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CONSUMER PRICE INDEX - JANUARY 2023

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5 percent in January on a seasonally
adjusted basis, after increasing 0.1 percent in December, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 6.4 percent before seasonal adjustment.

The index for shelter was by far the largest contributor to the monthly all items increase, accounting
for nearly half of the monthly all items increase, with the indexes for food, gasoline, and natural
gas also contributing. The food index increased 0.5 percent over the month with the food at home index
rising 0.4 percent. The energy index increased 2.0 percent over the month as all major energy
component indexes rose over the month.