- cross-posted to:
- economics@lemmy.ml
- finance
- finance
- finance
- cross-posted to:
- economics@lemmy.ml
- finance
- finance
- finance
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.2 percent before seasonal adjustment.
Increases in the shelter, food, and medical care indexes were the largest of many contributors to the monthly seasonally adjusted all items increase. These increases were partly offset by a 4.9-percent decline in the gasoline index. The food index continued to rise, increasing 0.8 percent over the month as the food at home index rose 0.7 percent. The energy index fell 2.1 percent over the month as the gasoline index declined, but the natural gas and electricity indexes increased.
Also check out this handy chart
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-average-price-data.htm
Core Consumer Price Index still shows no improvement at all since the federal reserve started hiking interest rates. 0.57% month over month vs 0.56% in December. They want it at about 0.165%. Interest rates don't do anything. Some of the MMT people actually think raising rates will increase inflation as higher borrowing costs get passed to consumers.