In a recent report released by the U.S. Bureau of Labor Statistics, inflation continues to rise, with significant insights on the movement of prices.
The report states that the “Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis,” after witnessing an increase of 0.6 percent in the preceding month of August.
Delving deeper into the statistics, it was noted that “over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment.”
This rise is attributed to several factors.
The “index for shelter was the largest contributor to the monthly all items increase, accounting for over half of the increase.”
On top of that, the energy sector showed notable fluctuations.
According to the report, “the energy index rose 1.5 percent over the month,” with the gasoline index also seeing a significant rise.
The food index “increased 0.2 percent in September,” while it was observed that “the index for food at home increased 0.1 percent over the month” and “the index for food away from home rose 0.4 percent.”
Further insights indicate a consistent increase in specific segments. The report highlights that the “index for all items less food and energy rose 0.3 percent in September, the same increase as in August.”
Within this category, several indexes including “rent, owners’ equivalent rent, lodging away from home, motor vehicle insurance, recreation, personal care, and new vehicles” sldo saw a hike.
However, not all was gloomy in the inflation report.
The “index for used cars and trucks fell 2.5 percent in September,” and the apparel index saw a decline, “declined 0.8 percent over the month.”
