This should be the last hot one, with lower YoY prints going forward.
From the Bureau of Labor Statistics, February 12:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in January, after rising 0.4 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.0 percent before seasonal adjustment.
The index for shelter rose 0.4 percent in January, accounting for nearly 30 percent of the monthly all items
increase. The energy index rose 1.1 percent over the month, as the gasoline index increased 1.8 percent. The index for food also increased in January, rising 0.4 percent as the index for food at home rose 0.5 percent and the index for food away from home increased 0.2 percent.
The index for all items less food and energy rose 0.4 percent in January. Indexes that increased over the month include motor vehicle insurance, recreation, used cars and trucks, medical care, communication, and airline fares.
The indexes for apparel, personal care, and household furnishings and operations were among the few major indexes that decreased in January.
The all items index rose 3.0 percent for the 12 months ending January, after rising 2.9 percent over the 12 months ending December. The all items less food and energy index rose 3.3 percent over the last 12 months. The energy index increased 1.0 percent for the 12 months ending January. The food index increased 2.5 percent over the last year....
....MUCH MORE, including discussion and the always interesting Table A.
Related, February 9:"Prepare for a Springtime CPI Collapse"
