The Consumer Price Index for September was released by the U.S. Bureau of Labor Statistics earlier today. Over the last month, the Consumer Price Index rose 0.4% and prices in September are 3.7% higher than they were this time last year. The inflation rate in the United States has climbed 0.7% since June, but has remained at 3.7% for the months of August and October.
According to the U.S. Bureau of Labor Statistics, the Consumer Price Index has climbed 3.7% since September 2022. This indicates that inflation is growing at the same rate as it did in August. The Consumer Price Index is currently at a 3.7% increase year over year.
The Consumer Price Index tracks three major categories: Food, Energy, and All other items. Within the food sector, there are two subsections: food at home and food away from home. Over the last 12 months, food at home has grown by 2.4% and food away from home has grown by 6.0%.
In the energy sector, there has been a slowdown in the rate of increase. The Consumer Price Index for the energy sector decreased by 0.5% over the last year. Energy commodities, which include fuel oil and gasoline, saw a CPI increase of 2.2% over the last 12 months. On the other hand, energy services, which include electricity and natural gas prices, saw a -3.3% CPI decrease over the last 12 months.
Excluding the food and energy sectors, the Consumer Price Index for all other items has increased by 4.1% over the last year. The highest CPI climbers within this segment are shelter, which has increased by 7.1%, and transportation services, which has increased by 9.1%. However, the CPI of the medical services segment has decreased by -2.6% year over year.
These figures provide insights into the current state of inflation in the United States, with the Consumer Price Index showing a 3.7% increase over the last 12 months. While certain sectors, such as food and transportation services, continue to experience high inflation rates, other sectors, like energy services and medical services, have seen decreases in CPI.
