BLS: CPI for all items rises 0.6% in January; and Real average hourly earnings decrease 0.5% in Jan.

[mahatmakanejeeves]

CPI for all items rises 0.6% in January; largest increase since February 2013

Economic News Release USDL-17-0216

Consumer Price Index Summary

Transmission of material in this release is embargoed until 8:30 a.m. (EST) February 15, 2017

Technical information: [phone] [e-mail] www.bls.gov/cpi
Media Contact: [phone] [e-mail]

CONSUMER PRICE INDEX – JANUARY 2017

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.5 percent before seasonal adjustment.

The January increase was the largest seasonally adjusted all items increase since February 2013. A sharp rise in the gasoline index accounted for nearly half the increase, and advances in the indexes for shelter, apparel, and new vehicles also were major contributors.

The energy index increased 4.0 percent in January as the gasoline index advanced 7.8 percent and the index for natural gas also increased. The food index, which had been unchanged for 6 consecutive months, increased 0.1 percent. The food at home index was unchanged, while the index for food away from home rose 0.4 percent.

Real average hourly earnings decrease 0.5% in January

Real Earnings Summary USDL-17-0217

Transmission of material in this release is embargoed until 8:30 a.m. (EST), Wednesday, February 15, 2017

Technical Information: [phone] * [e-mail] * www.bls.gov/ces
Media Contact: [phone] * [e-mail]

REAL EARNINGS * JANUARY 2017

All employees

Real average hourly earnings for all employees decreased 0.5 percent from December to January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.1-percent increase in average hourly earnings combined with a 0.6-percent increase in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average weekly earnings decreased 0.4 percent over the month due to the decrease in real average hourly earnings combined with no change in the average workweek.

Real average hourly earnings were unchanged, seasonally adjusted, from January 2016 to January 2017. No change in real average hourly earnings combined with a 0.6-percent decrease in the average workweek resulted in a 0.6-percent decrease in real average weekly earnings over this period.
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*
* Revisions to Real Earnings Data
*
* The seasonally adjusted constant dollar data presented in this release have been revised to reflect
* new seasonal adjustment factors in the CPI-U and CPI-W. This revision affects seasonally adjusted
* real earnings data from January 2012 through December 2016.
*
* In addition, the average weekly hours and average hourly earnings data have been revised to reflect
* the annual employment benchmark revision, and updated seasonal adjustment factors. Unadjusted hours
* and earnings data have been revised from April 2015 forward, and seasonally adjusted data have been
* revised from January 2012 forward.
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Real Earnings for February 2017 is scheduled to be released on Wednesday, March 15, 2017 at 8:30 a.m. (EDT).

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