New York-New Jersey Information Office

News Release Information

14–854–NEW

Thursday, May 15, 2014

Contacts

Technical information:
Media contact:
  • Martin Kohli (646) 264-3620

Consumer Price Index, New York-Northern New Jersey – April 2014

Area prices unchanged over the month and up 1.6 percent over the year

Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were flat in April, after increasing 0.4 percent in March, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli explained that declining energy prices were offset by rising prices for other items, with shelter foremost among them. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the year, the CPI-U rose 1.6 percent, and the index for all items less food and energy increased 1.7 percent. (See table A. ) The 12-month percentage increase in both indexes has been 2.0 percent or less since December 2013. (See chart 1.)

Chart 1. Over-the-year percent change in CPI-U, New York-Northern New Jersey-Long Island, April 2011-April 2014

Food

The food index inched up 0.1 percent, after rising at least 0.3 percent in each of the three prior months. Prices for food at home ticked up 0.1 percent; higher prices were reported for beef steaks, turkey, and fresh fish and seafood. Prices for food away from home were unchanged.

Over the year, the food index increased 0.7 percent. (See table 1.) The 12-month percentage change in prices for food at home was 0.3, compared to a 1.0-percent rise in prices for food away from home.

Energy

The energy index declined 1.6 percent, following a 1.3-percent increase in March. The downturn was largely attributable to a 7.9-percent fall in electricity charges, coupled with a drop in fuel oil charges. Natural gas prices, on the other hand, advanced 2.4 percent, and gasoline prices rose 1.9 percent.

From April 2013 to April 2014, energy prices rose 2.5 percent, reflecting a 5.3-percent increase in electricity prices, tempered by a 1.0-percent decrease in natural gas prices. Gasoline prices recorded a 1.5 percent increase.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent, after increasing 0.3 percent in March. Shelter prices advanced 0.4 percent, including a 0.5-percent rise in residential rent, the largest change recorded in 13 months. Prices also rose for household furnishings and operations (0.3 percent, with higher prices for moving services and gardening), medical care (0.2 percent), and used cars and trucks. Partly offsetting these price rises were declines of 1.5 percent for apparel, and 0.5 percent for recreation. Prices for other goods and services were unchanged over the month.

For the year ended April 2014, the index for all items less food and energy advanced 1.7 percent. Shelter prices increased 3.1 percent—owners’ equivalent rent rose 3.1 percent, and residential rent, 3.0 percent. Other expenditure categories posting increases included medical care (2.1 percent) and other goods and services (1.3 percent).

Table A. New York-Northern New Jersey CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual

January

0.2 1.5 0.2 2.4 0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9

February

0.5 1.6 0.0 1.8 0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1

March

0.2 0.8 0.5 2.1 0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3

April

0.2 0.8 0.2 2.1 0.4 2.5 0.4 2.4 -0.2 1.4 0.0 1.6

May

0.2 -0.1 0.2 2.2 0.6 2.9 0.1 1.8 0.1 1.4

June

0.5 -0.6 -0.1 1.5 0.2 3.2 -0.1 1.6 0.3 1.8

July

0.2 -1.1 0.1 1.5 0.3 3.3 -0.2 1.1 0.2 2.1

August

0.3 -0.9 0.2 1.4 0.4 3.5 0.6 1.4 0.1 1.7

September

0.1 -0.6 0.0 1.2 0.2 3.8 0.4 1.6 0.3 1.6

October

-0.1 0.0 0.2 1.5 -0.2 3.3 -0.1 1.7 -0.6 1.1

November

0.2 1.8 0.0 1.3 -0.3 3.0 0.0 2.0 0.1 1.2

December

-0.1 2.3 0.0 1.4 -0.4 2.7 -0.3 2.1 0.0 1.5

CPI-W

In April, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 255.937, unchanged over the month. The CPI-W increased 1.6 percent over the year.

The May 2014 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released on Tuesday, June 17, 2014 at 8:30 a.m. (ET).

