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12-1469-PHI

Tuesday, July 17, 2012

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Consumer Price Index, South Region – June 2012

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 June, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that energy prices declined 2.6 percent over the month. The indexes for food and all items less food and energy rose 0.2 and 0.1 percent, respectively. Within the all items less food and energy group, the indexes for medical care and shelter were among those that recorded 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 advanced 1.7 percent. The index for all items less food and energy rose 2.4 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), South region, June 2009 - June 2012

Food

Food prices edged up 0.2 percent in June, reflecting higher prices for both food away from home (0.5 percent) and food at home (0.1 percent).

Over the year, the index for food advanced 2.8 percent as prices for food at home and food away from home increased, up 2.7 and 3.0 percent, respectively.

Energy

The energy index fell 2.6 percent in June, due to a 7.8-percent decline in motor fuel prices. Following normal seasonal patterns, electricity prices advanced 6.1 percent. Prices for utility (piped) gas service also rose, up 1.5 percent over the month.

Over the year, energy prices decreased 4.7 percent as price declines were recorded for motor fuel (-7.3 percent) and utility (piped) gas service (-12.6 percent). Electricity prices increased 1.1 percent since June 2011.

All items less food and energy

The index for all items less food and energy inched up 0.1 percent in June. Among the components of the index recording increases were medical care (1.1 percent), shelter (0.1 percent), and used cars and trucks (1.1 percent).

Over the year, the index for all items less food and energy advanced 2.4 percent, led by price increases for shelter (2.2 percent), medical care (4.5 percent), and education and communication (2.9 percent).

The July 2012 Consumer Price Index for the South region is scheduled to be released on Wednesday, August 15, 2012 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

2007 2008 2009 2010 2011 2012
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

0.1 1.8 0.5 4.9 0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2

February

0.5 2.2 0.3 4.6 0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3

March

1.0 2.6 0.8 4.4 0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8

April

0.9 2.5 0.7 4.2 0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5

May

0.6 2.7 0.9 4.6 0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6

June

0.4 2.7 1.1 5.3 1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7

July

-0.1 2.3 0.5 5.8 -0.3 -2.1 -0.1 1.0 0.2 4.1

August

-0.3 2.0 -0.4 5.6 0.1 -1.6 0.2 1.1 0.4 4.3 - -

September

0.3 3.0 0.1 5.4 0.0 -1.8 0.2 1.4 0.0 4.1 - -

October

0.2 3.8 -1.2 3.9 0.2 -0.4 0.1 1.3 -0.2 3.7 - -

November

0.6 4.7 -2.2 1.0 0.2 2.0 0.0 1.1 0.0 3.8 - -

December

0.0 4.4 -1.0 0.0 -0.1 2.9 0.2 1.4 -0.2 3.3 - -

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 the 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 and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available 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.

For further details visit the CPI home page on the Internet at www.bls.gov/cpi or contact our CPI Information and Analysis Section at (202) 691-7000.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; TDD message referral phone number: (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

Indexes
Percent change from-
Apr.
2012
May
2012
Jun.
2012
Jun.
2011
Apr.
2012
May
2012

Expenditure category

All Items

224.275 223.356 223.004 1.7 -0.6 -0.2

All items (December 1977=100)

363.806 362.315 361.744

Food and beverages

231.858 231.494 231.951 2.8 0.0 0.2

Food

232.868 232.489 232.986 2.8 0.1 0.2

Food at home

230.556 229.683 229.811 2.7 -0.3 0.1

Food away from home

238.849 239.236 240.314 3.0 0.6 0.5

Alcoholic beverages

217.143 216.998 216.868 2.0 -0.1 -0.1

Housing

206.344 206.556 207.997 1.9 0.8 0.7

Shelter

229.971 230.142 230.470 2.2 0.2 0.1

Rent of primary residence (1)

231.577 231.801 231.863 2.7 0.1 0.0

Owners' equiv. rent of residences (1) (2)

233.301 233.465 233.718 2.1 0.2 0.1

Owners' equiv. rent of primary residence (1) (2)

233.289 233.451 233.703 2.1 0.2 0.1

Fuels and utilities

216.285 216.979 225.946 0.6 4.5 4.1

Household energy

180.496 181.194 190.640 -0.8 5.6 5.2

Energy services (1)

