The consumer price index increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.5 percent before seasonal adjustment.
The overall index rose to 2.5 percent in January from 2.1 percent in December.
A major uptick came from the energy index, rising 4 percent, with energy commodities and gasoline both noting close to 8 percent increases. A nationwide average of $2.30 for a gallon of gasoline, up from under $2 last spring, has pinched U.S. households, as reported by Marketwatch.
The food index rose 0.1 percent in January, its first increase since April 2016. The index for food away from home rose 0.4 percent, its largest increase since September 2015. The food at home index was unchanged in January after declining in recent months.
Tenants' and household insurance dipped 0.1 percent, down from December's increase of 0.0 percent; repair of household items rose 4.9 percent, down from December's increase of 5 percent.
The consumer price index for Auto insurance rose 7.5 percent in April, which was up from December's increase of 7 percent. Tenants’ and household insurance dipped 0.1 percent in January, which was down from March’s increase of 1.5 percent.