KANSAS CITY – Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.8% in January, the U.S. Bureau of Labor Statistics reported.
The all items less food and energy rose 0.6% in January, largely due to an increase in the index for owners’ equivalent rent of residences. The energy index was up 2.9%, driven mainly by rising gasoline prices. The food index rose 0.7% over the month.
Over the last 12 months, the CPI-U rose 6.0%. The index for all items less food and energy rose 4.9%, while food prices advanced 11.0% compared to their January 2022 levels. Energy prices increased 8.2%, largely the result of an increase in the price of natural gas service. (See chart 1.)
