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BLS: CPI increased 0.4% in September; Core CPI increased 0.3%

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From the BLS:
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally
adjusted basis, after increasing 0.6 percent in August, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment.

The index for shelter was the largest contributor to the monthly all items increase, accounting for
over half of the increase. An increase in the gasoline index was also a major contributor to the all
items monthly rise. While the major energy component indexes were mixed in September, the energy
index rose 1.5 percent over the month. The food index increased 0.2 percent in September, as it did
in the previous two months. The index for food at home increased 0.1 percent over the month while the
index for food away from home rose 0.4 percent.

The index for all items less food and energy rose 0.3 percent in September, the same increase as in
August. Indexes which increased in September include rent, owners’ equivalent rent, lodging away from
home, motor vehicle insurance, recreation, personal care, and new vehicles. The indexes for used cars
and trucks and for apparel were among those that decreased over the month.

The all items index increased 3.7 percent for the 12 months ending September, the same increase as the
12 months ending in August. The all items less food and energy index rose 4.1 percent over the last
12 months. The energy index decreased 0.5 percent for the 12 months ending September, and the food
index increased 3.7 percent over the last year.

emphasis addedCPI was slightly above expectations and core CPI was at expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.

Cost of Living Adjustment increases 3.2% in 2024, Contribution Base increased to $168,600

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