Here are the changes in the seasonally adjusted CPI each of the last six months:
Aug 0.1872%
Sep 0.1799%
Oct 0.2441%
See Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
from FRED (Federal Reserve Economic Data) compiled by the Research
Division at the Federal Reserve Bank of St. Louis for data on the
seasonally adjusted CPI.
That site shows a graph but if you click on the Download button you will get the actual numbers in Microsoft Excel.
The Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL) was 317.685 in Dec. and 316.441 in Nov. Since 317.685/316.441 = 1.00393, that means it was up 0.393%. If we had that every month for 12 months it would be up 4.82%.
It was 308.742 in Dec. 2023. Since 317.685/308.742 = 1.0290, that means it was up 2.90% over the last 12 months.
The non-seasonally adjusted CPI was 315.605 in Dec. and 306.746 in Dec. 2023. That was up 2.89%. So pretty close to the seasonally adjusted CPI. This is still above the Fed's target of 2.0% (although they prefer to use the Personal Consumption Expenditures Price Index which was 2.4% higher in Nov. 2024 than Nov. 2023).
The 12 month average non-seasonally adjusted CPI for all of 2023 was 304.702. For all of 2024 it was 313.689. That was up 2.95%, very close to the Dec. 2023 to Dec. 2024 change. Those two are not always the same. See the link below on the CPI since 1913.
For more information, see Core inflation rate slows to 3.2% in December, less than expected by Jeff Cox of CNBC. Excerpts:
"Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing.
The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for respective readings of 0.3% and 2.9%.
However, excluding food and energy, the core CPI annual rate was 3.2%, a notch down from the month before and slightly better than the 3.3% forecast. The core measure rose 0.2% on a monthly basis, also 0.1 percentage point less than expected."
The article also discusses what is going up and what is going on. There is a graph of the monthly year-over-year percent change in prices and core prices going back almost 3 years.
Other related links:
Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average (CPILFESL) This is also from from FRED (Federal Reserve Economic Data), compiled by the Research Division at the Federal Reserve Bank of St. Louis. It has the seasonally adjusted core CPI.
Consumer Price Index Data from 1913 to 2023
Personal Consumption Expenditures Price Index
The Bureau of Labor Statistics makes seasonal adjustments. See Consumer Price Index Summary.
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