By Tom Burnett CFA
On October 13, 2021, the Bureau of Labor Statistics released its summary of consumer price inflation for the month of September. The overall increase was 0.4%, up from 0.3% in August, but down from the 0.5% increase in July. Over the last 12 months, the CPI has increased by 5.4%. The energy index rose 1.3% in the month and gasoline prices increased by 1.2%.
The Index for the Core Rate (excluding food and energy) rose 0.2% in September, after increasing 0.1% in August. Over the past 12 months, the Core Rate rose 4.0%, the same rate as the 12 months ending in August. The major item in the overall Index increase was the Energy complex which rose by 24.8% in the 12 months ended in September.
The next CPI release will be issued on November 10, 2021.
Tom Burnett CFA is Director of Research