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January 12, 2023US CONSUMER PRICE INDEX, DECEMBER 2022 The United States Consumer Price Index for All Urban Consumers increased 6.5% year-over-year in December 2022. This was below the 7.1% increase reported in November 2022, and the smallest 12-month increase since the period ending October 2021.
The seasonally adjusted index declined by 0.1% in December following a 0.1% gain reported in November. The largest downward contribution came from gasoline (-9.4%) which offset the increase in the shelter index (+0.8%). The index for all items less food and energy increased 0.3% in December.
The 12-month change in the CPI - all items less food and energy was 5.7% in December 2022. Over the past 12 months, the energy index was up 7.3% with gasoline down 1.5%. The food index increased 10.4% and shelter increased 7.5% compared to December 2021.
Note:
Canada and Nova Scotia December 2022 CPI figures will be released on January 17, 2023.
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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