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12-2294-PHI

Thursday, November 15, 2012

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Consumer Price Index, South Region – October 2012

Prices in the South down 0.2 percent over the month; up 2.1 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged down 0.2 percent in October, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that energy prices decreased 4.1 percent over the month, while the indexes for all items less food and energy and for food each edged up 0.3 percent. Within the all items less food and energy group, apparel and shelter were among the indexes 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 2.1 percent. The index for all items less food and energy increased 2.0 percent over the year. (See chart 1.)

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

Food

Food prices edged up 0.3 percent in October as prices for food at home rose 0.5 percent and those for food away from home inched up 0.1 percent.

Since October 2011, the index for food advanced 1.9 percent. Prices for food away from home and food at home increased 2.6 and 1.4 percent, respectively.

Energy

The energy index decreased 4.1 percent in October, led by a 3.8-percent decline in motor fuel prices and a 5.5-percent seasonal decrease in electricity prices. Utility (piped) gas service prices increased 0.8 percent over the month.

Over the year, energy prices rose 2.4 percent, primarily reflecting a 7.2-percent advance in motor fuel prices. This increase was partially offset by price declines for electricity and utility (piped) gas service, down 3.1 percent and 9.6 percent, respectively.

All items less food and energy

The index for all items less food and energy edged up 0.3 percent in October, led by a seasonal increase in apparel prices (3.3 percent) and higher prices for shelter (0.3 percent).

Over the year, the index for all items less food and energy rose 2.0 percent, led by a price increase for shelter (2.5 percent). The medical care index also rose (3.3 percent), as prices for medical care services and medical care commodities increased 3.6 percent and 2.5 percent, respectively.

The November 2012 Consumer Price Index for the South region is scheduled to be released on Friday, December 14, 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 0.5 2.1

October

0.2 3.8 -1.2 3.9 0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1

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; Federal Relay Service: (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-
Aug.
2012
Sep.
2012
Oct.
2012
Oct.
2011
Aug.
2012
Sep.
2012

Expenditure category

All Items

223.919 225.052 224.504 2.1 0.3 -0.2

All items (December 1977=100)

363.228 365.066 364.177

Food and beverages

232.303 232.677 233.483 1.8 0.5 0.3

Food

233.486 233.900 234.709 1.9 0.5 0.3

Food at home

230.036 230.277 231.493 1.4 0.6 0.5

Food away from home

241.247 241.937 242.119 2.6 0.4 0.1

Alcoholic beverages

215.009 214.769 215.532 0.9 0.2 0.4

Housing

208.260 208.411 207.863 1.5 -0.2 -0.3

Shelter

231.197 231.840 232.637 2.5 0.6 0.3

Rent of primary residence (1)

232.796 233.476 235.876 2.9 1.3 1.0

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

234.868 235.475 235.981 2.3 0.5 0.2

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

234.854 235.460 235.968 2.3 0.5 0.2

Fuels and utilities

224.660 223.272 215.635 -1.8 -4.0 -3.4

Household energy

188.566 187.166 178.558 -3.9 -5.3 -4.6

Energy services (1)

188.379 186.963 178.064 -4.0 -5.5 -4.8

Electricity (1)

188.164 187.246 176.901 -3.1 -6.0 -5.5

Utility (piped) gas service (1)

174.145 169.592 170.872 -9.6 -1.9 0.8

Household furnishings and operations

126.228 125.699 125.464 -0.6 -0.6 -0.2

Apparel

130.673 136.002 140.439 3.3 7.5 3.3

Transportation

218.593 221.886 218.374 3.5 -0.1 -1.6

Private transportation

217.218 220.575 216.850 3.6 -0.2 -1.7

New and used motor vehicles (3)

102.167 101.321 100.549 -0.3 -1.6 -0.8

New vehicles

148.974 148.866 148.592 0.9 -0.3 -0.2

New cars and trucks (3) (4)

101.355 101.282 101.102 0.9 -0.2 -0.2

New cars (4)

152.604 152.162 151.744 -0.2 -0.6 -0.3

Used cars and trucks

153.174 149.538 146.764 -1.9 -4.2 -1.9

Motor fuel

311.984 325.908 313.439 7.2 0.5 -3.8

Gasoline (all types)

310.801 324.748 311.969 7.1 0.4 -3.9

Unleaded regular (4)

309.802 324.073 310.837 7.1 0.3 -4.1

Unleaded midgrade (4) (5)

323.485 337.264 325.137 7.0 0.5 -3.6

Unleaded premium (4)

307.045 319.409 308.314 7.4 0.4 -3.5

Medical care

396.445 397.093 396.371 3.3 0.0 -0.2

Medical care commodities

315.740 314.590 315.364 2.5 -0.1 0.2

Medical care services

423.823 425.257 423.885 3.6 0.0 -0.3

Professional services

345.137 345.383 344.363 2.2 -0.2 -0.3

Recreation (3)

114.747 114.805 114.466 0.7 -0.2 -0.3

Education and communication (3)

130.494 130.860 131.149 1.8 0.5 0.2

Other goods and services

385.888 386.390 386.185 1.2 0.1 -0.1

Commodity and service group

All Items

223.919 225.052 224.504 2.1 0.3 -0.2

Commodities

189.172 190.961 190.270 2.0 0.6 -0.4

Commodities less food and beverages

166.892 169.224 167.930 2.1 0.6 -0.8

Nondurables less food and beverages

221.052 226.817 224.825 3.9 1.7 -0.9

Nondurables less food, beverages, and apparel

276.044 282.177 276.575 4.0 0.2 -2.0

Durables

116.168 115.209 114.578 -1.0 -1.4 -0.5

Services

259.643 260.167 259.747 2.1 0.0 -0.2

Rent of shelter (2)

237.539 238.199 238.976 2.4 0.6 0.3

Transportation services

286.428 287.502 288.455 2.7 0.7 0.3

Other services

312.393 313.283 313.449 2.1 0.3 0.1

Special aggregate indexes

All items less medical care

214.159 215.301 214.766 2.0 0.3 -0.2

All items less food

222.221 223.465 222.705 2.1 0.2 -0.3

All items less shelter

222.527 223.874 222.758 1.9 0.1 -0.5

Commodities less food

168.563 170.836 169.591 2.1 0.6 -0.7

Nondurables

227.061 230.369 229.656 2.9 1.1 -0.3

Nondurables less food

220.558 226.016 224.164 3.7 1.6 -0.8

Nondurables less food and apparel

269.638 275.245 270.165 3.8 0.2 -1.8

Services less rent of shelter (2)

295.602 295.967 294.010 1.8 -0.5 -0.7

Services less medical care services

244.760 245.218 244.864 2.0 0.0 -0.1

Energy

240.837 246.437 236.249 2.4 -1.9 -4.1

All items less energy

222.605 223.211 223.806 2.0 0.5 0.3

All items less food and energy

221.072 221.714 222.271 2.0 0.5 0.3

Commodities less food and energy commodities

149.052 149.522 150.035 0.5 0.7 0.3

Energy commodities

315.756 329.546 317.223 7.0 0.5 -3.7

Services less energy services

266.935 267.685 268.268 2.6 0.5 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) 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: December 3, 2012