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 25,000 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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

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, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
Feb.
2014
March
2014
April
2014
April
2013
Feb.
2014
March
2014

Expenditure category

All items

259.019 259.971 259.985 1.6 0.4 0.0

All items (1967=100)

748.789 751.541 751.579

Food and beverages

247.642 248.545 248.638 0.6 0.4 0.0

Food

247.380 248.359 248.546 0.7 0.5 0.1

Food at home

246.684 248.281 248.529 0.3 0.7 0.1

Food away from home

254.884 255.034 255.141 1.0 0.1 0.0

Alcoholic beverages

247.315 247.041 245.717 -1.1 -0.6 -0.5

Housing

275.507 276.078 275.770 2.7 0.1 -0.1

Shelter

337.637 338.359 339.551 3.1 0.6 0.4

Rent of primary residence (1)

343.730 344.819 346.679 3.0 0.9 0.5

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

344.896 345.420 346.374 3.1 0.4 0.3

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

344.667 345.194 346.149 3.1 0.4 0.3

Fuels and utilities

212.115 212.823 204.400 3.4 -3.6 -4.0

Household energy

209.056 209.835 200.351 3.4 -4.2 -4.5

Energy services (1)

190.414 192.774 183.280 3.1 -3.7 -4.9

Electricity (1)

196.509 201.606 185.615 5.3 -5.5 -7.9

Utility (piped) gas service (1)

172.649 169.322 173.435 -1.0 0.5 2.4

Household furnishings and operations

117.975 117.905 118.280 -2.3 0.3 0.3

Apparel

124.534 128.118 126.217 -1.5 1.4 -1.5

Transportation

229.720 231.138 233.008 0.9 1.4 0.8

Private transportation

217.412 218.584 220.213 1.4 1.3 0.7

Motor fuel

277.538 284.119 289.484 1.5 4.3 1.9

Gasoline (all types)

276.194 282.777 288.162 1.5 4.3 1.9

Gasoline, unleaded regular (3)

277.960 285.335 291.023 1.7 4.7 2.0

Gasoline, unleaded midgrade (3) (4)

279.746 284.391 289.082 0.8 3.3 1.6

Gasoline, unleaded premium (3)

275.272 279.539 284.006 0.5 3.2 1.6

Medical care

431.317 433.186 433.955 2.1 0.6 0.2

Recreation (5)

120.090 119.603 118.973 -0.2 -0.9 -0.5

Education and communication (5)

140.306 140.464 140.651 0.5 0.2 0.1

Other goods and services

397.908 399.643 399.788 1.3 0.5 0.0

Commodity and service group

All items

259.019 259.971 259.985 1.6 0.4 0.0

Commodities

193.544 194.950 194.876 -0.1 0.7 0.0

Commodities less food and beverages

157.835 159.412 159.262 -0.5 0.9 -0.1

Nondurables less food and beverages

202.252 205.269 204.862 0.2 1.3 -0.2

Durables

101.610 101.585 101.713 -2.1 0.1 0.1

Services

315.167 315.777 315.859 2.5 0.2 0.0

Special aggregate indexes

All items less medical care

251.438 252.351 252.335 1.5 0.4 0.0

All items less shelter

228.353 229.412 228.925 0.7 0.3 -0.2

Commodities less food

161.528 163.061 162.876 -0.5 0.8 -0.1

Nondurables

227.298 229.336 229.166 0.4 0.8 -0.1

Nondurables less food

205.330 208.179 207.722 0.2 1.2 -0.2

Services less rent of shelter (2)

301.660 302.155 300.924 1.6 -0.2 -0.4

Services less medical care services

305.751 306.284 306.354 2.5 0.2 0.0

Energy

238.122 241.129 237.186 2.5 -0.4 -1.6

All items less energy

262.914 263.677 264.068 1.5 0.4 0.1

All items less food and energy

267.424 268.153 268.583 1.7 0.4 0.2

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) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.

NOTE: Index applies to a month as a whole, not to any specific date.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven, and Middlesex Counties in Connecticut; and Pike County in Pennsylvania.