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Midwest CPI sees slight rise in January

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The Midwest Consumer Price Index for all urban consumers increased slightly, 0.6 percent, in January to 216.37.

The CPI - which shows changes in the prices of energy, food and all other items - is measured in comparison to a base period between 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $216.37 in January, not seasonally adjusted.

Energy and food prices had the largest impact on the January figure, according to a news release from the U.S. Bureau of Labor Statistics.

The energy index increased 2.4 percent during the month, following seven consecutive months of declines resulting in a total decrease of 12.5 percent May-December. Motor fuel prices led the January price increase, with 3.9 percent growth, while costs for utility gas service declined 2.3 percent. Electricity prices overall were up 2 percent.

Food prices rose 0.8 percent in January, with costs for food at home leading the rise with a 5.8 percent jump. Prices for food away from home rose 2.9 percent compared to the same month last year, according to the release.

The index for all other items was up 0.3 percent in January, including higher prices in medical care, a 0.9 percent rise, and shelter, a 0.2 percent increase.

During the last year, the Midwest CPI has risen 2.8 percent.

The Midwest region comprises Missouri, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.[[In-content Ad]]


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