October 24, 2014
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.7 percent from September 2013 to September 2014, the same increase as for the 12 months ended in August 2014. The food index rose 3.0 percent over that 12-month period, while the energy index declined 0.6 percent. The shelter index has been gradually increasing, reaching 3.0 percent for the first time since January 2008.
The food at home index rose 3.2 percent over the past year while the food away from home index rose 2.7 percent. The index for beef and veal was up 17.8 percent and the pork index up 11.4 percent. In contrast, the fruits and vegetables index increased only 0.9 percent, nonalcoholic beverages just 0.2 percent, and cereals and bakery products fell 0.1 percent.
The energy index fell 0.6 percent over the last 12 months, with its components mixed. The natural gas index rose 5.8 percent and electricity 2.8 percent, however the gasoline index declined 3.6 percent and the fuel oil index 3.2 percent.
Other indexes that have declined over the past year include airline fares (down 3.0 percent), household furnishings and operations (down 1.4 percent) and used cars and trucks (down 0.4 percent).