Consumer Price Index Has First Positive 12-Month Change Since February

CONSUMER PRICE INDEX – NOVEMBER 2009

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4
percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months the
index increased 1.8 percent before seasonal adjustment, the first positive 12-month change since
February 2009.

The seasonally adjusted increase in the all items index was due to a 4.1 percent increase in the energy
index. The index for gasoline rose sharply and the indexes for electricity, fuel oil, and natural gas also
increased, creating the fourth consecutive rise in the energy index and the largest increase since August.
In contrast, the index for all items less food and energy was unchanged in November, after ten
consecutive monthly increases. Declines in shelter indexes offset increases in the indexes for new and
used motor vehicles, medical care, airline fares, and tobacco.

The food index rose slightly in November. As in October, the food away from home index rose
modestly while the index for food at home was unchanged. Within the latter, three grocery store food
groups posted increases while three declined.

Food

The food index rose 0.1 percent in November, the same increase as in October. The index for food away
from home increased 0.2 percent while the food at home index was unchanged. Among the food at home
groups, the dairy and related products index declined 0.7 percent in November after rising 1.0 percent in
October, and the index for other food at home also declined in November following an October increase.
In contrast, the indexes for fruits and vegetables and for meats, poultry, fish, and eggs both increased in
November after declining in October. The index for nonalcoholic beverages fell for the second straight
month, declining 0.3 percent in November, and the index for cereals and bakery products rose 0.1
percent in November after being unchanged in October. Over the past year, the food index has declined
0.7 percent. The food at home index has fallen 2.9 percent over the last 12 months, with five of the six
grocery store food groups declining, but the index for food away from home has risen 2.1 percent.

Energy

The energy index rose 4.1 percent in November after increasing 1.5 percent in October. The index for
energy commodities rose 6.3 percent, with the gasoline index increasing 6.4 percent. (Before seasonal
adjustment, gasoline prices rose 4.1 percent in November.) The rise in the gasoline index accounted for
over three-quarters of the total energy increase. The remainder of the increase was due to advances in all
of the other energy components. The index for fuel oil rose 9.0 percent in November following a 6.3
percent increase in October. The index for energy services increased 1.4 percent in November, with the
electricity index rising 1.4 percent and the index for natural gas advancing 1.5 percent. The energy index
has risen 7.4 percent over the past 12 months, with the gasoline index rising 23.6 percent.

All items less food and energy

The index for all items less food and energy was unchanged in November after rising 0.2 percent in
October. The heavily weighted index for shelter, unchanged in October, declined 0.2 percent in
November. Within the shelter group, the indexes for rent and owners’ equivalent rent both declined 0.1
percent and the lodging away from home index fell 1.5 percent. Also declining in November were the
indexes for household furnishings and operations and for apparel, both down 0.3 percent. Several
indexes posted increases to offset these declines. The new vehicles index rose 0.6 percent in November,
its tenth increase in the last eleven months. The index for used cars and trucks advanced 2.0 percent in
November and has now risen 11.1 percent since April. The index for airline fares rose 3.8 percent in
November and has increased 13.3 percent since June. The medical care index increased 0.3 percent in
November and the index for tobacco advanced 1.0 percent. Over the past 12 months, the index for all
items less food and energy has risen 1.7 percent.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.8 percent over the last 12
months to an index level of 216.330 (1982-84=100). For the month, the index increased 0.1 percent
prior to seasonal adjustment.