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14-1757-PHI

Wednesday, September 17, 2014

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Consumer Price Index, South Region – August 2014

Prices in the South down 0.2 percent over the month; up 1.7 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged down 0.2 percent in August, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Sheila Watkins noted that the energy index declined 2.9 percent over the month. The all items less food and energy index inched up 0.1 percent in August as increases in shelter and education and communication prices were largely offset by a decrease in recreation prices. The food index increased 0.4 percent over the month. (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 all items CPI-U advanced 1.7 percent. The index for all items less food and energy rose 1.8 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in the CPI for All Urban Consumers (CPI-U), South region, August 2011-August 2014

Food

The food index rose 0.4 percent in August. Prices for food at home and food away from home increased 0.5 and 0.2 percent, respectively.

Since August 2013, the food index advanced 2.3 percent, reflecting higher prices for both food at home (2.4 percent) and food away from home (2.2 percent).

Energy

The energy index declined 2.9 percent over the month, led by a 4.7-percent drop in motor fuel prices. Prices for utility (piped) gas service decreased 2.7 percent and electricity prices edged down 0.2 percent.

Over the year, energy prices edged down 0.2 percent, as a 3.3-percent price decrease in motor fuel prices was largely offset by price increases for electricity (3.9 percent) and utility (piped) gas service (4.7 percent).

All items less food and energy

The all items less food and energy index inched up 0.1 percent in August as price increases were noted for shelter and education and communication, up 0.2 and 0.7 percent, respectively. These advances were largely offset by a 0.6-percent decline in recreation prices.

Since August 2013, the all items less food and energy index advanced 1.8 percent, led by price increases for shelter (3.2 percent) and medical care (2.0 percent).

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

Table A. South 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

0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2 0.4 1.6 0.3 1.7

February

0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8 0.4 1.2

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5 0.6 1.5

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3 0.2

2.4

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2 -0.1 2.0

August

0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7 -0.2 1.7

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3

October

0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1 -0.2 1.3

November

0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6 -0.3 1.5

December

-0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7 0.1 1.8

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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

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


South (1982-84=100 unless otherwise noted)
Item and group All Urban Consumers (CPI-U)
Urban Wage Earners and
Clerical Workers (CPI-W)
Historical
data
Index Percent change from
Historical
data
Index Percent change from
Aug.
2014
Aug.
2013
Jul.
2014
Aug.
2014
Aug.
2013
Jul.
2014

All items

Jump to page with historical data
231.611 1.7 -0.2
Jump to page with historical data
229.594 1.5 -0.3

All items (Dec. 1977 = 100)

Jump to page with historical data
375.705
Jump to page with historical data
371.853

Food and beverages

Jump to page with historical data
242.188 2.2 0.4
Jump to page with historical data
241.531 2.3 0.4

Food

Jump to page with historical data
243.595 2.3 0.4
Jump to page with historical data
242.617 2.4 0.4

Food at home

Jump to page with historical data
239.635 2.4 0.5
Jump to page with historical data
238.453 2.5 0.6

Food away from home

Jump to page with historical data
252.353 2.2 0.2
Jump to page with historical data
251.366 2.2 0.2

Alcoholic beverages

Jump to page with historical data
221.932 0.1 -0.2
Jump to page with historical data
224.790 0.5 -0.2

Housing

Jump to page with historical data
218.657 2.8 0.1
Jump to page with historical data
218.890 2.8 0.1

Shelter

Jump to page with historical data
244.437 3.2 0.2
Jump to page with historical data
243.794 3.2 0.2

Rent of primary residence (1)

Jump to page with historical data
248.868 3.3 0.2
Jump to page with historical data
247.188 3.3 0.2

Owners' equivalent rent of primary residence (1) (2) (3)

Jump to page with historical data
246.947 2.9 0.3
Jump to page with historical data
229.524 2.9 0.3

Owners' equivalent rent of primary residence (1) (2) (3)

Jump to page with historical data
246.947 2.9 0.3
Jump to page with historical data
229.504 2.9 0.3

Fuels and utilities

Jump to page with historical data
240.622 3.7 -0.3
Jump to page with historical data
241.490 3.8 -0.3

Household energy

Jump to page with historical data
202.457 4.0 -0.5
Jump to page with historical data
201.828 4.2 -0.5

Gas (piped) and electricity (1)

Jump to page with historical data
202.315 4.0 -0.5
Jump to page with historical data
203.102 4.3 -0.5

Electricity (1)

Jump to page with historical data
201.483 3.9 -0.2
Jump to page with historical data
199.811 4.1 -0.3

Utility (piped) gas service (1)

Jump to page with historical data
190.984 4.7 -2.7
Jump to page with historical data
196.855 5.1 -2.3

