Tuesday, September 17, 2013

CPI increases 0.1% in August, Core CPI 0.1%

by Calculated Risk on 9/17/2013 08:30:00 AM

From the Bureau of Labor Statistics (BLS): Consumer Price Index - June 2013

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in August on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.5 percent before seasonal adjustment.
...
The index for all items less food and energy increased 0.1 percent in August after increasing 0.2 percent in each of the three previous months. ... The index for all items less food and energy increased 1.8 percent for the 12 months ending August.
emphasis added
On a year-over-year basis, CPI is up 1.5 percent, and core CPI is up also up 1.8 percent.  Both are below the Fed's target. This was close to the consensus forecast of a 0.2% increase for CPI, and a 0.1% increase in core CPI.

Note: CPI-W (used for cost of living adjustment, COLA) is also up 1.5% year-over-year in August.  The COLA is calculated using the average Q3 data (July, August, and September).
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.5 percent over the last 12 months to an index level of 230.359 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.
I'll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.