The U.S. Bureau of Labor Statistics released its monthly Consumer Price Index Summary October 10, 2024:
CONSUMER PRICE INDEX – SEPTEMBER 2024
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, the same increase as in August and July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.4 percent before seasonal adjustment.
The index for shelter rose 0.2 percent in September, and the index for food increased 0.4 percent. Together, these two indexes contributed over 75 percent of the monthly all items increase. The food at home index increased 0.4 percent in September and the food away from home index rose 0.3 percent over the month. The energy index fell 1.9 percent over the month, after declining 0.8 percent the preceding month.
The index for all items less food and energy rose 0.3 percent in September, as it did the preceding month. Indexes which increased in September include shelter, motor vehicle insurance, medical care, apparel, and airline fares. The indexes for recreation and communication were among those that decreased over the month.
The all items index rose 2.4 percent for the 12 months ending September, the smallest 12-month increase since February 2021. The all items less food and energy index rose 3.3 percent over the last 12 months. The energy index decreased 6.8 percent for the 12 months ending September. The food index increased 2.3 percent over the last year.
Food
The food index increased 0.4 percent in September, after rising 0.1 percent in August. The index for food at home also rose 0.4 percent in September. Five of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs rose 0.8 percent in September as the index for eggs increased 8.4 percent. The fruits and vegetables index increased 0.9 percent over the month, following a 0.2-percent decline in August. The index for other food at home rose 0.2 percent in September and the index for cereals and bakery products increased 0.3 percent. The dairy and related products index increased 0.1 percent over the month, while the nonalcoholic beverages index was unchanged in September.
The food away from home index rose 0.3 percent in September, as it did in August. The index for full service meals rose 0.4 percent and the index for limited service meals increased 0.2 percent over the month.
The index for food at home rose 1.3 percent over the last 12 months. The meats, poultry, fish, and eggs index rose 3.9 percent over the last 12 months and the nonalcoholic beverages index increased 1.3 percent. Over the same period, the index for fruits and vegetables rose 0.7 percent and the index for other food at home increased 0.4 percent. The dairy and related products index increased 0.5 percent in September, and the cereals and bakery products index increased 0.1 percent over the year.
The food away from home index rose 3.9 percent over the last year. The index for limited service meals increased 4.1 percent over the last 12 months and the index for full service meals rose 3.9 percent over the same period.
Fruits & Vegetables
The fruit and vegetable index rose 0.9 from August to September and 0.7 percent from September 2023 to 2024 after falling the previous month. Fresh produce price grew 1.2 percent month over month and 0.9 percent year over year in September. Fresh fruit rose 2.2 month over month and 1.6 percent year over year. In fresh vegetables, the index was flat month over month and grew just 0.2 percent year over year.
Contact Information
For additional information about the CPI visit www.bls.gov/cpi or contact the CPI Information and Analysis Section at 202-691-7000 or cpi_info@bls.gov.
For additional information on seasonal adjustment in the CPI visit www.bls.gov/cpi/seasonal-adjustment/home.htm
