According to a report from the U.S. Bureau of Labor Statistics yesterday, over the past 12 months the Consumer Price Index for All Urban Consumers (CPI-U) increased only 1.2% (before seasonal adjustment), the smallest 12-month increase since the index began in 1957.
The energy index has been a major component in the increase, however small, rising 5.9% over the year-long span, with the gasoline index up 9.5%. The food index increased 1.4% over the same span.

There were also increases in price indexes outside of energy and food. The index for used cars and trucks was up 8.6%, airline fares 4.4%, and medical care 3.4%. For more information, the full report can be found here.

Nick Haas (nihaas@umich.edu)