Higher home prices drive CPI
November 15, 2012
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.0% in October from September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics said. The unadjusted index was virtually flat month to month. Over the last 12 months, the all-items index increased 2.2% before seasonal adjustment.
The shelter index increased 0.3% — the largest since March 2008 — and accounted for more than half of the seasonally adjusted all-items increase. The index for all items less food and energy rose 0.2%. Increases in the indexes for shelter, apparel and airline fares more than offset decreases in the indexes for used cars and trucks, new vehicles and recreation.
The food index increased 0.2%, and the energy index declined slightly as declines in the indexes for gasoline and natural gas more than offset increases in the indexes for electricity and fuel oil.
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