Inflation Up, But Nowhere Near 2.0%

The Consumer Price Index increased in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.

  • The CPI for All Urban Consumers was up 30 basis points.  This was the largest increase since August when the CPI was up 0.4%
  • Over the last 12 months, the all items index increased 1.4%before seasonal adjustment.

The biggest jump was the gasoline index which accounted for most of the increase in the all items index rising 7.4%in January alone.

  • The only other big jump was in Apparel which saw a 2.2% jump in January

The biggest drop was the used car and truck index which fell 0.9% in January.

  • New vehicles were also down with a 50 basis points drop