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12-1901-PHI

Friday, September 14, 2012

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Consumer Price Index, South Region – August 2012

Prices in the South up 0.6 percent over the month and 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South rose 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that energy prices increased 4.9 percent over the month. Food prices edged up 0.2 percent and the all items less food and energy index was unchanged since July. Within the all items less food and energy group, small price increases for components including shelter and education and communication were offset by declines in prices for others such as medical care and recreation. (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 1.6 percent. The index for all items less food and energy rose 1.9 percent over the year. (See chart 1.)

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

Food

Food prices increased 0.2 percent in August as prices for both food at home and food away from home edged up (0.2 percent each).

Since August 2011, the index for food advanced 2.1 percent. Prices for food away from home and food at home increased 2.7 and 1.7 percent, respectively.

Energy

The energy index increased 4.9 percent in August, dominated by an 8.3-percent rise in motor fuel prices. Utility (piped) gas service prices rose 4.2 percent, while prices for electricity inched down 0.1 percent over the month.

Over the year, energy prices decreased 1.6 percent, primarily reflecting declines in electricity and utility (piped) gas service, down 1.8 and 11.6 percent, respectively. Motor fuel prices edged down 0.2 percent over the year.

All items less food and energy

The index for all items less food and energy was unchanged in August, as small increases for a few components including shelter (0.1 percent) and education and communication (0.3 percent) were offset by price decreases led by medical care (-0.4 percent).

Over the year, the index for all items less food and energy advanced 1.9 percent, led by price increases for shelter (2.2 percent) and medical care (4.0 percent).

The September 2012 Consumer Price Index for the South region is scheduled to be released on Tuesday, October 16, 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 -0.2

1.4

August

-0.3 2.0 -0.4 5.6 0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6

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 of goods and services purchased by households. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) the CPI for Urban Wage Earners and Clerical Workers (CPI-W), which covers 29 percent of the total population and (2) the CPI for All Urban Consumers (CPI-U) and the Chained CPI for All Urban Consumers (C-CPI-U), which cover approximately 88 percent of the total population and include, in addition to wage earners and clerical worker households, 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 CPIs are 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. Prices are collected each month 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.

In calculating the index, price changes for the various items in each location are averaged together with weights, which represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. For the CPI-U and CPI-W separate indexes are also published by size of city, by region of the country, for cross-classifications of regions and population-size classed, and for 27 local areas. Area indexes do not measure differences in the level of prices among cities; they only measure the average change in prices for each area since the base period. For the C-CPI-U, data are issued only at the national level. It is important to note that the CPI-U and CPI-W are considered final when released, but the C-CPI-U is issued in preliminary form and subject to two annual revisions.

The index measures price changes from a designated reference date. For the CPI-U and the CPI-W the reference base is 1982-84 equals 100. The reference base for the C-CPI-U is December 1999 equals 100. An increase of 16.5 percent from the reference base, for example, is shown as 116.500. 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.

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-
Jun.
2012
Jul.
2012
Aug.
2012
Aug.
2011
Jun.
2012
Jul.
2012

Expenditure category

All Items

223.004 222.667 223.919 1.6 0.4 0.6

All items (December 1977=100)

361.744 361.197 363.228

Food and beverages

231.951 231.977 232.303 2.0 0.2 0.1

Food

232.986 233.034 233.486 2.1 0.2 0.2

Food at home

229.811 229.606 230.036 1.7 0.1 0.2

Food away from home

240.314 240.756 241.247 2.7 0.4 0.2

Alcoholic beverages

216.868 216.560 215.009 1.0 -0.9 -0.7

Housing

207.997 208.087 208.260 1.5 0.1 0.1

Shelter

230.470 231.018 231.197 2.2 0.3 0.1

Rent of primary residence (1)

231.863 232.700 232.796 2.2 0.4 0.0

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

233.718 234.211 234.868 2.1 0.5 0.3

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

233.703 234.195 234.854 2.1 0.5 0.3

Fuels and utilities

225.946 223.698 224.660 -1.2 -0.6 0.4

Household energy

190.640 187.787 188.566 -3.1 -1.1 0.4

Energy services (1)

