By Tom Burnett CFA
On October 13, 2022, the Bureau of Labor Statistics released its report on the Consumer Price Index for the month of September. The Index rose 0.4%, following an increase of 0.1% in August and a flat reading in July. Over the past 12 months, the CPI has risen by 8.2%. The gasoline index declined by 4.9% in the month, but food prices rose by 0.8%.
The Core Index, excluding food and energy, rose 0.6%, an identical increase as the month of August. The Core Index increased by 6.6% in the 12 months ending September, the largest 12-month increase since August 1982. The Energy Index increased by 19.8% in the year ending in September, while food prices rose by 11.2% over the same period.
The next CPI Report will be issued on November 10, 2022.
Tom Burnett CFA is Director of Research