Inflation overall is clocking in at 2.1 percent for the last 12 months, the U.S. Bureau of Labor Statistics said, with the Consumer Price Index for All Urban Consumers (CPI-U) up 0.3 percent in December on a seasonally adjusted basis.
Continuing recent trends, the shelter and gasoline indexes were largely responsible for the seasonally adjusted “all items” increase, the agency reported. The shelter index rose 0.3 percent in December, while the gasoline index increased 3.0 percent.
In food prices, the food-at-home index again declined, offsetting an increase in the index for food-away-from-home and leaving the overall food index unchanged for the sixth consecutive month.
The food-at-home index fell 0.2 percent, its eighth consecutive decrease. Four of the six major grocery store food group indexes fell in December. The fruits and vegetables index posted the largest decline, falling 1.1 percent as the index for fresh fruits declined 2.2 percent. The index for meats, poultry, fish and eggs fell 0.4 percent in December as the beef index fell 0.8 percent and the index for eggs decreased 3.9 percent. The index for nonalcoholic beverages fell 0.3 percent, and the cereals and bakery products index declined 0.1 percent.
The index for dairy and related products increased 0.4 percent in December after falling in November, and the index for other food at home rose 0.3 percent. The index for food away from home also increased, rising 0.2 percent following a 0.1 percent increase in November.
The all items index rose 2.1 percent for calendar year 2016, and the measurement has been steadily rising since July — the largest 12-month increase since the period ending June 2014. The index for all items less food and energy rose 2.2 percent for the 12 months ending December, and the energy index increased 5.4 percent — but the food index declined 0.2 percent over the last 12 months.