January 18, 2000
For the 12 month period ended in December, the Consumer Price Index for All Urban Consumers (CPI-U) rose 2.7 percent. This compares with an increase of 1.6 percent for all of 1998.
The acceleration in 1999 reflects an upturn in petroleum-based energy prices. The energy index, which declined 8.8 percent in 1998, increased 13.4 percent in 1999. Following a 15.1 percent decline in 1998, petroleum-based energy costs increased 29.5 percent in 1999, its largest annual advance since a 35.4 percent increase in 1990
The CPI-U excluding food and energy advanced 1.9 percent in 1999. This rise was the smallest annual change in the index for all items less food and energy since a 1.5 percent increase in 1965.