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Thursday, February 20, 2014

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Consumer Price Index, Northeast Region – January 2014

Regional Prices Up 0.6 Percent Over the Month; 1.5 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast region rose 0.6 percent in January, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the recent advance was led by an increase in the energy index (3.9 percent); the all items less food and energy index and the food index also rose, up 0.2 and 0.4 percent, respectively, since December. (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 1.5 percent, due mostly to a 1.6-percent advance in the all items less food and energy index. (See chart 1 and table A.) The energy index and the food index also rose since January 2013, up 2.5 and 0.5 percent, respectively. (See table 1.)

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

Food

Over the month, the food index increased 0.4 percent. Prices were higher for both components of the food index—food at home prices advanced 0.6 percent and those for food away from home, 0.2 percent.

Over the year, the food index rose 0.5 percent. Prices for the food away from home component rose 1.8 percent, while those for food at home decreased 0.5 percent since January 2013.

Energy

The energy index, which includes prices for household and transportation fuels, advanced 3.9 percent over the month. Most of the recent increase was due to a jump in electricity prices, up 8.8 percent since December. The January increase was the largest one-month advance in electricity prices since June 2006. Utility (piped) gas prices also rose over the month, up 6.3 percent, as did prices for gasoline, up 0.5 percent.

The energy index rose 2.5 percent over the year, due almost entirely to a 9.3-percent jump in electricity prices—the largest over-the-year increase in electricity prices since August 2008. Utility (piped) gas prices also rose since January 2013, up 0.3 percent, while gasoline prices declined, down 0.6 percent.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent over the month. The advance was led by higher prices for shelter (0.4 percent), particularly owners’ equivalent rent of residences (0.3 percent), since December. Prices for recreation also advanced, up 1.2 percent. These and other increases were moderated by lower prices for apparel, down 0.6 percent in January.

The all items less food and energy index rose 1.6 percent over the year. The advance mainly reflected higher prices for shelter, particularly those for owners’ equivalent rent of residences, each up 2.8 percent since January 2013. Price increases were widespread among other components, including medical care (1.5 percent) and education and communication (1.0 percent). Moderating the 12-month rise in the all items less food and energy index were lower prices for household furnishings and operations (-2.1 percent) and apparel (-0.8 percent).

The February 2014 Consumer Price Index for the Northeast region is scheduled to be released on March 18, 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

March

0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5 0.0 1.5

April

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

May

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

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.

Table 1. 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
Nov.
2013
Dec.
2013
Jan.
2014
Jan.
2013
Nov.
2013
Dec.
2013

All items

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249.503 249.567 251.045 1.5 0.6 0.6

All items (December 1977 = 100)

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392.891 392.991 395.319

Food and beverages

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242.806 243.215 244.204 0.5 0.6 0.4

Food

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242.474 242.955 244.046 0.5 0.6 0.4

Food at home

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239.698 240.331 241.790 -0.5 0.9 0.6

Food away from home

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249.613 249.877 250.436 1.8 0.3 0.2

Alcoholic beverages

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246.036 245.399 245.060 1.0 -0.4 -0.1

Housing

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257.530 258.172 261.042 2.7 1.4 1.1

Shelter

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312.085 312.512 313.633 2.8 0.5 0.4

Rent of primary residence (1)

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311.745 312.489 313.545 3.0 0.6 0.3

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

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324.283 325.027 326.000 2.8 0.5 0.3

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

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324.196 324.940 325.893 2.8 0.5 0.3

Fuels and utilities

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219.212 222.413 236.254 5.3 7.8 6.2

Household energy

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197.809 201.085 215.826 5.8 9.1 7.3

Energy services (1)

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186.252 188.736 204.013 6.5 9.5 8.1

Electricity (1)

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187.491 190.990 207.768 9.3 10.8 8.8

Utility (piped) gas service (1)

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172.464 172.685 183.580 0.3 6.4 6.3

Household furnishings and operations

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125.386 124.767 125.830 -2.1 0.4 0.9

Apparel

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132.300 126.585 125.842 -0.8 -4.9 -0.6

Transportation

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214.909 216.275 215.918 0.5 0.5 -0.2

Private transportation

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206.112 208.457 208.796 0.5 1.3 0.2

New and used motor vehicles (3)

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98.408 98.291 98.138 -1.0 -0.3 -0.2

New vehicles

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144.205 144.129 144.426 -0.4 0.2 0.2

New cars and trucks (3) (4)

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99.902 99.844 100.042 -0.4 0.1 0.2

New cars (4)

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138.517 138.405 138.758 -1.3 0.2 0.3

Used cars and trucks

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155.299 154.877 154.185 -0.3 -0.7 -0.4

Motor fuel

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282.662 291.055 292.580 -0.6 3.5 0.5

Gasoline (all types)

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281.292 289.736 291.209 -0.6 3.5 0.5

Gasoline, unleaded regular (4)

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281.345 290.344 291.705 -0.6 3.7 0.5

Gasoline, unleaded midgrade (4) (5)

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289.554 296.483 298.309 -0.8 3.0 0.6

Gasoline, unleaded premium (4)

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276.302 282.923 284.593 -0.6 3.0 0.6

Medical care

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449.025 446.921 448.007 1.5 -0.2 0.2

Medical care commodities

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366.104 358.465 361.546 -0.3 -1.2 0.9

Medical care services

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471.389 471.616 471.997 2.1 0.1 0.1

Professional services

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350.980 351.103 350.350 1.3 -0.2 -0.2

Recreation (3)

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120.060 119.863 121.276 0.9 1.0 1.2

Education and communication (3)

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138.058 137.821 137.757 1.0 -0.2 0.0

Other goods and services

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434.107 434.273 436.928 1.5 0.6 0.6

Commodity and service group

Commodities

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192.732 192.581 193.443 -0.3 0.4 0.4

Commodities less food and beverages

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163.280 162.891 163.663 -0.8 0.2 0.5

Nondurables less food and beverages

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211.518 211.000 212.218 -0.3 0.3 0.6

Durables

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109.212 108.963 109.290 -1.5 0.1 0.3

Services

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305.101 305.367 307.429 2.6 0.8 0.7

Special aggregate indexes

All items less shelter

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228.498 228.427 230.056 0.9 0.7 0.7

All items less medical care

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240.705 240.851 242.342 1.5 0.7 0.6

Commodities less food

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166.437 166.039 166.781 -0.7 0.2 0.4

Nondurables

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228.073 227.985 229.104 0.1 0.5 0.5

Nondurables less food

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213.458 212.935 214.058 -0.3 0.3 0.5

Services less rent of shelter (2)

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308.384 308.516 311.674 2.4 1.1 1.0

Services less medical care services

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293.534 293.800 295.953 2.7 0.8 0.7

Energy

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233.390 238.786 248.034 2.5 6.3 3.9

All items less energy

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253.605 253.104 253.792 1.4 0.1 0.3

All items less food and energy

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257.238 256.548 257.168 1.6 0.0 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)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.



Last Modified Date: February 21, 2014

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