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12-2476-PHI

Friday, December 14, 2012

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Consumer Price Index, South Region – November 2012

Prices in the South down 0.5 percent over the month; up 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South decreased 0.5 percent in November, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that energy prices declined 4.7 percent and food prices edged down 0.2 percent over the month. The index for all items less food and energy inched up 0.1 percent. Within the all items less food and energy group, increases in several indexes, most notably medical care, were partially offset by decreases in prices for apparel and used cars and trucks. (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 increased 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, November 2009 - November 2012

Food

Food prices edged down 0.2 percent in November. Prices for food at home declined 0.3 percent, while those for food away from home inched up 0.1 percent.

Since November 2011, the index for food advanced 1.7 percent. Prices for food away from home and food at home increased 2.4 and 1.3 percent, respectively.

Energy

The energy index decreased 4.7 percent in November, led by a 7.6-percent drop in motor fuel prices. Electricity prices declined 1.2 percent, while prices for utility (piped) gas service increased 4.6 percent over the month, the largest advance in nearly three years.

Over the year, energy prices declined 1.2 percent, as prices for electricity and utility (piped) gas service decreased 2.4 and 4.8 percent, respectively. The index for motor fuel was unchanged over the year.

All items less food and energy

The index for all items less food and energy inched up 0.1 percent in November, led by a 0.4-percent increase in medical care prices. Partially moderating the overall increase were a seasonal decline in apparel prices and a decrease in prices for used cars and trucks (-1.6 percent each).

Over the year, the index for all items less food and energy rose 1.9 percent; the largest factor in the advance was a 2.4-percent increase in shelter prices. The medical care index also rose, up 3.0 percent, as prices for medical care services increased 3.2 percent.

The December 2012 Consumer Price Index for the South region is scheduled to be released on Wednesday, January 16, 2013 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 -0.5 1.6

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-
Sep.
2012
Oct.
2012
Nov.
2012
Nov.
2011
Sep.
2012
Oct.
2012

Expenditure category

All Items

225.052 224.504 223.404 1.6 -0.7 -0.5

All items (December 1977=100)

365.066 364.177 362.392

Food and beverages

232.677 233.483 233.164 1.7 0.2 -0.1

Food

233.900 234.709 234.333 1.7 0.2 -0.2

Food at home

230.277 231.493 230.767 1.3 0.2 -0.3

Food away from home

241.937 242.119 242.284 2.4 0.1 0.1

Alcoholic beverages

214.769 215.532 216.070 1.5 0.6 0.2

Housing

208.411 207.863 207.998 1.7 -0.2 0.1

Shelter

231.840 232.637 232.788 2.4 0.4 0.1

Rent of primary residence (1)

233.476 235.876 236.382 2.9 1.2 0.2

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

235.475 235.981 236.502 2.3 0.4 0.2

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

235.460 235.968 236.488 2.3 0.4 0.2

Fuels and utilities

223.272 215.635 215.170 -0.8 -3.6 -0.2

Household energy

187.166 178.558 177.803 -2.7 -5.0 -0.4

Energy services (1)

186.963 178.064 177.234 -2.7 -5.2 -0.5

Electricity (1)

187.246 176.901 174.761 -2.4 -6.7 -1.2

Utility (piped) gas service (1)

169.592 170.872 178.649 -4.8 5.3 4.6

Household furnishings and operations

125.699 125.464 126.022 -0.1 0.3 0.4

Apparel

136.002 140.439 138.147 1.0 1.6 -1.6

Transportation

221.886 218.374 212.487 1.0 -4.2 -2.7

Private transportation

220.575 216.850 210.718 1.0 -4.5 -2.8

New and used motor vehicles (3)

101.321 100.549 100.480 0.1 -0.8 -0.1

New vehicles

148.866 148.592 149.437 1.6 0.4 0.6

New cars and trucks (3) (4)

101.282 101.102 101.679 1.5 0.4 0.6

New cars (4)

152.162 151.744 152.866 0.7 0.5 0.7

Used cars and trucks

149.538 146.764 144.368 -2.3 -3.5 -1.6

Motor fuel

325.908 313.439 289.667 0.0 -11.1 -7.6

Gasoline (all types)

324.748 311.969 287.672 -0.1 -11.4 -7.8

Unleaded regular (4)

324.073 310.837 286.042 -0.3 -11.7 -8.0

Unleaded midgrade (4) (5)

337.264 325.137 300.983 0.3 -10.8 -7.4

Unleaded premium (4)

319.409 308.314 286.522 0.8 -10.3 -7.1

Medical care

397.093 396.371 398.082 3.0 0.2 0.4

Medical care commodities

314.590 315.364 315.596 2.3 0.3 0.1

Medical care services

425.257 423.885 426.217 3.2 0.2 0.6

Professional services

345.383 344.363 344.414 2.1 -0.3 0.0

Recreation (3)

114.805 114.466 114.579 1.1 -0.2 0.1

Education and communication (3)

130.860 131.149 131.194 1.6 0.3 0.0

Other goods and services

386.390 386.185 387.557 1.2 0.3 0.4

Commodity and service group

All Items

225.052 224.504 223.404 1.6 -0.7 -0.5

Commodities

190.961 190.270 187.593 0.7 -1.8 -1.4

Commodities less food and beverages

169.224 167.930 164.343 0.2 -2.9 -2.1

Nondurables less food and beverages

226.817 224.825 217.578 0.7 -4.1 -3.2

Nondurables less food, beverages, and apparel

282.177 276.575 266.419 0.6 -5.6 -3.7

Durables

115.209 114.578 114.490 -0.7 -0.6 -0.1

Services

260.167 259.747 260.132 2.1 0.0 0.1

Rent of shelter (2)

238.199 238.976 239.118 2.3 0.4 0.1

Transportation services

287.502 288.455 290.217 2.7 0.9 0.6

Other services

313.283 313.449 313.733 2.1 0.1 0.1

Special aggregate indexes

All items less medical care

215.301 214.766 213.558 1.5 -0.8 -0.6

All items less food

223.465 222.705 221.493 1.5 -0.9 -0.5

All items less shelter

223.874 222.758 221.126 1.2 -1.2 -0.7

Commodities less food

170.836 169.591 166.099 0.2 -2.8 -2.1

Nondurables

230.369 229.656 225.567 1.2 -2.1 -1.8

Nondurables less food

226.016 224.164 217.315 0.7 -3.8 -3.1

Nondurables less food and apparel

275.245 270.165 260.892 0.6 -5.2 -3.4

Services less rent of shelter (2)

295.967 294.010 294.717 1.9 -0.4 0.2

Services less medical care services

245.218 244.864 245.126 2.0 0.0 0.1

Energy

246.437 236.249 225.039 -1.2 -8.7 -4.7

All items less energy

223.211 223.806 223.903 1.9 0.3 0.0

All items less food and energy

221.714 222.271 222.453 1.9 0.3 0.1

Commodities less food and energy commodities

149.522 150.035 149.690 0.3 0.1 -0.2

Energy commodities

329.546 317.223 293.697 0.0 -10.9 -7.4

Services less energy services

267.685 268.268 268.794 2.5 0.4 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 20, 2012