January 16, 2004
For the 12-month period ended in December 2003, the Consumer Price Index for all Urban Consumers (CPI-U) increased 1.9 percent. In 2002 the increase was 2.4 percent.
Excluding food and energy, the CPI-U advanced 1.1 percent during the 12-month period ended in December 2003. This compares with a 1.9-percent rise in "core" CPI in all of 2002.
The principal reason for the smaller increase in core CPI in 2003 was a smaller advance in shelter costs—up 2.2 percent in 2003 compared with a 3.1-percent rise in 2002. The 2003 increase in the energy index of 6.9 percent was less than the 10.7-percent increase in 2002. The food index rose 3.6 percent in 2003 and 1.5 percent in 2002.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, CPI up 1.9 percent over the year at https://www.bls.gov/opub/ted/2004/jan/wk2/art05.htm (visited August 12, 2022).