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14-1182-BOS

Tuesday, June 17, 2014

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CONSUMER PRICE INDEX, NORTHEAST REGION –MAY 2014

Regional Prices Up 0.4 Percent Over the Month; 2.0 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast rose 0.4 percent in May, the U.S. Bureau of Labor Statistics reported today. Deborah Brown, the Bureau’s regional commissioner, noted that the one-month advance was primarily due to a 0.3-percent increase in the all items less food and energy index. The energy index and the food index also increased since April, up 1.2 and 0.6 percent, respectively. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the last 12 months, the CPI-U increased 2.0 percent, due mainly to an advance in the all items less food and energy index, up 1.7 percent. (See chart 1 and table A.) The energy and food indexes also rose since May 2013, up 4.6 and 2.0 percent, respectively. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, May 2011 to May 2014 (not seasonally adjusted)

Food

Over the month, food prices rose 0.6 percent, due to a 1.1-percent increase in prices for food at home—the largest increase in this component of the food index since January 2011. Prices for the other component, food away from home, were unchanged since April.

Over the year, the food index rose 2.0 percent. Prices for the food at home component advanced 2.2 percent and those for food away from home increased 1.7 percent since May 2013.

Energy

The energy index, which includes prices for household and transportation fuels, advanced 1.2 percent over the month. Prices for gasoline rose 2.3 percent and those for electricity, 3.4 percent. Moderating the over-the-month increase in the energy index were lower prices for utility (piped) gas service, down 6.4 percent—their largest one-month decline in two years.

The energy index increased 4.6 percent over the year, due mostly to higher prices for gasoline (5.3 percent); electricity prices also rose (4.7 percent). Utility (piped) gas service prices edged up 0.2 percent since May 2013.

All items less food and energy

The index for all items less food and energy edged up 0.3 percent over the month, due mostly to a 0.5-percent rise in shelter prices. Medical care prices rose as well, also up 0.5 percent in May. Moderating these advances were lower prices for household furnishings and operations (-0.5 percent) and recreation (-0.2 percent) since April.

The all items less food and energy index rose 1.7 percent over the year. The advance primarily reflected a 3.0-percent increase in prices for shelter, which was this index’s largest 12-month increase since March 2008. Price advances were widespread among other components; lower prices for household furnishings and operations, down 2.3 percent, moderated the rise in the all items less food and energy index since May 2013.

The June 2014 Consumer Price Index for the Northeast region is scheduled to be released on July 22, 2014, at 8:30 a.m. (ET).

Table A. Northeast region CPI-U 1-month and 12-month percent changes, all items index (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9 0.3 1.8 0.6 1.5

February

0.6 0.7 0.0 2.5 0.5 2.0 0.4 2.8 0.6 2.0 0.1 1.0

March

0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5 0.0 1.5 0.5 1.5

April

0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3 -0.1 1.1 0.0 1.6

May

0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7 0.0 1.2 0.4 2.0

June

0.8 -1.2 -0.1 1.7 0.1 3.4 -0.2 1.5 0.1 1.5

July

0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1 0.2 1.8

August

0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3 0.2 1.5

September

0.1 -0.7 -0.1 1.2 0.1 4.0 0.5 1.7 0.1 1.1

October

0.0 0.2 0.3 1.5 -0.1 3.6 0.1 1.9 -0.4 0.7

November

0.2 2.0 0.2 1.5 -0.1 3.2 0.2 1.8 0.1 1.0

December

-0.1 2.8 0.0 1.6 -0.3 2.9 -0.3 1.8 0.0 1.3

Technical Note

The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) a CPI for All Urban Consumers (CPI-U) which covers approximately 88 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 29 percent of the total population. The CPI-U includes, in addition to wage earners and clerical workers, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force.

The CPI is based on prices of food, clothing, shelter, and fuels, transportation fares, charges for doctors’ and dentists’ services, drugs, and the other goods and services that people buy for day-to-day living. Each month, prices are collected in 87 urban areas across the country from about 4,000 housing units and approximately 26,000 retail establishments—department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. All taxes directly associated with the purchase and use of items are included in the index.

The index measures price changes from a designated reference date (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. This change can also be expressed in dollars as follows: the price of a base period “market basket” of goods and services in the CPI has risen from $10 in 1982-84 to $11.65. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at www.bls.gov/opub/hom/homch17_a.htm.

In calculating the index, price changes for the various items in each location are averaged together with weights that represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. Because the sample size of a local area is smaller, the local area index is subject to substantially more sampling and other measurement error than the national index. In addition, local indexes are not adjusted for seasonal influences. As a result, local area indexes show greater volatility than the national index, although their long-term trends are quite similar. NOTE: Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.

Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Northeast Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Historical
data
Mar.
2014
Apr.
2014
May
2014
May
2013
Mar.
2014
Apr.
2014

All items

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252.413 252.506 253.598 2.0 0.5 0.4

All items (December 1977 = 100)

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397.473 397.619 399.339

Food and beverages

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245.441 245.684 247.213 1.9 0.7 0.6

Food

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245.294 245.588 247.177 2.0 0.8 0.6

Food at home

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243.235 243.573 246.166 2.2 1.2 1.1

Food away from home

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251.406 251.638 251.756 1.7 0.1 0.0

Alcoholic beverages

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246.155 245.756 246.507 0.1 0.1 0.3

Housing

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261.945 261.192 262.198 2.6 0.1 0.4

Shelter

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315.041 315.663 317.363 3.0 0.7 0.5

Rent of primary residence (1)

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314.109 314.988 315.883 2.6 0.6 0.3

Owners' equivalent rent of residences (1) (2)

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326.924 327.241 327.998 3.0 0.3 0.2

Owners' equivalent rent of primary residence (1) (2)

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326.812 327.122 327.878 3.0 0.3 0.2

Fuels and utilities

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237.032 228.207 228.329 3.8 -3.7 0.1

Household energy

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216.366 206.834 206.958 3.8 -4.3 0.1

Energy services (1)

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203.925 194.829 195.715 3.2 -4.0 0.5

Electricity (1)

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204.418 190.794 197.344 4.7 -3.5 3.4

Utility (piped) gas service (1)

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191.122 193.132 180.727 0.2 -5.4 -6.4

Household furnishings and operations

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125.162 125.586 124.936 -2.3 -0.2 -0.5

Apparel

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130.924 130.628 130.688 0.8 -0.2 0.0

Transportation

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218.235 220.139 222.368 2.3 1.9 1.0

Private transportation

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210.958 212.500 214.024 2.4 1.5 0.7

New and used motor vehicles (3)

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98.372 98.809 98.853 -0.2 0.5 0.0

New vehicles

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144.420 144.921 144.771 0.5 0.2 -0.1

New cars and trucks (3) (4)

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100.040 100.391 100.298 0.5 0.3 -0.1

New cars (4)

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137.944 138.504 138.430 -0.5 0.4 -0.1

Used cars and trucks

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156.073 157.903 158.953 -0.2 1.8 0.7

Motor fuel

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300.916 305.244 312.055 5.3 3.7 2.2

Gasoline (all types)

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299.393 303.824 310.727 5.3 3.8 2.3

Gasoline, unleaded regular (4)

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300.482 305.000 311.958 5.5 3.8 2.3

Gasoline, unleaded midgrade (4) (5)

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304.968 309.451 316.199 4.7 3.7 2.2

Gasoline, unleaded premium (4)

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290.499 294.380 300.957 4.5 3.6 2.2

Medical care

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451.518 453.094 455.144 1.9 0.8 0.5

Medical care commodities

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365.106 366.828 367.258 0.8 0.6 0.1

Medical care services

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475.446 476.951 479.534 2.3 0.9 0.5

Professional services

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351.085 351.468 352.693 0.9 0.5 0.3

Recreation (3)

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120.721 120.427 120.197 -0.2 -0.4 -0.2

Education and communication (3)

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137.562 137.623 137.517 1.0 0.0 -0.1

Other goods and services

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438.401 438.977 439.354 1.9 0.2 0.1

Commodity and service group

Commodities

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195.401 195.718 196.497 1.2 0.6 0.4

Commodities less food and beverages

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165.851 166.186 166.611 0.8 0.5 0.3

Nondurables less food and beverages

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216.698 216.999 218.247 2.2 0.7 0.6

Durables

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109.319 109.659 109.334 -1.5 0.0 -0.3

Services

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308.285 308.177 309.570 2.5 0.4 0.5

Special aggregate indexes

All items less shelter

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231.423 231.317 232.191 1.5 0.3 0.4

All items less medical care

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243.618 243.649 244.699 2.0 0.4 0.4

Commodities less food

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168.944 169.258 169.695 0.8 0.4 0.3

Nondurables

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232.084 232.360 233.752 2.0 0.7 0.6

Nondurables less food

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218.331 218.589 219.807 2.0 0.7 0.6

Services less rent of shelter (2)

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311.938 311.008 312.092 1.9 0.0 0.3

Services less medical care services

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296.648 296.443 297.758 2.5 0.4 0.4

Energy

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251.824 248.059 250.971 4.6 -0.3 1.2

All items less energy

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254.922 255.415 256.329 1.8 0.6 0.4

All items less food and energy

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258.285 258.817 259.616 1.7 0.5 0.3

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Indexes on a December 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

Note: Index applies to a month as a whole, not to any specific date.