Gasoline drove over half of September's 0.6% CPI rise; energy prices up 20.4% in a year

The consumer price index rose 0.6% in September, with higher gasoline prices accounting for more than half of the increase, according to the Bureau of Labor Statistics.

The headline

On a seasonally adjusted basis the all-items index rose 0.6% in September after rising 0.4% in August. Over the last 12 months it rose 3.7% before seasonal adjustment, a larger increase than the 3.4% reported for the 12 months ended in August.

Energy

The gasoline index rose 9.1% in September. Before seasonal adjustment, gasoline prices rose 6.5%. The energy index increased 5.2% over the month after a 2.1% increase in August. Over 12 months, the energy index was up 20.4%, due in large part to a 34.2% rise in gasoline. Natural gas rose 5.0% over the year and electricity rose 4.4%. Over the month, electricity rose 0.2% and natural gas fell 0.3%.

The Energy Information Administration's weekly survey found US retail gasoline averaging $4.284 a gallon on October 19, down for a fourth week.

Core and shelter

The index for all items less food and energy rose 0.3% in September, as it did in August, and 2.6% over 12 months, following a 2.4% increase in the 12 months ended in August. The shelter index rose 0.4% in September after 0.3% in August, and was up 3.2% over the past year. BLS said indexes that increased over the month include recreation, used cars and trucks, education, airline fares, medical care and apparel. The communication index fell 0.2%.

Over the year, airline fares were up 22.4%, recreation 2.8%, medical care 1.5% and education 3.8%.

Food

The food index was unchanged in September: food away from home rose 0.2% and food at home fell 0.1%. Over 12 months the food index rose 2.5%, with food at home up 1.8% and food away from home up 3.5%.

What to watch

The BLS will publish October consumer prices on Tuesday, November 10, at 8:30 a.m. ET, according to its schedule.