Over the past 12 months, the index for all items increased by 3.1 percent before seasonal adjustment.

In January, the index for shelter continued its upward trajectory, climbing by 0.6 percent and accounting for more than two-thirds of the overall monthly increase in all items. Additionally, the food index saw a modest increase of 0.4 percent, with both food at home and food away from home experiencing gains.

Conversely, the energy index experienced a decline of 0.9 percent during the month, primarily due to a decrease in the gasoline index.

Excluding food and energy, the index for all items increased by 0.4 percent in January. Key contributors to this rise included shelter, motor vehicle insurance, and medical care. However, the indexes for used cars and trucks, as well as apparel, saw decreases over the month.

Looking at the annual trends, the all items index showed a 3.1 percent increase for the 12 months ending in January, slightly lower than the 3.4 percent increase for the previous 12 months ending in December.

Meanwhile, the index for all items less food and energy saw a 3.9 percent increase over the last 12 months, consistent with the increase observed for the 12 months ending in December. Notably, the energy index decreased by 4.6 percent for the 12 months ending in January, while the food index saw a 2.6 percent increase over the same period. (ILKHA)