179.740 180.548 190.530 -0.8 6.0 5.5

Electricity (1)

178.624 180.788 191.785 1.1 7.4 6.1

Utility (piped) gas service (1)

172.100 163.989 166.529 -12.6 -3.2 1.5

Household furnishings and operations

126.539 126.555 126.525 0.8 0.0 0.0

Apparel

137.318 136.626 134.757 3.7 -1.9 -1.4

Transportation

224.411 219.297 213.034 -1.3 -5.1 -2.9

Private transportation

222.915 217.498 211.190 -1.4 -5.3 -2.9

New and used motor vehicles (3)

101.644 102.068 102.441 1.2 0.8 0.4

New vehicles

149.553 149.542 149.780 1.2 0.2 0.2

New cars and trucks (3) (4)

101.742 101.734 101.889 1.1 0.1 0.2

New cars (4)

153.356 153.538 153.525 0.6 0.1 0.0

Used cars and trucks

149.572 151.903 153.513 2.9 2.6 1.1

Motor fuel

336.942 315.190 290.491 -7.3 -13.8 -7.8

Gasoline (all types)

335.932 313.869 289.064 -7.5 -14.0 -7.9

Unleaded regular (4)

335.828 313.200 287.841 -7.7 -14.3 -8.1

Unleaded midgrade (4) (5)

347.962 326.372 301.525 -7.2 -13.3 -7.6

Unleaded premium (4)

327.968 308.201 286.322 -6.6 -12.7 -7.1

Medical care

392.696 392.786 397.266 4.5 1.2 1.1

Medical care commodities

315.456 313.349 314.938 3.3 -0.2 0.5

Medical care services

418.614 419.679 425.349 4.9 1.6 1.4

Professional services

339.012 340.027 343.929 2.5 1.5 1.1

Recreation (3)

114.791 114.946 115.108 0.9 0.3 0.1

Education and communication (3)

129.905 130.154 130.225 2.9 0.2 0.1

Other goods and services

385.596 384.653 385.413 2.2 0.0 0.2

Commodity and service group

All Items

224.275 223.356 223.004 1.7 -0.6 -0.2

Commodities

192.462 190.123 187.647 0.5 -2.5 -1.3

Commodities less food and beverages

171.647 168.548 164.918 -0.8 -3.9 -2.2

Nondurables less food and beverages

230.810 224.088 216.525 -1.3 -6.2 -3.4

Nondurables less food, beverages, and apparel

287.743 277.529 266.640 -2.6 -7.3 -3.9

Durables

116.140 116.508 116.641 0.2 0.4 0.1

Services

257.215 257.634 259.297 2.5 0.8 0.6

Rent of shelter (2)

236.279 236.450 236.795 2.2 0.2 0.1

Transportation services

285.284 286.018 285.464 2.6 0.1 -0.2

Other services

310.523 311.180 311.814 2.9 0.4 0.2

Special aggregate indexes

All items less medical care

214.687 213.735 213.180 1.5 -0.7 -0.3

All items less food

222.728 221.726 221.242 1.5 -0.7 -0.2

All items less shelter

223.549 222.167 221.527 1.4 -0.9 -0.3

Commodities less food

173.265 170.232 166.682 -0.7 -3.8 -2.1

Nondurables

232.165 228.341 224.437 0.6 -3.3 -1.7

Nondurables less food

229.924 223.539 216.356 -1.1 -5.9 -3.2

Nondurables less food and apparel

280.531 271.152 261.156 -2.3 -6.9 -3.7

Services less rent of shelter (2)

291.612 292.360 295.752 2.9 1.4 1.2

Services less medical care services

242.545 242.917 244.309 2.3 0.7 0.6

Energy

247.957 238.429 232.149 -4.7 -6.4 -2.6

All items less energy

222.159 222.259 222.610 2.5 0.2 0.2

All items less food and energy

220.656 220.842 221.168 2.4 0.2 0.1

Commodities less food and energy commodities

150.572 150.474 150.265 1.5 -0.2 -0.1

Energy commodities

340.895 319.214 294.413 -7.2 -13.6 -7.8

Services less energy services

265.250 265.621 266.295 2.8 0.4 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) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

- Data not available.
Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

Last Modified Date: August 20, 2012