Bob Richardson

The Bureau of Labor Statistics (BLS) released July 2019 Consumer Price Indexes (CPI) today. The all items category rose 0.2% over the last month & rose by 1.8% over the last year while All items less food and energy increased 0.1% from June – July ’19 and rose by 2.2% from July ’18 – ’19. The Commodities less food and energy commodities category was also unchanged over the last month & increased by 0.4% over the last year. Tobacco and smoking products increased by 1.0% from June – July ’19 & rose by 5.4% from July ’18 – ’19. Floor coverings rose by 0.7% over the last month & increased by 6.0% over the last year. Newspapers and magazines increased by 0.5% from June – July ’19 & rose by 5.8% from June – July ’19. Living room, kitchen and dining room furniture rose by 0.3% over the last month & increased by 5.1% over the last year. Food away from home rose 0.2% from June – July ’19 & increased by 3.2% from July ’18 – ’19. All inflation rates mentioned within are seasonally unadjusted.

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

BLS CPI CodeBLS CPI Category Description1 Month July '19Yr. to Date1 Yr. July '193 Yr. July '195 Yr. July '1910 Yr. July '1920 Yr. July '19
SAFFOOD & BEVERAGES0.09%1.17%1.79%1.43%1.23%1.72%2.29%
SAF11Food at home-0.02%0.57%0.64%0.44%0.13%1.22%1.96%
SAF114Nonalcoholic beverages & beverage materials-0.32%0.80%1.87%0.60%0.54%0.46%1.18%
SEFNJuices & nonalcoholic drinks-0.36%0.85%2.62%1.00%0.89%0.46%1.27%
SEFN01Carbonated drinks-0.84%1.40%3.15%1.08%1.02%0.78%1.70%
SEFN03Nonfrozen noncarbonated juices & drinks-0.01%0.49%2.33%0.92%0.80%0.19%0.80%
SEFPBeverage materials including coffee & tea-0.21%0.68%0.08%-0.35%-0.36%0.46%0.96%
SEFP02Other beverage materials including tea1.40%1.20%1.62%0.75%0.45%0.77%1.16%
SAF115Other food at home-0.53%0.57%0.10%0.07%0.34%1.00%1.60%
SEFT06Other miscellaneous foods-0.50%-0.94%-0.25%-0.17%0.04%0.76%1.17%
SEFWAlcoholic beverages at home0.14%0.94%2.14%1.28%1.01%0.79%1.47%
SEFW01Beer, ale & other malt beverages at home0.31%0.36%2.58%1.85%1.70%1.51%2.09%
SEFW02Distilled spirits at home0.43%2.05%2.37%0.62%0.45%0.43%1.15%
SEFW03Wine at home-0.12%1.22%1.62%0.85%0.41%0.01%0.70%
SEHEFUEL OIL & OTHER FUELS-0.19%-2.54%-5.18%6.60%-3.76%1.77%5.88%
SAH3HOUSEHOLD FURNISHINGS & OPERATIONS0.10%1.71%2.37%0.76%0.19%-0.39%-0.10%
SAM1MEDICAL CARE COMMODITIES0.22%0.55%-0.44%1.09%1.98%2.26%2.51%
SEMFMedicinal drugs0.29%0.54%-0.51%1.10%2.05%
SEMF01Prescription drugs0.36%0.52%-0.76%1.27%2.68%3.00%3.30%
SEMF02Nonprescription drugs0.04%0.62%0.47%0.39%-0.34%
SEMGMedical equipment and supplies-1.95%0.82%1.65%0.72%0.26%
SEEAEDUCATIONAL BOOKS & SUPPLIES-0.38%-1.61%-3.01%0.27%2.35%3.56%4.91%
SEGATOBACCO & SMOKING PRODUCTS0.99%3.49%5.38%5.18%4.37%3.91%5.90%
SEGBPERSONAL CARE PRODUCTS0.58%0.21%-0.12%-0.37%-0.32%-0.11%0.29%
SEGEMISCELLANEOUS PERSONAL GOODS-0.61%4.41%-3.22%-1.97%-2.87%-1.88%-1.49%
SAGOTHER GOODS AND SERVICES0.53%1.49%1.93%2.18%2.03%1.94%2.83%
SEREOther recreational goods-1.38%-3.30%-6.48%-7.26%-6.84%-5.40%-4.79%
SERGRecreational reading materials0.77%2.10%2.67%2.54%1.56%1.45%1.63%
Capitalized descriptions denotes a Major BLS Category Group (i.e. IPIC pool)

CPI vs. PPI Supermarket Inflation Comparison Through July 2019

Inflation Rate PeriodCPI InflationPPI InflationDIFF: CPI VS PPI
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