Led by an increase in energy costs, the Midwest Consumer Price Index rose 2.2 percent in January to 228.28 compared with the same month a year earlier.
The CPI – which reflects price changes for energy, food and all other items – is measured in comparison to a base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $228.28 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas, according to the BLS.
The energy index grew 14.4 percent in January compared with the same month in 2016. Within the index, motor fuel prices jumped 28.3 percent, the biggest 12-month gain since September 2011. Piped utility gas service costs increased by 12.4 percent, and electricity prices were up slightly, according to a news release.
The food index decreased by 0.6 percent in December. Prices for food at home dipped 2.4 percent, representing the 16th straight year-to-year drop. Costs for food away from home moved up 2.2 percent compared with January 2016.
The index for all other items inched up 0.4 percent in January. Higher costs for medical care, at 4.1 percent, and shelter, 2.7 percent, offset decreases, according to the release.
