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Tuesday, August 19, 2014

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  • Martin Kohli (646) 264-3620

Consumer Price Index, Northeast Region – July 2014

Regional prices up 0.1 percent over the month and 1.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast inched up 0.1 percent in July, the U.S. Bureau of Labor Statistics reported today. Martin Kohli, the Bureau’s chief regional economist, noted that the food index was up 0.6 percent and the all items less food and energy index inched up 0.1 percent over the month; the 0.2-percent decrease in the energy index moderated these increases. (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 1.8 percent, due mainly to an advance in the all items less food and energy index, up 1.6 percent. (See chart 1 and table A.) The food and energy indexes also rose since July 2013, up 2.3 and 2.2 percent, respectively. (See table 1.)

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

Food

Over the month, food prices advanced 0.6 percent, following a slight decrease in June. Food at home prices were up 0.5 percent and those for food away from home rose 0.7 percent, which was the largest one-month increase for this component in two and a half years.

Over the year, the food index rose 2.3 percent. Similarly, prices for the food at home and food away from home components advanced 2.3 percent each since July 2013.

Energy

The energy index, which includes prices for household and transportation fuels, edged down 0.2 percent over the month. Prices for utility (piped) gas service decreased 1.8 percent; gasoline prices edged down 0.2 percent. An increase in electricity prices (0.5 percent) moderated the overall decline in the energy index since June.

The energy index advanced 2.2 percent over the year, due to higher prices for electricity (3.5 percent) and gasoline (1.8 percent). Utility (piped) gas service prices declined 1.0 percent since July 2013.

All items less food and energy

The index for all items less food and energy inched up 0.1 percent over the month. The increase was due mainly to the 0.2-percent advance in shelter prices. Prices also rose for education and communication (0.3 percent) and several other components since June. A smaller-than-usual seasonal decrease in prices for apparel (-0.5 percent), as well as lower prices for household furnishings and operations (-0.3 percent) and recreation (-0.1 percent), nearly offset the one-month increase in the all items less food and energy index.

The all items less food and energy index rose 1.6 percent over the year. The advance primarily reflected a 2.7-percent increase in prices for shelter. Price advances were widespread; only the household furnishings and operations index declined over the year, down 1.3 percent.

The August 2014 Consumer Price Index for the Northeast region is scheduled to be released on September 17, 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 0.0 1.9

July

0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1 0.2 1.8 0.1 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: 800-877-8339.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Northeast (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
May
2014
June
2014
July
2014
July
2013
May
2014
June
2014

Expenditure category

All items

253.598 253.555 253.833 1.8 0.1 0.1

All items (1967=100)

399.339 399.271 399.710

Food and beverages

247.213 246.950 248.378 2.2 0.5 0.6

Food

247.177 246.990 248.470 2.3 0.5 0.6

Food at home

246.166 245.405 246.682 2.3 0.2 0.5

Food away from home

251.756 252.418 254.217 2.3 1.0 0.7

Alcoholic beverages

246.507 245.270 246.023 0.3 -0.2 0.3

Housing

262.198 262.333 262.728 2.4 0.2 0.2

Shelter

317.363 317.463 318.203 2.7 0.3 0.2

Rent of primary residence (1)

315.883 316.277 316.988 2.7 0.3 0.2

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

327.998 328.483 328.932 3.0 0.3 0.1

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

327.878 328.354 328.803 3.0 0.3 0.1

Fuels and utilities

228.329 228.188 228.027 2.7 -0.1 -0.1

Household energy

206.958 206.745 206.337 2.6 -0.3 -0.2

Energy servides (1)

195.715 196.193 195.973 2.3 0.1 -0.1

Electricity (1)

197.344 200.176 201.255 3.5 2.0 0.5

Utility (piped) gas service (1)

