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Wednesday, November 20, 2013

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Consumer Price Index, South Region – October 2013

Prices in the South down 0.2 percent over the month; up 1.3 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 the energy index decreased 3.7 percent over the month. The all items less food and energy group and the food index each edged up 0.2 percent. Within the all items less food and energy group, shelter and apparel 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 all items CPI-U advanced 1.3 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, October 2010 to October 2013


Food

The food index edged up 0.2 percent in October. Food at home prices increased 0.3 percent and food away from home prices inched up 0.1 percent.

Since October 2012, the index for food rose 1.6 percent. Prices for food away from home and food at home increased 2.1 and 1.3 percent, respectively.

Energy

The energy index declined 3.7 percent over the month, reflecting price decreases for motor fuel (-3.5 percent) and electricity (-4.9 percent). Prices for utility (piped) gas service rose 0.3 percent in October.

Over the year, energy prices decreased 3.2 percent, due to an 8.1-percent decline in motor fuel prices. Prices advanced for both electricity (4.0 percent) and utility (piped) gas service (7.5 percent).

All items less food and energy

The index for all items less food and energy edged up 0.2 percent in October led by increases in shelter and apparel prices, up 0.2 and 1.2 percent, respectively.

Over the year, the index for all items less food and energy advanced 1.9 percent, led by price increases for shelter (2.1 percent), medical care (3.2 percent), and new and used motor vehicles (2.4 percent).


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 0.3 1.5

April

0.7 4.2 0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9

May

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

June

1.1 5.3 1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9

July

0.5 5.8 -0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2

August

-0.4 5.6 0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7

September

0.1 5.4 0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3

October

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

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 - -

____________

The November 2013 Consumer Price Index for the South region is scheduled to be released on Tuesday, December 17, 2013 at 8:30 a.m. (ET).


Impact of Federal Government Shutdown

As a result of the federal government shutdown, all CPI staff were furloughed from October 1, 2013 through October 16, 2013. Data collection, data review and index computation commenced shortly after the end of the shutdown. In order to minimize the impact of the shutdown on the quality and timeliness of the index, resources normally devoted to maintenance and improvement work were redirected into data collection and index production. The sample of prices used to calculate the October index was about 75 percent of the amount usually used in the CPI.


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 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.
2013
Sep.
2013
Oct.
2013
Oct.
2012
Aug.
2013
Sep.
2013

Expenditure category

All Items

227.837 227.876 227.420 1.3 -0.2 -0.2

All items (December 1977=100)

369.584 369.647 368.907

Food and beverages

237.032 236.875 237.412 1.7 0.2 0.2

Food

238.078 237.937 238.514 1.6 0.2 0.2

Food at home

234.032 233.769 234.516 1.3 0.2 0.3

Food away from home

246.816 246.863 247.182 2.1 0.1 0.1

Alcoholic beverages

221.781 221.388 221.341 2.7 -0.2 0.0

Housing

212.802 212.786 212.140 2.1 -0.3 -0.3

Shelter

236.776 236.885 237.445 2.1 0.3 0.2

Rent of primary residence (1)

240.978 241.233 241.940 2.6 0.4 0.3

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

240.020 240.123 240.705 2.0 0.3 0.2

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

240.005 240.108 240.689 2.0 0.3 0.2

Fuels and utilities

232.036 231.718 224.756 4.2 -3.1 -3.0

Household energy

194.622 194.247 186.373 4.4 -4.2 -4.1

Energy services (1)

194.570 194.091 185.936 4.4 -4.4 -4.2

Electricity (1)

193.965 193.296 183.913 4.0 -5.2 -4.9

Utility (piped) gas service (1)

182.358 183.162 183.689 7.5 0.7 0.3

Household furnishings and operations

124.951 124.689 124.275 -0.9 -0.5 -0.3

Apparel

134.981 138.479 140.129 -0.2 3.8 1.2

Transportation

219.008 217.427 215.312 -1.4 -1.7 -1.0

Private transportation

217.560 215.857 213.467 -1.6 -1.9 -1.1

New and used motor vehicles (3)

103.172 102.936 102.917 2.4 -0.2 0.0

New vehicles

151.512 151.779 152.142 2.4 0.4 0.2

New cars and trucks (3) (4)

103.126 103.315 103.541 2.4 0.4 0.2

New cars (4)

154.055 153.839 154.331 1.7 0.2 0.3

Used cars and trucks

151.720 150.347 149.143 1.6 -1.7 -0.8

Motor fuel

304.881 298.434 288.002 -8.1 -5.5 -3.5

Gasoline (all types)

303.638 296.876 286.280 -8.2 -5.7 -3.6

Unleaded regular (4)

301.631 294.696 283.895 -8.7 -5.9 -3.7

Unleaded midgrade (4) (5)

318.050 311.132 300.903 -7.5 -5.4 -3.3

Unleaded premium (4)

303.679 297.906 288.153 -6.5 -5.1 -3.3

Medical care

407.328 409.005 409.169 3.2 0.5 0.0

Medical care commodities

322.993 323.828 325.765 3.3 0.9 0.6

Medical care services

436.087 438.102 437.474 3.2 0.3 -0.1

Professional services

348.565 349.327 349.314 1.4 0.2 0.0

Recreation (3)

115.523 115.623 115.664 1.0 0.1 0.0

Education and communication (3)

132.616 133.261 133.484 1.8 0.7 0.2

Other goods and services

393.486 393.513 393.762 2.0 0.1 0.1

Commodity and service group

All Items

227.837 227.876 227.420 1.3 -0.2 -0.2

Commodities

190.279 189.907 189.226 -0.5 -0.6 -0.4

Commodities less food and beverages

166.477 166.025 164.856 -1.8 -1.0 -0.7

Nondurables less food and beverages

221.395 220.851 218.779 -2.7 -1.2 -0.9

Nondurables less food, beverages, and apparel

274.194 271.395 267.212 -3.4 -2.5 -1.5

Durables

115.020 114.651 114.344 -0.2 -0.6 -0.3

Services

266.280 266.711 266.462 2.6 0.1 -0.1

Rent of shelter (2)

243.104 243.214 243.788 2.0 0.3 0.2

Transportation services

294.600 295.539 298.363 3.4 1.3 1.0

Other services

319.483 320.823 321.193 2.5 0.5 0.1

Special aggregate indexes

All items less medical care

217.738 217.707 217.229 1.1 -0.2 -0.2

All items less food

226.030 226.097 225.480 1.2 -0.2 -0.3

All items less shelter

225.779 225.789 224.903 1.0 -0.4 -0.4

Commodities less food

168.329 167.877 166.734 -1.7 -0.9 -0.7

Nondurables

229.422 229.053 228.173 -0.6 -0.5 -0.4

Nondurables less food

221.224 220.687 218.719 -2.4 -1.1 -0.9

Nondurables less food and apparel

268.461 265.863 262.023 -3.0 -2.4 -1.4

Services less rent of shelter (2)

303.804 304.656 303.352 3.2 -0.1 -0.4

Services less medical care services

250.931 251.259 251.038 2.5 0.0 -0.1

Energy

240.783 237.654 228.778 -3.2 -5.0 -3.7

All items less energy

227.007 227.422 227.964 1.9 0.4 0.2

All items less food and energy

225.448 225.964 226.501 1.9 0.5 0.2

Commodities less food and energy commodities

149.905 150.385 150.689 0.4 0.5 0.2

Energy commodities

308.752 302.459 292.171 -7.9 -5.4 -3.4

Services less energy services

273.596 274.132 274.817 2.4 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: November 21, 2013

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