The Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
increased 0.4 percent in November on a not seasonally adjusted basis. The November level of 121.178 (December 1999=100) was 3.6 percent higher than in November 2006. Please note that the indexes for the post-2005 period are subject to revision.
CPI for All Urban Consumers (CPI-U)
On a seasonally adjusted basis, the CPI-U increased 0.8 percent in November, its largest advance since a 1.2 percent rise in September 2005. The index for energy advanced 5.7 percent and accounted for nearly 70 percent of the overall CPI increase in November. The index for petroleum- based energy rose 9.5 percent and the index for energy services, 0.7 percent. The food index rose 0.3 percent in November. The indexes for food at home and for food away from home each increased 0.3 percent. The index for all items less food and energy advanced 0.3 percent in November, following increases of 0.2 percent in each of the preceding five months. In November, the index for shelter rose 0.3 percent after increasing 0.1 percent in October and the apparel index increased 0.8 percent.
During the first eleven months of 2007, the CPI-U rose at a 4.2 percent seasonally adjusted annual rate (SAAR). This compares with an increase of 2.5 percent for all of 2006. The index for energy, which increased 2.9 percent in 2006, advanced at an 18.1 percent SAAR in the first 11 months of 2007. Petroleum-based energy costs increased at a 30.8 percent annual rate and charges for energy services rose at a 3.2 percent annual rate. The food index has increased at a 5.3 percent rate thus far in 2007, following a 2.1 percent rise for all of 2006. Excluding food and energy, the CPI-U advanced at a 2.4 percent SAAR in the first 11 months of 2007 after increasing 2.6 percent in 2006.
The food and beverages index rose 0.3 percent in November. The index for food at home increased 0.3 percent in November, the same as in October. Larger increases in the indexes for fruit and vegetables, for cereal and bakery products, and for dairy products were offset by downturns in the indexes for meats, poultry, fish, and eggs, for nonalcoholic beverages, and for other food at home. The index for fruits and vegetables increased 1.6 percent in November, following a 0.7 percent increase in October. The indexes for fresh vegetables and for fresh fruits each increased 2.3 percent, while the index for processed fruits and vegetables declined 0.9 percent. The index for dairy products increased 0.6 percent in November and has advanced 14.0 percent in the last 12 months. Fresh milk prices, which declined 0.6 percent in October, turned back up in November, increasing 1.2 percent. Since the beginning of the year fresh milk prices have risen 23.2 percent. The index for cereal and bakery products increased 0.7 percent in November. The index for meats, poultry, fish, and eggs decreased 0.1 percent in November, reflecting declines in the indexes for eggs, poultry, pork, and fish and seafood. Beef prices increased 0.6 percent. The indexes for nonalcoholic beverages and for other food at home declined 0.5 and 0.2 percent, respectively. The other two components of the food and beverages index- food away from home and alcoholic beverages-increased 0.3 and declined 0.1 percent, respectively.
The index for housing increased 0.4 percent in November, following a 0.2 percent rise in October. Each of the three major housing groups contributed to the larger advance. The index for shelter, which rose 0.1 percent in October, increased 0.3 percent in November. Within shelter, the indexes for rent and for owners' equivalent rent increased 0.4 and 0.3 percent, respectively, while the index for lodging away from home decreased 0.2 percent. The index for fuels and utilities, which rose 1.2 percent in October, increased 1.5 percent in November. The index for fuel oil increased 14.2 percent, its largest monthly advance since a 14.7 percent increase in February 2003. The indexes for natural gas and for electricity rose 0.9 and 0.6 percent, respectively in November. (Prior to seasonal adjustment, charges for electricity declined 2.2 percent, reflecting the switch to winter rates in some areas.). The index for household furnishings and operations, which had declined in each of the preceding four months, rose 0.1 percent in November.
The transportation index increased 2.9 percent in November. The index for motor fuel rose 9.3 percent, accounting for over 90 percent of the overall transportation increase. (Prior to seasonal adjustment, gasoline prices rose 9.7 percent to a level that was 1.5 percent lower than their peak level recorded in May.) The index for new vehicles increased 0.1 percent in November. (As of November, about 53 percent of the new car sample consisted of 2008 models. The 2008 models will continue to be phased in, with adjustments for quality change, over the next several months as they replace old models at dealerships. For a report on quality changes for the 2008 vehicles represented in the Producer Price Index sample, see news release USDL-07-1787 dated November 14, 2007.) The index for used cars and trucks declined 0.2 percent. During the last 12 months, new vehicle prices have declined 0.4 percent and prices for used cars and trucks, 0.5 percent. The index for public transportation increased 1.8 percent in November, largely reflecting a 2.6 percent increase in the index for airline fares.
The index for apparel, which was virtually unchanged in October, increased 0.8 percent in November. (Prior to seasonal adjustment, apparel prices declined 0.5 percent in November, reflecting seasonal discounting of women's clothing.)
Medical care costs rose 0.4 percent in November to a level 5.0 percent above a year ago. The index for medical care commodities- prescription drugs, nonprescription drugs, and medical supplies-rose 0.6 percent. The index for medical care services rose 0.3 percent. The indexes for professional services and for hospital and related services advanced 0.2 and 0.6 percent, respectively. The index for hospital and related services has increased 7.9 percent during the last 12 months.
The index for recreation rose 0.1 percent in November. Increases in the indexes for admissions to movies, theaters, concerts and sporting events, for club membership dues and for fees for participant sports-each up 0.6 percent-more than offset declines in the indexes for video and audio, for photography, and for toys.
The index for education and communication increased 0.1 percent in November. The index for education rose 0.6 percent, while the index for communication declined 0.5 percent. Within the latter group, the index for telephone services declined 0.3 percent, reflecting decreases in the indexes for both land-line local charges and long distance charges. The index for personal computers and peripheral equipment declined 4.1 percent and the index for internet services and electronic information providers decreased 0.2 percent.
The index for other goods and services increased 0.3 percent in November. The two major sub-indexes -tobacco and smoking products and personal care--rose 0.2 and 0.3 percent, respectively. Within the latter group, the index for financial services rose 0.5 percent, reflecting a 0.9 percent increase in the index for tax return preparation and other accounting fees.
CPI for Urban Wage Earners and Clerical Workers (CPI-W)
On a seasonally adjusted basis, the CPI for Urban Wage Earners and Clerical Workers increased 0.9 percent in November.
