December CPI Data Today: Here Is What To Know

Articles From: StockMarket.com
Website: StockMarket.com

Here’s the latest on December 2022 CPI data.

Today, Thursday, January 12, 2023, the U.S. Bureau of Labor Statistics released its latest report on the Consumer Price Index (CPI) for All Urban Consumers. If you’re unaware, the report provides insight into the changes in prices of goods and services that Americans purchase on a regular basis.

This report is a key indicator of inflation and can have a significant impact on financial markets and interest rates. In this article, we will take a closer look at the December 2022 numbers. As well as analyze the overall trend in prices over the past year.

Consumer Price Index (CPI) Report & CPI Data For December 2022

The Consumer Price Index (CPI) for All Urban Consumers in the United States saw a decrease of 0.1% in December, on a seasonally adjusted basis, according to a report by the U.S. Bureau of Labor Statistics. This follows a 0.1% increase in November.

The decrease in the CPI can be largely attributed to a significant drop in the price of gasoline. Which more than offset increases in other areas such as shelter. The food index also saw a small increase of 0.3% for the month, with the food-at-home index rising by 0.2%. Meanwhile, the energy index saw a decrease of 4.5% for the month, with the gasoline index leading the decline.

However, not all areas saw a decrease in prices. The index for all items less food and energy, which excludes the cost of food and energy from the calculation, saw an increase of 0.3% in December. This comes following a 0.2% increase in November. Other areas that saw an increase in prices included shelter, household furnishings and operations, motor vehicle insurance, recreation, and apparel. On the other hand, the indexes for used cars and trucks, and airline fares saw a decrease in prices over the month.

Looking at the past 12 months, the all-items index saw an overall increase of 6.5%. This is the smallest 12-month increase since the period ending October 2021. The all items less food and energy index saw an increase of 5.7% over the last 12 months. The energy index increased by 7.3% and the food index increased by 10.4% over the last year. However, these increases are smaller compared to the 12-month period ending November 2021.

In Summary

In conclusion, while the Consumer Price Index saw a decrease in December 2021, it is important to note that prices have still increased significantly over the past year. Factors such as a drop in gasoline prices and a small increase in food prices have contributed to the overall trend.

Originally Posted January 12, 2023 – December CPI Data Today: Here Is What To Know

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from StockMarket.com and is being posted with its permission. The views expressed in this material are solely those of the author and/or StockMarket.com and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.