Household furnishings and operations

Jump to page with historical data
122.775 -1.7 0.1
Jump to page with historical data
117.512 -2.3 -0.1

Apparel

Jump to page with historical data
131.830 -2.3 0.0
Jump to page with historical data
131.189 -2.8 -0.3

Transportation

Jump to page with historical data
218.549 -0.2 -1.6
Jump to page with historical data
218.836 -0.3 -1.7

Private transportation

Jump to page with historical data
217.161 -0.2 -1.5
Jump to page with historical data
217.369 -0.3 -1.6

New and used motor vehicles (4)

Jump to page with historical data
103.794 0.6 0.3
Jump to page with historical data
102.837 0.7 0.2

New vehicles

Jump to page with historical data
152.785 0.8 0.4
Jump to page with historical data
152.673 0.9 0.3

New cars and trucks (4) (5)

Jump to page with historical data
103.992 0.8 0.4
Jump to page with historical data

New cars (5)

Jump to page with historical data
154.191 0.1 -0.2
Jump to page with historical data

Used cars and trucks

Jump to page with historical data
151.912 0.1 0.3
Jump to page with historical data
153.037 0.1 0.3

Motor fuel

Jump to page with historical data
294.814 -3.3 -4.7
Jump to page with historical data
294.651 -3.3 -4.7

Gasoline (all types)

Jump to page with historical data
293.183 -3.4 -4.8
Jump to page with historical data
293.205 -3.4 -4.8

Gasoline, unleaded regular (5)

Jump to page with historical data
290.648 -3.6 -4.9
Jump to page with historical data
290.688 -3.6 -4.9

Gasoline, unleaded midgrade (5) (6)

Jump to page with historical data
308.751 -2.9 -4.4
Jump to page with historical data
308.435 -3.0 -4.3

Gasoline, unleaded premium (5)

Jump to page with historical data
296.237 -2.5 -4.2
Jump to page with historical data
295.748 -2.4 -4.1

Medical care

Jump to page with historical data
415.472 2.0 0.0
Jump to page with historical data
421.532 1.9 0.0

Medical care commodities

Jump to page with historical data
332.789 3.0 0.4
Jump to page with historical data
325.623 3.0 0.5

Medical care services

Jump to page with historical data
443.374 1.7 -0.1
Jump to page with historical data
451.989 1.5 -0.2

Professional services

Jump to page with historical data
352.442 1.1 0.1
Jump to page with historical data
354.034 1.1 0.1

Recreation (4)

Jump to page with historical data
115.344 -0.2 -0.6
Jump to page with historical data
111.453 -0.4 -0.8

Education and communication (4)

Jump to page with historical data
135.248 2.0 0.7
Jump to page with historical data
125.744 1.4 0.5

Other goods and services

Jump to page with historical data
400.864 1.9 0.0
Jump to page with historical data
428.705 1.9 0.0

Commodities

Jump to page with historical data
190.079 -0.1 -0.5
Jump to page with historical data
193.881 -0.2 -0.7

Services

Jump to page with historical data
273.900 2.9 0.1
Jump to page with historical data
272.542 2.8 0.1

All items less shelter

Jump to page with historical data
227.957 1.0 -0.3
Jump to page with historical data
226.088 0.8 -0.5

All items less medical care

Jump to page with historical data
221.285 1.6 -0.2
Jump to page with historical data
220.430 1.5 -0.3

Energy

Jump to page with historical data
240.328 -0.2 -2.9
Jump to page with historical data
242.293 -0.3 -3.0

All items less energy

Jump to page with historical data
231.359 1.9 0.2
Jump to page with historical data
227.776 1.9 0.2

All items less food and energy

Jump to page with historical data
229.610 1.8 0.1
Jump to page with historical data
224.985 1.8 0.1

South size A (more than 1,500,000)

Jump to page with historical data
232.902 1.8 -0.1
Jump to page with historical data
231.161 1.6 -0.2

South size B/C (50,000 to 1,500,000) (7)

Jump to page with historical data
147.178 1.5 -0.3
Jump to page with historical data
146.833 1.4 -0.3

South size D (nonmetropolitan, less than 50,000)

Jump to page with historical data
238.834 2.3 0.0
Jump to page with historical data
239.044 2.1 -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 for CPI-U on December 1982=100 base; CPI-W on a December 1984=100 base.
(3) This index series underwent a change in composition in January 2010. The expenditure class now includes weight from secondary residences and has been be re-titled "Owners' equivalent rent of residences." The item stratum "Owners' equivalent rent of primary residence" excludes secondary residences.
(4) Indexes on a December 1997=100 base.
(5) Special index based on a substantially smaller sample.
(6) Indexes on a December 1993=100 base.
(7) Indexes on a December 1996=100 base.

South region includes the District of Columbia and the states of Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia.

Last Modified Date: September 18, 2014