Consumer Price Index: Inflation Decreased 0.1%

February 16, 2018

Consumers paid 1.9% more in December 2017 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and the level of inflation decreased 0.1 percentage point from the 2.0% measured in November 2017.

This is according to the latest Consumer Price Index, which said, “Between November 2017 and December 2017, the average cost of goods and services in the CPI decreased 0.2%. The all-items index slipped to 104.0 in December. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $104.00.

“The year-over-year increase in the average cost of premium fuels [4.6%], continues to be the driving force behind the Transport & Foreign Travel sector being the largest contributor to CPI [+3.1%]. In addition, the Food sector and the Tobacco & Liquor sector rose 3.3% and 9.8%, respectively.”

The full December 2017 Consumer Price Index follows below [PDF here]:

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Category: All, Business