percent over the last 12 months. The energy index increased 17.6 percent for the 12 months ending October, and the food index increased 16.9 percent over the last year, all 0% these increases were smaller than for the period ending September. Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city average Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Apr. May Jun. Jul. Aug. Sep. Oct. ended 2022 2022 2022 2022 2022 2022 2022 All items Oct. 2022 0.3 1.0 1.3 0.0 0.1 0.4 0.4 Food 7.7 0.9 1.2 1.0 1.1 0.8 0.8 0.6 10.9 Food at home 1.0 1.4 1.0 1.3 0.7 0.7 0.4 12.4 Food away from home(1) 0.6 0.7 0.9 0.7 0.9 0.9 0.9 8.6 Energy -2.7 3.9 7.5 -4.6 -5.0 -2.1 1.8 Energy commodities 17.6 -5.4 4.5 10.4 -7.6 -10.1 -4.7 4.4 Gasoline (all types) 19.3 -6.1 4.1 11.2 -7.7 -10.6 -4.9 4.0 Fuel oil(1) 17.5 2.7 16.9 -1.2 -11.0 -5.9 2.7 19.8 68.5 Energy services 1.3 3.0 3.5 0.1 2.1 1.1 -1.2 Electricity 15.6 0.7 1.3 1.7 1.6 1.5 0.4 0.1 Utility (piped) gas service 14.1 3.1 8.0 8.2 -3.6 3.5 2.9 -4.6 20.0 All items less food and energy 0.6 0.6 0.7 0.3 0.6 0.6 0.3 6.3 Commodities less food and energy commodities 0.2 0.7 0.8 0.2 0.5 0.0 -0.4 5.1New vehicles Used cars and trucks Apparel Medical care commoditiesu) Services less energy services Shelter Transportation services Medical care services Footnotes I(1)_Not seasonally adjusted. Food 1.1 0.4 -0.8 0.1 0.7 0.5 3.1 0.5 1.0 1.8 0.7 0.3 0.6 0.6 1.3 0.4 0.7 1.6 0.8 0.4 0.7 0.6 2.1 0.7 The Food index increased 8.6 percent in October Following a 5,8-percent increase in September. The Food at home index rose 9.4 percent in October, the smallest monthly increase in this index since December 2821. Four oF the six major grocery store Food group indexes increased over the month. The index For other Food at home increased 6.9 percent in October, aFter rising 0.5 percent in September. The index For meats, poultry, Fish, and eggs rose 8.6 percent over the month while the index For cereals and bakery products increased 9.8 percent in October. The index For nonalcoholic beverages rose 9,5 percent in October, aFter rising 6.6 percent last month. 0.6 -0.4 -0.1 0.6 0.4 0.5 -0.5 0.4 0.8 -0.1 0.2 0.2 0.6 0.7 0.5 0.8 0.7 1.1 -0.3 0.1 0.8 0.7 1.9 1.0 0.4 -Z.4 -0.7 0.0 0.5 0.8 0.8 -0.6 8.4 2.0 4.1 3.1 6.7 6.9 15.2 5.4 In contrast, the index For Fruits and vegetables Fell 6.9 percent over the month aFter increasing 1.6 percent in September. The index For fresh Fruits Fell 2.4 percent and the index For Fresh vegetables Fell 6.5 percent. The index For dairy and related products also declined in October, Falling 6.1 percent. The Food away From home index rose 6.9 percent in October, as it did in August and September. The index For Full service meals increased 1.1 percent and the index For limited service meals increased 6.8 percent over the month. The Food at home index rose 12.4 percent over the last 12 months. The index For cereals and bakery products increased 15.9 percent over the year and the index For dairy and related products rose 15.5 percent. The remaining major grocery store Food groups posted increases ranging From 8.6 percent (meats, poultry, Fish, and eggs) to 15.4 percent (other Food at home). The index For Food away From home rose 8.5 percent over the last year. The index For Full service meals rose 9.6 percent over the last 12 months, and the index For limited service meals rose 7.1 percent over the same period. Energy The energy index increased 1.8 percent in October aFter Falling in the preceding three months. The gasoline index rose 4.6 percent over the month, also Following three consecutive declines. (BeFore seasonal adjustment, gasoline prices rose 3.1 percent in October.) The electricity index also increased over the month, rising 6.1 percent. However, the index For natural gas decreased in October, Falling 4.6 percent aFter increasing 2.9 percent in September. The energy index rose 17.6 percent over the past 12 months. The gasoline index increased 17.5 percent over the span and the Fuel oil index rose 68.5 percent. The index For electricity rose 14.1 percent over the last 12 months, and the index For natural gas increased 26.6 percent over the same period. Energy The energy index increased 1.8 percent in October aFter Falling in the preceding three months. The gasoline index rose 4.6 percent over the month, also Following three consecutive declines. (BeFore seasonal adjustment, gasoline prices rose 3.1 percent in October.) The electricity index also increased over the month, rising 6.1 percent. However, the index For natural gas decreased in October, Falling 4.6 percent aFter increasing 2.9 percent in September. The energy index rose 17.6 percent over the past 12 months. The gasoline index increased 17.5 percent over the span and the Fuel oil index rose 68.5 percent. The index For electricity rose 14.1 percent over the last 12 months, and the index For natural gas increased 26.6 percent over the same period. All items less Food and energy The index For all items less Food and energy rose 6.3 percent in October, Following a 6.6-percent increase in September. The shelter index continued to increase, rising 6.8 percent in October, the largest monthly increase in that index since August 1996. The rent index rose 6.7 percent over the month, and the owners' equivalent rent index rose 6.6 percent. The index For lodging away From home increased 4.9 percent in October, aFter declining 1.6 percent in September. The shelter index was the dominant Factor in the monthly increase in the index For all items less Food and energy; other components were a mix oF increases and declines. Among the indexes that rose in October was the index For motor vehicle insurance which rose 1.7 percent in October after rising 1.6 percent in September. The index For recreation rose 6.7 percent over the month, Following a smaller 6.1-percent increase in the previous month. The new vehicles index increased 6.4 percent in October, and the personal care index rose 6.5 percent. In contrast, the medical care index tell 6.5 percent in October after rising 6.8 percent in September. The index for hospital and related services decreased 6.2 percent over the month, and the index For prescription drugs declined 6.1 percent. The index for physicians' services was unchanged in October. Other indexes which declined over the month include the index For used cars and trucks, which tell 2.4 percent in October after decreasing 1.1 percent in September. The apparel index fell 6.7 percent over the month, after declining 6.3 percent the previous month. The index For airline Fares fell 1.1 percent in October, following a 6.8-percent increase in September. The index for household furnishings and operations was unchanged over the month. The index For all items less food and energy rose 6.3 percent over the past 12 months. The shelter index increased 6.9 percent over the last year, accounting For over 46 percent ot the total increase in all items less Food and energy. Other indexes with notable increases over the last year include medical care (+5.6 percent), household Furnishings and operations (+8.4 percent), new vehicles (+8.4 percent), and personal care (+6.4 percent). Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 7.7 percent over the last 12 months to an index level of 298.612 (1982-84=166). For the month, the index increased 6.4 percent prior to seasonal adjustment. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-w) increased 7.9 percent over the last 12 months to an index level of 293.663 (1982-84=166). For the month, the index increased 6.4 percent prior to seasonal adjustment. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 7.5 percent over the last 12 months. For the month, the index increased 6.4 percent on a not seasonally adjusted basis. Please note that the indexes For the past 16 to 12 months are subject to revision. The Consumer Price Index for November 2622 is scheduled to be released on Tuesday, December 13, 2622, at 8:36 a.m. (ET)