CPI release
CPI report: December 2022
Consumer prices rose 6.5% in the 12 months through December 2022, down from 7.1% in November. Core inflation, which excludes food and energy, ran 5.7%. The CPI-U index stood at 296.797, a -0.3% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 6.5% |
|---|---|
| Core inflation (12-month) | 5.7% |
| CPI-U index level | 296.797 |
| Change vs. prior month (NSA) | -0.3% |
What moved: inflation by category
Over the twelve months ending December 2022, prices rose fastest in airline fares (28.5%), utility (piped) gas service (19.3%), electricity (14.3%), while used cars and trucks prices fell (-8.8%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Airline fares | 28.5% | -8.2% |
| Utility (piped) gas service | 19.3% | 3.4% |
| Electricity | 14.3% | 0.7% |
| Motor vehicle insurance | 14.2% | 0.7% |
| Food at home | 11.8% | 0.3% |
| Food | 10.4% | 0.3% |
| Rent of primary residence | 8.3% | 0.8% |
| Food away from home | 8.3% | 0.4% |
| Housing | 8.1% | 0.6% |
| Owners' equivalent rent | 7.5% | 0.8% |
| Shelter | 7.5% | 0.7% |
| Energy | 7.3% | -6.1% |
| New vehicles | 5.9% | 0.1% |
| Core (all items less food & energy) | 5.7% | 0.2% |
| Recreation | 5.1% | 0.2% |
| Medical care | 4.0% | 0.0% |
| Transportation | 3.9% | -3.3% |
| Apparel | 2.9% | -1.7% |
| College tuition and fees | 2.3% | 0.1% |
| Prescription drugs | 1.8% | 0.1% |
| Education & communication | 0.7% | 0.0% |
| Gasoline (all types) | -1.5% | -12.5% |
| Used cars and trucks | -8.8% | -2.4% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| December 2022 | 296.797 | 6.5% |
| November 2022 | 297.711 | 7.1% |
| October 2022 | 298.012 | 7.7% |
| September 2022 | 296.808 | 8.2% |
| August 2022 | 296.171 | 8.3% |
| July 2022 | 296.276 | 8.5% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2021 dollars are worth in 2022, the year-over-year conversion
- Inflation in 2022, the full year in review
- How the BLS turns 80,000 prices into this number
- How to read a CPI report, headline vs. core and what moves after release day
Source: U.S. Bureau of Labor Statistics, CPI-U, not seasonally adjusted (official CPI news releases). Category series are listed on the data sources page. See the methodology.