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Friday, March 15, 2013

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Consumer Price Index, South Region – February 2013

Prices in the South up 0.9 percent over the month and 1.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South rose 0.9 percent in February, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that energy prices advanced 5.2 percent over the month and prices for food edged up 0.2 percent. The index for all items less food and energy rose 0.4 percent. Within the all items less food and energy group, price increases were noted for a number of components including shelter and apparel. (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 1.8 percent. The index for all items less food and energy increased 2.1 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), South region, February 2010 - February 2013

Food

Food prices edged up 0.2 percent in February. Prices for food at home and food away from home each increased 0.2 percent over the month.

Since February 2012, the index for food increased 1.7 percent as prices for food away from home and food at home increased, up 2.3 and 1.4 percent, respectively.

Energy

The energy index advanced 5.2 percent in February, led by an 8.8-percent rise in motor fuel prices. Prices for utility (piped) gas service rose 0.3 percent while those for electricity were unchanged.

Over the year, energy prices increased 0.3 percent. Price increases for motor fuel (1.9 percent) and utility (piped) gas service (2.9 percent) were largely offset by a decrease in prices for electricity (-2.9 percent).

All items less food and energy

The index for all items less food and energy rose 0.4 percent in February. Among the components of the index recording price increases were shelter and apparel, up 0.3 and 1.6 percent, respectively.

Over the year, the index for all items less food and energy rose 2.1 percent, led by a price increase for shelter (2.4 percent). Prices for medical care advanced 3.4 percent largely due to a rise in prices for medical care services (4.1 percent).

The March 2013 Consumer Price Index for the South region is scheduled to be released on Tuesday, April 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

2008 2009 2010 2011 2012 2013
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

0.5 4.9 0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2 0.4 1.6

February

0.3 4.6 0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8

March

0.8 4.4 0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8

April

0.7 4.2 0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5

May

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

June

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

July

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

1.4

August

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

September

0.1 5.4 0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1

October

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

November

-2.2 1.0 0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6

December

-1.0 0.0 -0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7

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-
Dec.
2012
Jan.
2013
Feb.
2013
Feb.
2012
Dec.
2012
Jan.
2013

Expenditure category

All Items

223.109 223.933 225.874 1.8 1.2 0.9

All items (December 1977=100)

361.914 363.250 366.398

Food and beverages

233.584 234.434 234.932 1.7 0.6 0.2

Food

234.736 235.552 236.042 1.7 0.6 0.2

Food at home

231.039 232.232 232.784 1.4 0.8 0.2

Food away from home

242.896 243.132 243.532 2.3 0.3 0.2

Alcoholic beverages

216.762 218.106 218.714 1.0 0.9 0.3

Housing

208.346 208.699 209.213 1.7 0.4 0.2

Shelter

233.039 233.811 234.459 2.4 0.6 0.3

Rent of primary residence (1)

236.632 237.547 237.828 3.0 0.5 0.1

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

236.637 237.240 237.564 2.2 0.4 0.1

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

236.623 237.227 237.551 2.2 0.4 0.1

Fuels and utilities

216.650 215.240 215.511 -0.4 -0.5 0.1

Household energy

179.240 177.557 177.719 -2.2 -0.8 0.1

Energy services (1)

178.733 176.988 177.098 -2.1 -0.9 0.1

Electricity (1)

175.612 174.210 174.261 -2.9 -0.8 0.0

Utility (piped) gas service (1)

184.249 180.412 180.899 2.9 -1.8 0.3

Household furnishings and operations

125.885 126.035 126.268 -0.5 0.3 0.2

Apparel

135.012 132.567 134.698 2.1 -0.2 1.6

Transportation

210.699 213.192 220.182 1.9 4.5 3.3

Private transportation

208.895 211.429 218.690 1.8 4.7 3.4

New and used motor vehicles (3)

100.692 100.963 101.271 0.4 0.6 0.3

New vehicles

150.198 150.893 150.955 0.7 0.5 0.0

New cars and trucks (3) (4)

102.218 102.697 102.769 0.8 0.5 0.1

New cars (4)

153.820 154.427 154.432 0.4 0.4 0.0

Used cars and trucks

143.822 143.903 145.404 -0.2 1.1 1.0

Motor fuel

281.924 289.681 315.147 1.9 11.8 8.8

Gasoline (all types)

279.776 287.789 313.606 1.9 12.1 9.0

Unleaded regular (4)

278.071 286.112 312.371 1.6 12.3 9.2

Unleaded midgrade (4) (5)

293.026 301.369 326.842 2.3 11.5 8.5

Unleaded premium (4)

278.981 286.658 310.664 2.8 11.4 8.4

Medical care

398.857 401.735 403.883 3.4 1.3 0.5

Medical care commodities

316.016 318.339 317.202 1.4 0.4 -0.4

Medical care services

427.133 430.196 433.759 4.1 1.6 0.8

Professional services

343.576 345.363 346.717 2.7 0.9 0.4

Recreation (3)

114.418 114.757 115.116 0.9 0.6 0.3

Education and communication (3)

131.100 131.666 132.120 1.7 0.8 0.3

Other goods and services

388.000 388.625 390.774 2.2 0.7 0.6

Commodity and service group

All Items

223.109 223.933 225.874 1.8 1.2 0.9

Commodities

186.531 187.395 190.462 1.0 2.1 1.6

Commodities less food and beverages

162.693 163.543 167.599 0.6 3.0 2.5

Nondurables less food and beverages

214.204 215.765 223.729 1.4 4.4 3.7

Nondurables less food, beverages, and apparel

262.838 266.656 278.031 1.2 5.8 4.3

Durables

114.487 114.660 114.982 -0.9 0.4 0.3

Services

260.564 261.359 262.252 2.4 0.6 0.3

Rent of shelter (2)

239.348 240.150 240.759 2.3 0.6 0.3

Transportation services

290.523 291.847 292.419 3.5 0.7 0.2

Other services

313.938 315.298 316.799 2.6 0.9 0.5

Special aggregate indexes

All items less medical care

213.220 213.947 215.859 1.7 1.2 0.9

All items less food

221.090 221.914 224.079 1.9 1.4 1.0

All items less shelter

220.600 221.452 223.948 1.6 1.5 1.1

Commodities less food

164.503 165.368 169.348 0.6 2.9 2.4

Nondurables

223.925 225.164 229.726 1.5 2.6 2.0

Nondurables less food

214.148 215.696 223.284 1.4 4.3 3.5

Nondurables less food and apparel

257.661 261.266 271.745 1.2 5.5 4.0

Services less rent of shelter (2)

295.418 296.228 297.510 2.5 0.7 0.4

Services less medical care services

245.520 246.165 246.882 2.3 0.6 0.3

Energy

222.271 224.917 236.586 0.3 6.4 5.2

All items less energy

223.901 224.511 225.302 2.0 0.6 0.4

All items less food and energy

222.379 222.953 223.800 2.1 0.6 0.4

Commodities less food and energy commodities

149.041 148.822 149.454 0.2 0.3 0.4

Energy commodities

285.990 293.703 319.032 1.8 11.6 8.6

Services less energy services

269.098 270.189 271.172 2.8 0.8 0.4

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: April 18, 2013

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