Consumer Price Index: Inflation Decreased 0.1%

February 8, 2017

Consumers paid 1.6% more in December 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation decreased 0.1 percentage points from the 1.7% measured in November 2016.

The Consumer Price Index report said, “Between November 2016 and December 2016, the average cost of goods and services in the CPI decreased 0.1%. The all-items index dropped to 102.1 in December. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $102.10.

“The Transport & Foreign Travel sector was the largest contributor to the year-over-year change for the second consecutive month. This sector decreased 1.2%, led by an 11.8% drop in the average cost in air fares. In contrast, the Tobacco & Liquor sector and the Education, Recreation, Entertainment & Reading sector rose 5.6% and 4.0%, respectively.”

The full December 2016 Consumer Price Index follows below [PDF here]:

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