U.S. Dept. of Labor Reports Slight Uptick in Consumer Price Index for January 2010

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(WASHINGTON, DC) -- According the U.S. Department of Labor, on a seasonally adjusted basis, the January Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index increased 2.6 percent before seasonal adjustment.

The seasonally adjusted increase in the all items index was due to a rise in the energy index. An increase in the gasoline index was the main factor, and the indexes for fuel oil and natural gas rose as well, though the electricity index declined.

The index for all items less food and energy fell 0.1 percent in January. This decline was largely the result of decreases in the indexes for shelter, new vehicles, and airline fares. In contrast, the medical care index posted its largest increase since January 2008, and the index for used cars and trucks increased significantly for the sixth month in a row.

The food index increased in January, with the food at home component posting its largest increase since September 2008. Sharp increases in the indexes for dairy and related products and for fruits and vegetables accounted for most of the increase.

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