180.727 175.675 172.430 -1.0 -4.6 -1.8

Household furnishings and operations

124.936 125.424 125.075 -1.3 0.1 -0.3

Apparel

130.688 128.287 127.594 1.1 -2.4 -0.5

Transportation

222.368 222.575 221.760 1.0 -0.3 -0.4

Private transportation

214.024 213.805 214.021 1.2 0.0 0.1

New and used motor vehicles (3)

98.853 98.730 98.989 0.0 0.1 0.3

New vehicles

144.771 144.637 144.529 0.8 -0.2 -0.1

New cars and trucks (3) (4)

100.298 100.204 100.125 0.8 -0.2 -0.1

New cars (3)

138.430 138.154 137.791 -0.6 -0.5 -0.3

Used cars and trucks

158.953 159.423 160.237 0.3 0.8 0.5

Motor fuel

312.055 311.420 310.631 1.9 -0.5 -0.3

Gasoline (all types)

310.727 310.142 309.385 1.8 -0.4 -0.2

Gasoline, unleaded regular (4)

311.958 311.375 310.426 1.8 -0.5 -0.3

Gasoline, unleaded midgrade (4) (5)

316.199 315.618 315.628 2.0 -0.2 0.0

Gasoline, unleaded premium (5)

300.957 300.484 300.277 1.9 -0.2 -0.1

Medical care

455.144 455.224 455.736 1.7 0.1 0.1

Medical care commodities

367.258 369.352 371.719 1.2 1.2 0.6

Medical care services

479.534 478.916 478.780 2.0 -0.2 0.0

Professional services

352.693 353.137 352.808 0.6 0.0 -0.1

Recreation (3)

120.197 120.489 120.428 0.2 0.2 -0.1

Education and communication (3)

137.517 137.512 137.911 0.9 0.3 0.3

Other goods and services

439.354 440.226 441.551 2.1 0.5 0.3

Commodity and service group

All items

253.598 253.555 253.833 1.8 0.1 0.1

Commodities

196.497 196.076 196.256 1.1 -0.1 0.1

Commodities less food and beverages

166.611 166.140 165.775 0.4 -0.5 -0.2

Nondurables less food and beverages

218.247 217.350 216.978 1.3 -0.6 -0.2

Nondurables less food, beverages, and apparel

286.086 286.126 285.945 1.3 0.0 -0.1

Durables

109.334 109.269 108.939 -1.2 -0.4 -0.3

Services

309.570 309.869 310.242 2.2 0.2 0.1

Rent of shelter (2)

331.972 332.084 332.845 2.7 0.3 0.2

Transportation services

275.889 277.036 274.653 0.7 -0.4 -0.9

Other services

352.911 353.438 354.677 1.7 0.5 0.4

Special aggregate indexes

All items less medical care

244.699 244.652 244.920 1.8 0.1 0.1

All items less food

255.093 255.073 255.164 1.7 0.0 0.0

All items less shelter

232.191 232.094 232.201 1.3 0.0 0.0

Commodities less food

169.695 169.198 168.867 0.4 -0.5 -0.2

Nondurables

233.752 233.148 233.625 1.7 -0.1 0.2

Nondurables less food

219.807 218.890 218.585 1.2 -0.6 -0.1

Nondurables less food and apparel

280.022 279.938 279.849 1.2 -0.1 0.0

Services less rent of shelter (2)

312.092 312.615 312.606 1.6 0.2 0.0

Services less medical care services

297.758 298.110 298.512 2.2 0.3 0.1

Energy

250.971 250.581 250.014 2.2 -0.4 -0.2

All items less energy

256.329 256.322 256.691 1.7 0.1 0.1

All items less food and energy

259.616 259.641 259.814 1.6 0.1 0.1

Commodities less food and energy commodities

151.030 150.646 150.401 -0.2 -0.4 -0.2

Energy commodities

323.183 321.849 320.881 2.2 -0.7 -0.3

Services less energy services

320.796 321.076 321.508 2.2 0.2 0.1

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

Last Modified Date: August 20, 2014

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