Year-on-year, energy prices fell 19.6 percent, with gasoline recording the highest drop (-35.4 percent). Additional downward pressures came from utility gas service (-0.4 percent), used cars and trucks (-4.0 percent), and apparel (-1.4 percent). In contrast, food cost rose 3.2 percent. The index for all items less food and energy increased 1.6 percent.
On a monthly basis, the energy index fell 9.7 percent as the gasoline index fell 18.7 percent in January, the sharpest in a series of seven consecutive declines. The gasoline decrease was overwhelmingly the cause of the decline in the all items index, which would have risen 0.1 percent had the gasoline index been unchanged. The fuel oil index also fell sharply, and the index for natural gas turned down, although the electricity index rose. The food index was unchanged in January, with the food at home index falling for the first time since May 2013.
The index for all items less food and energy rose 0.2 percent in January. The shelter index rose 0.3 percent, and the indexes for personal care, for apparel, and for recreation increased as well. The medical care index was unchanged, while an array of indexes declined in January, including those for household furnishings and operations, alcoholic beverages, new vehicles, used cars and trucks, airline fares, and tobacco.