New York-New Jersey Information Office

News Release Information

14–613–NEW

Tuesday, April 15, 2014

Contacts

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

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

Area prices up 0.4 percent over the month and 1.3 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), rose 0.4 percent in March, after edging down 0.2 percent in February, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli noted that the upturn reflected higher prices for energy, food, and other items, including apparel and shelter. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the year, the CPI-U advanced 1.3 percent, and the index for all items less food and energy rose 1.4 percent. (See table A. ) For most of the past year, the 12-month percentage increase for all items less food and energy was at or below the increase for all items. (See chart 1.)

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

Food

The food index rose 0.4 percent, following two consecutive 0.3-percent increases. Prices for food at home were 0.6 percent higher than they were in February, and ham, eggs, coffee, milk, and soups were among the groceries that recorded increases. Prices for food away from home inched up 0.1 percent.

Over the year, the food index advanced 1.2 percent. (See table 1.) At-home food prices increased 0.9 percent, and away-from-home food prices rose 1.4 percent.

Energy

The energy index increased 1.3 percent, after dropping 3.4 percent in February. A 2.4-percent rise in gasoline prices accounted for most of the increase, outweighing a 0.4-percent increase in household energy. In contrast to electricity charges, which were 2.6 percent higher than one month earlier, natural gas prices were lower (-1.9 percent), as were fuel oil prices.

For the year ended March 2014, energy prices rose 1.2 percent, primarily driven by electricity prices, which jumped 13.2 percent. That advance was partially offset by a 4.2-percent decline in prices for natural gas, resulting in a 6.4-percent increase in household energy prices. Gasoline prices, in contrast, decreased 4.4 percent.

All items less food and energy

The index for all items less food and energy increased 0.3 percent, after registering no change in February. Not uncommon for this time of year, apparel prices recorded an increase (2.9 percent). Shelter prices edged up 0.2 percent, with a 0.3-percent rise in residential rent and a 0.2-percent increase in owners’ equivalent rent. Among other expenditure categories, prices rose 0.4 percent for medical care and for other goods and services.

From March 2013 to March 2014, the index for all items less food and energy increased 1.4 percent. Shelter prices rose 2.7 percent, reflecting increases for owners’ equivalent rent (2.9 percent) and residential rent (2.4 percent). Medical care prices advanced 2.2 percent, and other goods and services were up 1.5 percent. In contrast, apparel prices declined 0.7 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

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 March, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 255.933, up 0.5 percent over the month. The CPI-W increased 1.3 percent over the year.

The April 2014 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released on Thursday, May 15, 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-
Jan.
2014
Feb.
2014
March
2014
March
2013
Jan.
2014
Feb.
2014

Expenditure category

All items

259.596 259.019 259.971 1.3 0.1 0.4

All items (1967=100)

750.456 748.789 751.541

Food and beverages

246.980 247.642 248.545 1.1 0.6 0.4

Food

246.735 247.380 248.359 1.2 0.7 0.4

Food at home

246.015 246.684 248.281 0.9 0.9 0.6

Food away from home

254.255 254.884 255.034 1.4 0.3 0.1

Alcoholic beverages

246.399 247.315 247.041 -0.6 0.3 -0.1

Housing

277.625 275.507 276.078 2.6 -0.6 0.2

Shelter

337.998 337.637 338.359 2.7 0.1 0.2

Rent of primary residence (1)

344.509 343.730 344.819 2.4 0.1 0.3

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

345.598 344.896 345.420 2.9 -0.1 0.2

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

345.395 344.667 345.194 2.9 -0.1 0.2

Fuels and utilities

224.735 212.115 212.823 5.9 -5.3 0.3

Household energy

223.220 209.056 209.835 6.4 -6.0 0.4

Energy services (1)

207.632 190.414 192.774 7.4 -7.2 1.2

Electricity (1)

220.919 196.509 201.606 13.2 -8.7 2.6

Utility (piped) gas service (1)

174.615 172.649 169.322 -4.2 -3.0 -1.9

Household furnishings and operations

118.714 117.975 117.905 -3.3 -0.7 -0.1

Apparel

122.918 124.534 128.118 -0.7 4.2 2.9

Transportation

228.692 229.720 231.138 -1.0 1.1 0.6

Private transportation

216.723 217.412 218.584 -0.7 0.9 0.5

Motor fuel

276.253 277.538 284.119 -4.3 2.8 2.4

Gasoline (all types)

274.974 276.194 282.777 -4.4 2.8 2.4

Gasoline, unleaded regular (3)

276.589 277.960 285.335 -4.4 3.2 2.7

Gasoline, unleaded midgrade (3) (4)

279.014 279.746 284.391 -4.6 1.9 1.7

Gasoline, unleaded premium (3)

274.909 275.272 279.539 -4.1 1.7 1.6

Medical care

428.633 431.317 433.186 2.2 1.1 0.4

Recreation (5)

120.342 120.090 119.603 0.3 -0.6 -0.4

Education and communication (5)

140.851 140.306 140.464 0.4 -0.3 0.1

Other goods and services

398.742 397.908 399.643 1.5 0.2 0.4

Commodity and service group

All items

259.596 259.019 259.971 1.3 0.1 0.4

Commodities

192.987 193.544 194.950 -0.5 1.0 0.7

Commodities less food and beverages

157.357 157.835 159.412 -1.6 1.3 1.0

Nondurables less food and beverages

200.912 202.252 205.269 -1.2 2.2 1.5

Durables

102.060 101.610 101.585 -2.6 -0.5 0.0

Services

316.650 315.167 315.777 2.3 -0.3 0.2

Special aggregate indexes

All items less medical care

252.137 251.438 252.351 1.3 0.1 0.4

All items less shelter

229.027 228.353 229.412 0.6 0.2 0.5

Commodities less food

161.033 161.528 163.061 -1.6 1.3 0.9

Nondurables

226.266 227.298 229.336 0.0 1.4 0.9

Nondurables less food

204.008 205.330 208.179 -1.1 2.0 1.4

Services less rent of shelter (2)

304.519 301.660 302.155 1.9 -0.8 0.2

Services less medical care services

307.452 305.751 306.284 2.3 -0.4 0.2

Energy

246.581 238.122 241.129 1.2 -2.2 1.3

All items less energy

262.742 262.914 263.677 1.3 0.4 0.3

All items less food and energy

267.337 267.424 268.153 1.4 0.3 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) 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.