Bob Richardson

The Bureau of Labor Statistics (BLS) released August 2019 Consumer Price Indexes (CPI) today. The all items category was unchanged over the last month & rose by 1.7% over the last year while All items less food and energy increased 0.2% from July – August ’19 and rose by 2.4% from August ’18 – ’19. The Men’s and boys’ apparel category rose by 1.3% over the last month and increased by 3.1% over the last year. Tobacco and smoking products increased by 0.4% from July – August ’19 and rose by 5.6% from August ’18 – ’19. Candy & chewing gum rose by 0.4% over the last month and increased by 3.7% over the last year. Recreational reading materials increased 1.0% from July – August ’19 and rose by 3.5% from August ’18 – ’19. Newspapers & magazines rose by 1.4% over the last month and increased by 6.9% over the last year. All inflation rates mentioned within are seasonally unadjusted.

CPI Historical Average Annual Inflation Rates for Selected Commodities Through August 2019

BLS CPI CodeBLS CPI Category Description1 Month Aug '19YTD Aug '191 Yr. Aug '193 Yr. Aug '195 Yr. Aug '1910 Yr. Aug '1920 Yr. Aug '19
SAFFOOD & BEVERAGES0.05%1.23%1.72%1.43%1.18%1.72%2.27%
SAF11Food at home-0.09%0.49%0.47%0.43%0.04%1.21%1.94%
SAF114Nonalcoholic beverages & beverage materials0.23%1.03%1.70%0.60%0.53%0.43%1.18%
SEFNJuices & nonalcoholic drinks0.28%1.13%2.36%0.99%0.94%0.51%1.28%
SEFN01Carbonated drinks1.33%2.74%2.34%1.61%1.29%0.94%1.81%
SEFN03Nonfrozen noncarbonated juices & drinks-0.48%0.01%2.44%0.51%0.67%0.15%0.73%
SEFPBeverage materials including coffee & tea0.08%0.77%0.10%-0.32%-0.48%0.27%0.94%
SEFP02Other beverage materials including tea-1.09%0.09%0.58%0.18%0.41%0.37%1.08%
SAF115Other food at home-0.05%0.53%0.32%0.17%0.34%0.98%1.58%
SEFT06Other miscellaneous foods0.00%-0.93%0.36%0.10%0.24%0.77%1.14%
SEFWAlcoholic beverages at home0.15%1.09%2.38%1.36%0.87%0.78%1.47%
SEFW01Beer, ale & other malt beverages at home-0.17%0.18%2.55%1.87%1.52%1.49%2.09%
SEFW02Distilled spirits at home0.04%2.09%1.92%0.69%0.40%0.31%1.15%
SEFW03Wine at home0.52%1.75%2.36%0.97%0.28%0.05%0.72%
SEHEFUEL OIL & OTHER FUELS-1.71%-4.21%-7.13%6.80%-3.98%1.28%5.69%
SAH3HOUSEHOLD FURNISHINGS & OPERATIONS-0.44%1.27%2.21%0.76%0.17%-0.36%-0.12%
SAM1MEDICAL CARE COMMODITIES0.59%1.14%0.09%0.90%2.10%2.26%2.52%
SEMFMedicinal drugs0.61%1.16%0.01%0.90%2.17%
SEMF01Prescription drugs0.34%0.87%-0.67%0.91%2.70%2.98%3.28%
SEMF02Nonprescription drugs1.63%2.26%2.65%0.85%0.12%
SEMGMedical equipment and supplies-0.01%0.82%2.48%0.79%0.30%
SEEAEDUCATIONAL BOOKS & SUPPLIES1.56%-0.08%-0.42%0.33%2.21%3.54%4.94%
SEGATOBACCO & SMOKING PRODUCTS0.36%3.87%5.64%5.07%4.43%3.94%6.01%
SEGBPERSONAL CARE PRODUCTS0.01%0.23%-0.13%-0.46%-0.38%-0.09%0.28%
SEGEMISCELLANEOUS PERSONAL GOODS2.18%6.69%0.68%-0.76%-2.22%-1.49%-1.31%
SAGOTHER GOODS AND SERVICES0.30%1.80%2.29%2.23%2.07%1.97%2.86%
SEREOther recreational goods0.26%-3.05%-5.12%-7.12%-6.63%-5.32%-4.74%
SERGRecreational reading materials1.05%3.17%3.54%2.33%1.87%1.53%1.67%
Capitalized descriptions denotes a Major BLS Category Group (i.e. IPIC pool)

CPI vs. PPI Supermarket Inflation Comparison Through August 2019

Inflation Rate PeriodCPI InflationPPI InflationDIFF: CPI VS PPI
8 Months Ended August '190.64%0.29%0.35%
7 Months Ended July '190.60%0.39%0.21%
6 Months Ended June '190.56%0.52%0.04%
5 Months Ended May '190.80%-0.04%0.84%
4 Months Ended April '190.79%-0.04%0.83%
3 Months Ended March '190.80%0.17%0.63%
2 Months Ended February '190.64%-0.19%0.83%
1 Month Ended January '190.49%0.13%0.36%
12 Months Ended December '180.41%2.85%-2.44%
12 Months Ended December '170.47%2.85%-2.39%
12 Months Ended December '160.10%1.32%-1.22%
12 Months Ended December '150.11%0.19%-0.08%
12 Months Ended December '142.46%5.07%-2.61%
12 Months Ended December '130.14%2.04%-1.90%
12 Months Ended December '121.00%2.72%-1.71%
12 Months Ended December '114.07%5.20%-1.13%
12 Months Ended December '100.90%2.92%-2.03%
12 Months Ended December '09-0.59%1.72%-2.30%
3 Year Average Ended Dec. '180.32%2.34%-2.02%
5 Year Average Ended Dec. '180.71%2.46%-1.75%
10 Year Average Ended Dec. '180.91%2.69%-1.78%

Rates are representative of a supermarket’s actual inventory balances, product mix & applicable BLS categories; inflation rates calculated using a supermarket that has the following departments: bakery, beer/wine, dairy, deli, frozen foods, gen. merch., grocery, health & beauty aids, meat, pharmacy, produce & tobacco. PPI inflation calculated uses BLS Table 9 preliminary indexes; CPI inflation calculated uses U.S. City averages for all urban consumers, seasonally unadjusted.

BLS PPI Resources & Links

PPI BLS Economic News Release BLS PPI Table 9 Detailed Report BLS PPI Table 11 Detailed Report Good LIFO Candidates by Industry