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Tue Jan 14, 2020, 11:09 AM

BLS Report: CPI for all items rises 0.2% in December as gasoline, shelter, medical care indexes rise

CPI for all items rises 0.2% in December as gasoline, shelter, medical care indexes rise

Economic News Release USDL-20-0044
Consumer Price Index Summary

Transmission of material in this release is embargoed until 8:30 a.m. (EST) January 14, 2020

Technical information: (202) 691-7000 cpi_info@bls.gov www.bls.gov/cpi
Media Contact: (202) 691-5902 PressOffice@bls.gov

CONSUMER PRICE INDEX DECEMBER 2019

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in December on a seasonally adjusted basis after rising 0.3 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.

The indexes for gasoline, shelter, and medical care all rose in December, accounting for most of the increase in the seasonally adjusted all items index. The gasoline index increased 2.8 percent in December. Other major energy component indexes were mixed, and the energy index rose 1.4 percent. The food index rose 0.2 percent in December with the indexes for both food at home and food away from home increasing over the month.

The index for all items less food and energy rose 0.1 percent in December after increasing 0.2 percent in November. Along with the indexes for shelter and medical care, the indexes for apparel, motor vehicle insurance, recreation, and new vehicles all increased in December. The indexes for used cars and trucks, household furnishings and operations, and airline fares were among those to decline.

The all items index increased 2.3 percent for the 12 months ending December, the largest 12-month increase since the period ending October 2018. The index for all items less food and energy also rose 2.3 percent over the last 12 months, the same increase as the periods ending October and November. The food index rose 1.8 percent over the last 12 months, while the energy index increased 3.4 percent.

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The Consumer Price Index for January 2020 is scheduled to be released on Thursday, February 13, 2020 at 8:30 a.m. (EST).


Technical Note

Brief Explanation of the CPI

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Reply BLS Report: CPI for all items rises 0.2% in December as gasoline, shelter, medical care indexes rise (Original post)
mahatmakanejeeves Tuesday OP
progree Tuesday #1
progree Tuesday #2

Response to mahatmakanejeeves (Original post)

Tue Jan 14, 2020, 01:53 PM

1. bumpy year for inflation-adjusted earnings for production and non-supervisory workers

(80% of the private workforce)
Average hourly earnings of production and nonsupervisory employees, 1982-84 dollars, total private, seasonally adjusted

YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
2019 9.39 9.39 9.38 9.37 9.40 9.42 9.41 9.45 9.48 9.46 9.46 9.44
The last 2 months are preliminary. The December figure is as a result of today's CPI report, and last Friday's nominal earnings report

https://data.bls.gov/timeseries/CES0500000032
Down over last 3 months

In nominal dollars (not inflation adjusted), i.e. current dollars, i.e. "greenbacks"
https://data.bls.gov/timeseries/CES0500000008

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Response to mahatmakanejeeves (Original post)

Tue Jan 14, 2020, 08:06 PM

2. Health care costs up 4.6% in 2019, compared to overall CPI of +2.3%

Reuters https://finance.yahoo.com/news/u-consumer-prices-rise-slightly-133624072.html
Healthcare costs jumped 0.6% in December after rising 0.3% in the prior month. They were boosted by a 2.1% acceleration in prices for prescription medication. Consumers also paid more for hospital services and doctor visits.

Healthcare costs surged 4.6% in 2019, the largest gain since 2007 and up compared to 2.0% in 2018.

"It may be too early to conclude this, but it is beginning to look like the current laissez-faire approach to health care is allowing providers to ramp up prices," said Naroff.

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