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February 10, 2022

The United States Consumer Price Index for All Urban Consumers increased 7.5% year-over-year in January. This was above the 7.0% increase reported in December 2021, and the largest 12-month increase since the period ending February 1982.

The seasonally adjusted monthly increase was 0.6%. The largest contributor to the monthly increase came from food, electricity, and shelter.  The energy index was up 0.9% with a higher electricity index partially offset by lower gasoline and natural gas indices. The food index increased 0.9% month-over-month while the shelter index rose 0.3%. 

The index for all items less food and energy was up 6.0% from January 2021. This was the largest 12-month increase since the period ending August 1982. Over the past 12 months, the energy index was up 27.0% and the food index increased 7.0%. 





Canada and Nova Scotia January 2022 CPI figures will be released on February 16, 2022.


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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Barbara Ruszel
Tel: 902-424-1848