190.530 187.611 188.379 -3.2 -1.1 0.4

Electricity (1)

191.785 188.364 188.164 -1.8 -1.9 -0.1

Utility (piped) gas service (1)

166.529 167.119 174.145 -11.6 4.6 4.2

Household furnishings and operations

126.525 126.687 126.228 0.5 -0.2 -0.4

Apparel

134.757 130.628 130.673 -0.7 -3.0 0.0

Transportation

213.034 212.387 218.593 0.9 2.6 2.9

Private transportation

211.190 210.708 217.218 1.1 2.9 3.1

New and used motor vehicles (3)

102.441 102.371 102.167 0.3 -0.3 -0.2

New vehicles

149.780 149.165 148.974 1.1 -0.5 -0.1

New cars and trucks (3) (4)

101.889 101.467 101.355 1.1 -0.5 -0.1

New cars (4)

153.525 152.850 152.604 0.2 -0.6 -0.2

Used cars and trucks

153.513 154.020 153.174 -0.1 -0.2 -0.5

Motor fuel

290.491 288.059 311.984 -0.2 7.4 8.3

Gasoline (all types)

289.064 286.683 310.801 -0.3 7.5 8.4

Unleaded regular (4)

287.841 285.586 309.802 -0.4 7.6 8.5

Unleaded midgrade (4) (5)

301.525 298.567 323.485 -0.3 7.3 8.3

Unleaded premium (4)

286.322 283.928 307.045 0.4 7.2 8.1

Medical care

397.266 397.983 396.445 4.0 -0.2 -0.4

Medical care commodities

314.938 316.520 315.740 3.3 0.3 -0.2

Medical care services

425.349 425.666 423.823 4.2 -0.4 -0.4

Professional services

343.929 343.948 345.137 2.6 0.4 0.3

Recreation (3)

115.108 114.859 114.747 0.9 -0.3 -0.1

Education and communication (3)

130.225 130.080 130.494 1.8 0.2 0.3

Other goods and services

385.413 385.498 385.888 2.1 0.1 0.1

Commodity and service group

All Items

223.004 222.667 223.919 1.6 0.4 0.6

Commodities

187.647 186.881 189.172 0.9 0.8 1.2

Commodities less food and beverages

164.918 163.844 166.892 0.2 1.2 1.9

Nondurables less food and beverages

216.525 214.331 221.052 0.5 2.1 3.1

Nondurables less food, beverages, and apparel

266.640 265.471 276.044 0.8 3.5 4.0

Durables

116.641 116.638 116.168 -0.4 -0.4 -0.4

Services

259.297 259.363 259.643 2.1 0.1 0.1

Rent of shelter (2)

236.795 237.356 237.539 2.1 0.3 0.1

Transportation services

285.464 285.620 286.428 2.2 0.3 0.3

Other services

311.814 311.721 312.393 2.3 0.2 0.2

Special aggregate indexes

All items less medical care

213.180 212.801 214.159 1.4 0.5 0.6

All items less food

221.242 220.845 222.221 1.5 0.4 0.6

All items less shelter

221.527 220.816 222.527 1.3 0.5 0.8

Commodities less food

166.682 165.624 168.563 0.2 1.1 1.8

Nondurables

224.437 223.255 227.061 1.2 1.2 1.7

Nondurables less food

216.356 214.258 220.558 0.6 1.9 2.9

Nondurables less food and apparel

261.156 260.061 269.638 0.9 3.2 3.7

Services less rent of shelter (2)

295.752 295.188 295.602 2.0 -0.1 0.1

Services less medical care services

244.309 244.358 244.760 1.9 0.2 0.2

Energy

232.149 229.546 240.837 -1.6 3.7 4.9

All items less energy

222.610 222.541 222.605 1.9 0.0 0.0

All items less food and energy

221.168 221.077 221.072 1.9 0.0 0.0

Commodities less food and energy commodities

150.265 149.402 149.052 0.4 -0.8 -0.2

Energy commodities

294.413 291.982 315.756 -0.3 7.2 8.1

Services less energy services

266.295 266.713 266.935 2.5 0.2 0.1

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: September 17, 2012