Consumer Price Index: February Inflation By The Numbers
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.
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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 and
operations 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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