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CPI-U rises due to gasoline price increase

Driven largely by a 20.3 percent increase in the price of gasoline, the Consumer Price Index for All Urban Consumers (CPI-U) rose 2.5 percent nationwide from January 2016 to January 2017—the largest 12-month increase since February 2013—according to the Bureau of Labor Statistics report released Wednesday. Year-over-year regional CPI-U increases ranged from 2.6 percent in the South to 2.2 percent in the Midwest. In addition to paying 23.4 percent more for gasoline in January 2016 compared to the price a year ago, Northeast region urban consumers paid 13.5 percent more for utility (piped) gas service and 3.5 percent more for medical care, according to the BLS report.

2/17/2017 (c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email rbj@rbj.net.

 

 

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