The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
February 13, 2024US CONSUMER PRICE INDEX, JANUARY 2024 The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 3.1% year-over-year in January 2024. Compared to January 2023, prices were higher in food (+2.6%), shelter (+6.0%) and Transportation (+9.5%), and lower in energy (-4.6%). Notable other indexes increases over January 2023 were reported for motor vehicle insurance (+20.6%), recreation (+2.8%), personal care (+5.3%), and medical care (+1.1%).
The month-over-month (seasonally adjusted) change in the CPI was +0.3% in January 2024, following +0.2% in December 2023. Over the past month shelter continued to rise (+0.6%) marking the 45th consecutive month of growth. Shelter accounted for over two thirds of the monthly all-item CPI growth in January 2024. The food index increased 0.4% compared to the previous month. Energy prices declined 0.9% over December 2023 with decreases in fuel oil and gasoline offsetting gains in electricity and natural gas.
The CPI excluding food and energy rose 3.9% compared to January 2023. The CPI excluding food and energy index was up 0.4% compared to December 2023.
Note:
Canada and Nova Scotia January 2024 CPI figures will be released on February 20, 2024.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from Federal Reserve Bank of St. Louis using the FRED API.
<--- Return to Archive
