United States Inflation November 2022


US CPI Inflation Rate.

Annual Inflation Rate in United States.

7.1% November 2022
7.7% October 2022

However, according to official figures at www.bls.gov, some things rose much higher.

These included:

  • 15.5% Gas utilities.
  • 14.2% Transportation services.
  • 13.7% Electricity.
  • 12.0% Food at Home.
  • 10.1% Gasoline (Motor)

Food

The food index increased 0.5 percent in November following a 0.6-percent increase in October. The food at home index also rose 0.5 percent in November. Four of the six major grocery store food group indexes increased over the month. The index for fruits and vegetables increased 1.4 percent in November, after falling 0.9 percent in October. The index for cereals and bakery products rose 1.1 percent over the month while the index for dairy and related products increased 1.0 percent in November. The index for non alcoholic beverages rose 0.7 percent in November, after rising 0.5 percent
last month.

In contrast, the index for meats, poultry, fish, and eggs fell 0.2 percent over the month after increasing 0.6 percent in October. The beef index fell 0.8 percent over the month, while the pork index fell 0.3 percent. The index for other food at home also declined in November, falling 0.1 percent.

The food away from home index rose 0.5 percent in November, after increasing 0.9 percent in each of the previous 3 months. The index for limited service meals increased 0.6 percent over the month and the index for full service meals increased 0.4 percent.

The food at home index rose 12.0 percent over the last 12 months. The index for cereals and bakery products and the index for dairy and related products both rose 16.4 percent over the year. The remaining major grocery store food groups posted increases ranging from 6.8 percent (meats, poultry, fish, and eggs) to 13.9 percent (other food at home).

The index for food away from home rose 8.5 percent over the last year. The index for full service meals rose 9.0 percent over the last 12 months, and the index for limited service meals rose 6.7 percent over the same period.

Energy

The energy index fell 1.6 percent in November after rising 1.8 percent in October. The gasoline index declined 2.0 percent over the month, following a 4.0-percent increase in October. (Before seasonal adjustment, gasoline prices fell 3.6 percent in November.) The index for natural gas continued to decline over the month, falling 3.5 percent after decreasing 4.6 percent in October. The electricity index decreased 0.2 percent in November.

The energy index rose 13.1 percent over the past 12 months. The gasoline index increased 10.1 percent over the span and the fuel oil index rose 65.7 percent. The index for electricity rose 13.7 percent over the last 12 months, and the index for natural gas increased 15.5 percent over the same period.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in November, its smallest increase since August 2021. The shelter index continued to increase, rising 0.6 percent over the month. The rent index rose 0.8 percent over the month, and the owners’ equivalent rent index rose 0.7 percent. The index for lodging away from home decreased 0.7 percent in November, after rising 4.9 percent in October.

The shelter index was the dominant factor in the monthly increase in the index for all items less food and energy; other components were a mix of increases and declines.

Among the indexes that rose in November was the index for communication which increased 1.0 percent over the month after decreasing 0.1 percent in October. The index for recreation rose 0.5 percent in November, following a 0.7-percent increase in the previous month.

The motor vehicle insurance index increased 0.9 percent in November, the personal care index rose 0.7 percent, and the education index rose 0.3 percent over the month.

In contrast, the medical care index fell 0.5 percent in November, as it did in October. The index for hospital and related services decreased 0.3 percent over the month, and the index for prescription drugs declined 0.2 percent. The index for physicians’ services was unchanged in November.

Other indexes which declined over the month include the index for used cars and trucks, which fell 2.9 percent in November, the fifth consecutive decline in that index. The index for airline fares fell 3.0 percent over the month, following a 1.1-percent decrease in October.

The index for household furnishings and operations was unchanged in November, as was the index for new vehicles.

The index for all items less food and energy rose 6.0 percent over the past 12 months. The shelter index increased 7.1 percent over the last year, accounting for nearly half of the total increase in all items less food and energy. Other indexes with notable increases over the last year include household furnishings and operations (+7.6 percent), medical care (+4.2 percent), new vehicles (+7.2 percent), and recreation (+4.7 percent).

Not seasonally adjusted CPI measures.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 7.1 percent over the last 12 months to an index level of 297.711 (1982-84=100). For the month, the index decreased 0.1 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 7.1 percent over the last 12 months to an index level of 292.495 (1982-84=100). For the month, the index decreased 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 6.9 percent over the last 12 months. For the month, the index decreased 0.1 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.
_______________
The Consumer Price Index for December 2022 is scheduled to be released on Thursday, January 12, 2023, at 8:30 a.m. (ET).


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