Golden Ten Data Exclusive: Full Text of the US September CPI Report

According to data released today by the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) in September rose by 0.3% on a seasonally adjusted basis, lower than August’s 0.4%. On an unadjusted basis, the overall CPI increased by 3.0% over the past 12 months. It should be noted that the September CPI data was collected before the government funding interruption.

The gasoline price index rose by 4.1% in September, serving as the main driver of the overall price increase for the month, while the energy price index rose by 1.5%. The food price index increased by 0.2% in September, with food at home up 0.3% and food away from home up 0.1%.

Excluding food and energy, the core CPI rose by 0.2% in September, lower than the 0.3% seen in the previous two months. Categories that increased during the month included shelter, airline fares, recreation, household furnishings and operations, and apparel. Categories that declined included motor vehicle insurance, used cars and trucks, and communication.

Over the past 12 months ending in September, the overall CPI rose by 3.0%, higher than the 2.9% as of August. The core CPI, excluding food and energy, rose by 3.0% year-over-year. The energy index increased by 2.8% year-over-year, and the food index rose by 3.1% year-over-year.

In terms of food, food prices rose by 0.2% in September, lower than August’s 0.5%. Food at home increased by 0.3%, with prices rising in four out of six major food categories. Among them, the “other food at home” index rose by 0.5%, cereals and bakery products and nonalcoholic beverages both increased by 0.7%, and meats, poultry, fish, and eggs rose by 0.3%. The dairy and related products index fell by 0.5%, with cheese and related products down by 0.7%; the fruits and vegetables index remained unchanged. The food away from home index rose by 0.1%, with limited-service meals up 0.2% and full-service restaurants unchanged.

On an annual basis, food at home prices rose by 2.7% year-over-year, unchanged from the previous month. Meats, poultry, fish, and eggs prices rose by 5.2% year-over-year, nonalcoholic beverages increased by 5.3%, “other food at home” rose by 1.9%, cereals and bakery products increased by 1.6%, fruits and vegetables rose by 1.3%, and dairy products rose by 0.7%. The food away from home index rose by 3.7% year-over-year, with full-service restaurants up 4.2% and limited-service meals up 3.2%.

In terms of energy, the energy index rose by 1.5% in September, higher than August’s 0.7%. The gasoline index increased by 4.1% (unadjusted gasoline prices rose by 1.1%), the electricity index fell by 0.5%, and the natural gas index fell by 1.2%. Over the past 12 months, the energy index rose by 2.8%, with electricity up 5.1%, natural gas up 11.7%, and gasoline down 0.5%.

For core CPI excluding food and energy, it rose by 0.2% in September, lower than the previous two months’ 0.3%. The shelter index rose by 0.2%, with owners’ equivalent rent up 0.1%, marking the smallest monthly increase since January 2021. The rent index rose by 0.2%, and lodging away from home increased by 1.3%.

The airline fares index rose by 2.7%, lower than August’s 5.9%; the recreation index and household furnishings and operations index both rose by 0.4%; apparel increased by 0.7%, personal care rose by 0.4%, and new vehicles increased by 0.2%. The motor vehicle insurance index fell by 0.4%, used cars and trucks fell by 0.4%, and communication fell by 0.2%.

The medical care index rose by 0.2%, after falling by 0.2% in August; hospital services and prescription drugs both rose by 0.3%; dental services fell by 0.6%, and physician services fell by 0.1%.

The core CPI rose by 3.0% over the past 12 months. The shelter index increased by 3.6% year-over-year, medical care rose by 3.3%, household furnishings and operations rose by 4.1%, recreation rose by 3.0%, and used cars and trucks rose by 5.1%.

Unadjusted data shows that the Consumer Price Index for All Urban Consumers (CPI-U) rose by 3.0% over the past 12 months, with the index level reaching 324.800 (1982-84=100), and a 0.3% increase for the month.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose by 2.9% year-over-year, with the index at 318.139, and a 0.3% increase for the month. The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) rose by 2.9% year-over-year, with an unadjusted monthly increase of 0.3%. It should be noted that data for the past 10 to 12 months may be revised.