September 13, 2022US CONSUMER PRICE INDEX, AUGUST 2022 The United States Consumer Price Index for All Urban Consumers increased 8.3% year-over-year in August. This was below the 8.5% increase reported in July 2022.
The seasonally adjusted index increased by 0.1% in August after no change in July. There were many contributors that contributed to the increase, among those were shelter, food and medical care. Energy index decreased with gasoline falling by 10.6% while the electricity and natural gas indexes increased. Index for all items less food and energy rose 0.6% in August.
The 12-month change in the CPI - all items less food and energy was 6.3% in August, an increase from 5.9% in July. Over the past 12 months, the energy index is up 23.8% with gasoline up 25.6%. The food index increased 11.4% compared to August 2021, the largest 12-month increase since May 1979.
Note:
Canada and Nova Scotia August 2022 CPI figures will be released on September 20, 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