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Saturday, January 23, 2021 10:37:01 PM EST



CPI
Briefing.com Updated 13-Jan-21 01:48PM ET

Total CPI increased 0.4% m/m in December (Briefing.com consensus 0.4%) while core CPI increased 0.1% m/m (Briefing.com consensus 0.1%).

The uptick in total CPI was driven largely by an 8.4% increase in the gasoline index, which accounted for more than 60% of the overall increase.

The food and food away from home indexes both jumped 0.4%.

The energy index was up 4.0%.

The shelter index rose 0.1%.

The apparel index increased 1.4%, yet the indexes for used cars and trucks, transportation services, and medical care services declined 1.2%, 0.1%, and 0.1%, respectively.

The key takeaway from the report is that it won't trigger inflation alarm bells in an aggregate sense. Total CPI is up just 1.4% yr/yr, versus 1.2% in November, while core CPI held steady at 1.2% yr/yr for the third straight month. The latter views notwithstanding, inflation worries -- both real and imagined -- promise to be a pressing issue throughout the year.
 
DECNOVOCTSEPAUG
All Items0.4%0.2%0.0%0.2%0.4%
Food and Beverages0.3%-0.1%0.2%0.0%0.1%
Housing0.2%0.3%0.1%0.1%0.2%
Equivalent Rent0.1%0.0%0.2%0.1%0.1%
Apparel1.4%0.9%-1.2%-0.5%0.6%
Transportation1.4%0.3%0.0%1.0%1.3%
Vehicles-0.4%0.0%0.4%2.5%1.9%
Motor Fuel8.4%-0.4%-0.5%0.1%2.0%
Medical Care-0.2%-0.1%-0.3%0.0%0.1%
Educ and Commun0.1%0.0%0.1%-0.2%0.1%
Special Indices
Core0.1%0.2%0.0%0.2%0.4%
Energy4.0%0.4%0.1%0.8%0.9%
Services0.1%0.3%0.1%0.1%0.1%