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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

March 14, 2023

The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 6.0% year-over-year in February 2023. This was below the 6.4% increase reported in January 2023, the smallest increase since the period ending October 2021. 

The seasonally adjusted index increased by 0.4% in February following a 0.5% gain reported in January. Gasoline was the largest contributor to the increase. The food index (+0.4%) and shelter index (+0.8%) also contributed to the monthly increase, while index for energy decreased (-0.6%) during this period. The index for all items less food and energy was up 0.5% in February.

The 12-month (seasonally adjusted) change in the CPI - all items less food and energy was 5.5% in February 2023, down from 5.6% in January 2023. Over the past 12 months, the energy index increased 5.0%, the food index increased 9.5% and the shelter index increased 8.1%. Gasoline index decreased 2.0%



Canada and Nova Scotia February 2023 CPI figures will be released on March 21, 2023.


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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