by Calculated Risk on 3/12/2025 08:30:00 AM
From the BLS:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in
February, after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12
months, the all items index increased 2.8 percent before seasonal adjustment.The index for shelter rose 0.3 percent in February, accounting for nearly half of the monthly all items increase.
The shelter increase was partially offset by a 4.0-percent decrease in the index for airline fares and a 1.0-percent
decline in the index for gasoline. Despite the decrease in the gasoline index, the energy index rose 0.2 percent
over the month as the indexes for electricity and natural gas increased. The index for food also increased in
February, rising 0.2 percent as the index for food away from home increased 0.4 percent. The food at home index was
unchanged over the month.The index for all items less food and energy rose 0.2 percent in February, following a 0.4-percent increase in
January. Indexes that increased over the month include medical care, used cars and trucks, household furnishings
and operations, recreation, apparel, and personal care. The indexes for airline fares and new vehicles were among
the few major indexes that decreased in February.The all items index rose 2.8 percent for the 12 months ending February, after rising 3.0 percent over the 12 months
ending January. The all items less food and energy index rose 3.1 percent over the last 12 months. The energy index
decreased 0.2 percent for the 12 months ending February. The food index increased 2.6 percent over the last year.
emphasis added
The change in CPI was below expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.
