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Tags: cpi | inflation data revision

CPI for November & December Revised Higher

CPI for November & December Revised Higher
(Dreamstime)

Friday, 10 February 2023 09:40 AM EST

U.S. monthly consumer prices rose in December instead of falling as previously estimated, revised government data showed Friday.

The consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month, the Labor Department's annual benchmark revisions of the consumer price index (CPI) showed. Data for November was also revised higher to show the CPI increasing 0.2% instead 0.1% as previously estimated.

The government recalculated seasonal adjustment factors, the model it uses to strip out seasonal fluctuations from the data, from January 2018 through December 2022. The year-on-year data, which is not seasonally adjusted, was unrevised.

Excluding the volatile food and energy components, the CPI rose 0.4% in December, instead of 0.3% as previously reported. Data for November was revised up to show the so-called core CPI advancing 0.3% instead of 0.2% as initially estimated.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. monthly consumer prices rose in December instead of falling as previously estimated, revised government data showed Friday.
cpi, inflation data revision
139
2023-40-10
Friday, 10 February 2023 09:40 AM
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