The Consumer Price Index (CPI) rose 7.0% in the US between January 2021 and December 2021 (12 months) as this publication of the Bureau of Labor Statistics shows. This represents an increase compared to the previous report. This represents a 39 year high. The last time this index was higher was in June 1982. In December, the CPI increased 0.5%. This represents a deceleration of the month to month inflation.
The main driver of yearly rise was price of energy. The price of energy increased 29.3% in the past 12 months and within this increase, gasoline increased 49.6.% and fuel oil 41.0% .
Regarding the month to month CPI increase, it showed a deceleration as pointed out. This deceleration was caused by a decrease in the price of energy and transportation.
It is expected that the yearly CPI change with continue to increase throughout 2022.
Previous posts regarding the inflation rate
- July 15, 2021. Inflation Peaks as CPI Rises 5.4%
- September 12, 2021. 12-Month Percent Change in CPI is 5.4% in July 2021
- September 15, 2021. 12-Month Percent Change in CPI is 5.3% in August 2021
- October 13, 2021. 12-Month Percent Change in CPI is 5.4% in September 2021
- November 10, 2021. 12-Month Percent Change in CPI is 6.2% in October 2021
- December 10, 2021. Inflation Rate at 6.8% (Annual Rate), Will it Continue to Climb?