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March 10, 2022US CONSUMER PRICE INDEX, FEBRUARY 2022 The United States Consumer Price Index for All Urban Consumers increased 7.9% year-over-year in February. This was above the 7.5% increase reported in January 2021, and the largest 12-month increase since the period ending January 1982.
The seasonally adjusted monthly increase was 0.8%, accelerating from the 0.6% rise last month. The largest contributor to the monthly increase was from the gasoline index (+6.6%) that accounted for nearly a third of the monthly increase. Shelter (+0.5%) and food at home (+1.4%) were also large contributors to the monthly increase.
The 12-month change in the CPI - all items less food and energy accelerated to a 6.4% increase in February 2022. This was the largest 12-month increase since the period ending August 1982. Over the past 12 months, the energy index was up 25.6% with gasoline up 38.0%. The food index increased 7.9% compared to February 2021.
Note:
Canada and Nova Scotia February 2022 CPI figures will be released on March 16, 2022.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis
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