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Economy

Economic Data (USA)

Wednesday, March 11, 2020

Consumer Price Index (CPI) for February 2020

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for February 2020:

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Predicted: +0.1%
Actual: +0.1%

  • Change From 12 Months Previous: +2.3%

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Below is the CPI when food and energy are removed, also known as core CPI:

Predicted: +0.2%
Actual: +0.2%

  • Change From 12 Months Previous: +2.4%

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The above, yellow-highlighted figures represent the seasonally adjusted, month-to-month change in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

  • Healthcare
  • Housing
  • Clothing
  • Communications
  • Education
  • Transportation
  • Food and Beverages
  • Recreation
  • Miscellaneous Goods and Services (grooming expenses, etc.)

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From Today's Report:

"...Increases in the indexes for shelter and for food were the main causes of the increase in the seasonally adjusted all items index, more than offsetting a decline in the energy index. The food index increased 0.4 percent over the month, with the food at home index rising 0.5 percent, its largest monthly increase since May 2014. The index for energy fell 2.0 percent in February, with all of its major component indexes declining.

The index for all items less food and energy rose 0.2 percent in February, the same increase as in January. Along with the index for shelter, the indexes for apparel, personal care, used cars and trucks, education, and medical care were among those that increased in February. The indexes for recreation and airline fares declined over the month..."

 
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Chart: Consumer Price Index (CPI) - February 2020 Update
Chart: Consumer Price Index (CPI) - February 2020 Update

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