CPI release
CPI report: January 2023
Consumer prices rose 6.4% in the 12 months through January 2023, holding steady from 6.5% in December. Core inflation, which excludes food and energy, ran 5.6%. The CPI-U index stood at 299.17, a 0.8% change from the prior month (not seasonally adjusted).
The numbers
| Headline inflation (12-month) | 6.4% |
|---|---|
| Core inflation (12-month) | 5.6% |
| CPI-U index level | 299.17 |
| Change vs. prior month (NSA) | 0.8% |
What moved: inflation by category
Over the twelve months ending January 2023, prices rose fastest in utility (piped) gas service (26.7%), airline fares (25.6%), motor vehicle insurance (14.7%), while used cars and trucks prices fell (-11.6%).
| Category | 12-month rate | vs. prior month (NSA) |
|---|---|---|
| Utility (piped) gas service | 26.7% | 6.6% |
| Airline fares | 25.6% | -1.4% |
| Motor vehicle insurance | 14.7% | 1.5% |
| Electricity | 11.9% | 2.3% |
| Food at home | 11.3% | 0.8% |
| Food | 10.1% | 0.7% |
| Energy | 8.7% | 3.1% |
| Rent of primary residence | 8.6% | 0.7% |
| Housing | 8.2% | 1.0% |
| Food away from home | 8.2% | 0.6% |
| Shelter | 7.9% | 0.7% |
| Owners' equivalent rent | 7.8% | 0.6% |
| New vehicles | 5.8% | 0.5% |
| Core (all items less food & energy) | 5.6% | 0.6% |
| Recreation | 4.8% | 0.7% |
| Transportation | 3.8% | 0.7% |
| Medical care | 3.1% | 0.1% |
| Apparel | 3.1% | 2.6% |
| Prescription drugs | 2.6% | 2.1% |
| College tuition and fees | 2.3% | -0.1% |
| Gasoline (all types) | 1.5% | 3.2% |
| Education & communication | 1.0% | 0.3% |
| Used cars and trucks | -11.6% | -1.6% |
Recent months
| Month | CPI-U | 12-month rate |
|---|---|---|
| January 2023 | 299.17 | 6.4% |
| 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% |
Put it in context
- The current inflation rate, to check whether this is still the latest reading
- What 2022 dollars are worth in 2023, the year-over-year conversion
- 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.