Consumer Price Index: December Inflation By The Numbers

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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.

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Inflation rates for December 2022 came down 0.1%, dropping to 6.5% year over year. The energy prices dropping was the primary reason for the decline, while food, shelter and clothing prices continued to increase.

Here is a breakdown of inflation changes for December 2022:

IndexChange Month Over MonthChange Year Over Year
All items-0.16.5
Food at home0.211.8
Food away from home(1)0.48.3
Gasoline (all types)-9.4-1.5
Fuel oil(1)-16.641.5
New vehicles-0.15.9
Used cars and trucks-2.5-8.8
Medical care services0.14.1
Data from BLS
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Starting in January 2023 the BLS will change how it measures inflation using data from one year (2021) instead of the two-year model it has been using. The first report using this methodology will drop released on February 14.

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