January 16, 2014

Consumer price index up in December

Jan. 17, 2014 – The overall consumer price index went up 1.5 percent in December, primarily due to a rebound in energy prices, according to a new Macro Data Flash from NAFCU Research Assistant Doug Christman.

Christman analyzed data from the Bureau of Labor Statistics on CPI, core prices and energy prices, among others.

"On a year-over-year basis, core CPI held fairly steady at 1.7 percent, relatively unchanged over the previous eight months," Christman wrote. "Both CPI and core CPI remain well below the Fed's stated inflation target."

Core prices excluding food and energy costs went up 0.1 percent in December, month over month, compared with 0.2 percent in November. Energy prices, on the other hand, went up 2.1 percent after falling 1 percent the month before. Food prices went up 0.1 percent in December after going up the same amount the month before; they rose 1.1 percent on a year-over-year basis.