Consumer Price Index: February Inflation By The Numbers
Written by
Angela Corry
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The Consumer Price Index has been put out by the Bureau of Labor Statistics each month since February 1921. It is a measure of the average change in the cost of goods for consumer goods and services. Indexes measure price changes in food, energy, cars, housing, travel expenses and more.
Inflation rates for February 2023 rose 0.4% month over month while dropping to 6.0% year over year. The shelter index accounted for 70% of the increase, with the indexes for food, recreation, and household furnishings andoperations also contributing.
Here is a breakdown of inflation changes for February 2023:
| INDEX | CHANGE MONTH OVER MONTH | CHANGE YEAR OVER YEAR |
|---|---|---|
| All items | 0.4 | 6 |
| Food | 0.4 | 9.5 |
| Food at home | 0.3 | 10.2 |
| Food away from home | 0.6 | 8.4 |
| Energy | -0.6 | 5.2 |
| Gasoline (all types) | 1 | -2 |
| Fuel oil | -7.9 | 9.2 |
| Electricity | 0.5 | 12.9 |
| New vehicles | 0.2 | 5.8 |
| Used cars and trucks | -2.8 | -13.6 |
| Apparel | 0.8 | 3.3 |
| Shelter | 0.8 | 8.1 |
| Medical care services | -0.7 | 2.1 |
The BLS now measures inflation using data using a one-year (2021) model instead of the two-year model it had previously been using.
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