By Tom Burnett CFA
On December 12, 2022, the Bureau of Labor Statistics issued its Consumer Price Index report for November. The CPI rose 0.1% in November and 7.1% over the past 12 months. The increase for October was 0.4% and the average increase over the past five months is 0.2%. The 12-month increase was the smallest since the period ending December 2021. In July, for example, the 12-month increase was 9.1%.
The Core Index, excluding food and energy, rose 0.2% in November, following an increase of 0.3% in October. The increase for the past 12 months was 6.0%. The Energy Index increased 13.1% for the 12 months ending in November while the Food Index rose 10. 6% over that period. Both of these increases were smaller than the 12-month figures for October.
The BLS press release presented annual CPI data going back to 2009. The annual increases ranged between 0.7% and 3.0% for each year from 2009 to 2020, before jumping to 7.0% for the 2021 year.
The next CPI report will be issued January 12, 2023.
Tom Burnett CFA is Director of Research