Inflation: All Items Index Increased 8.2% Over the Last 12 Months

MARY CHASTAIN OCT 13, 2022 9:00 AM

***Adding information as I go through the report.

The Consumer Price Index (CPI) rose 0.4% in September from August. The all items index rose 8.2% over the last 12 months.

The all items without energy and food went up 6.6% in the past 12 months, 0.4% from August to September.

How will President Joe Biden explain the September CPI?

I guess the administration will overlook the 12-month numbers because everything went up. Biden will likely concentrate on the energy numbers, which continued to decrease in September from August:

• Energy overall: -2.1%
• Energy commodities overall: -4.7%
• Gasoline: -4.9%
• Fuel oil: -2.7%

Everything else is bad news for America and Biden. I’m not going to use sob stories or analysis from experts. I’m going to give you the numbers because they speak for themselves. It’s something all of us feel every day.

The food at home index from August to September increased by 0.7%. Over the past 12 months? 13%!

• Cereal and bakery products: 16.2%
• Meats, poultry, fish, and eggs: 9%
• Dairy and related products: 15.9%
• Fruits and veggies: 10.4%

The following numbers are all over the past 12 months.

How about another breakdown? The holidays are coming up! Let’s look at some of the essentials we need as we start the baking season.

• Flour and prepared flour mixes: 24.2%
• Eggs: 30.5% (actually decreased 3.5% from August to September!)
• Milk: 15.2%
• Other uncooked poultry including turkey: 17%
• Potatoes: 17.5%
• Sugar and sugar substitutes: 17.1%
• Butter: 26.6%
• Margarine: 44%
• Spices, seasonings, condiments, sauces: 13.8%

Food away from home increased by 8.5%, especially food at work and schools.

• Full service meals and snacks: 8.8%
• Limited service meals and snacks: 7.1%
• Food at employee sites and schools: 91.4%
• Food from vending machines and mobile vendors: 7.2%
• Other food away from home: 5.4%

While the energy prices went down from August to September, it increased over the past 12 months:

• Energy overall: 19.8%
• Energy commodities: 19.7%
• Fuel oil and other fuels: 39.9%
• Fuel oil: 58.1%
• Propane, kerosene, and firewood: 12.8%
• Motor fuel: 18.8%
• Gasoline (all types): 18.2%
• Gasoline, unleaded regular: 18%
• Gasoline, unleaded midgrade: 18.3%
• Gasoline, unleaded premium: 19.4%
• Other motor fuels: 49%
• Energy services: 19.8%
• Electricity: 15.5%
• Utility (piped) gas service: 33.1%

Services less energy services went up 6.7%. This includes housing costs:

• Shelter: 6.6%
• Rent of shelter: 6.7%
• Rent of primary residence: 7.2%
• Lodging away from home: 2.9%
• Housing at school, excluding board: 2.6%
• Other lodging away from home including hotels and motels: 3.1%
• Owners’ equivalent rent of residences: 6.7%

Numbers in other sectors that stuck out to me:

• Health insurance: 28.2%
• Public transportation: 27.1%
• Airline fares: 42.9%
• Delivery services: 16.4%

The CPI report also breaks down the numbers by region. The South and the West felt the largest percentage change over the last 12 months, especially the Tampa area (10.5%) and Dallas area (9.2%).

Perspective:

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