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Thursday, February 20, 2014

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Consumer Price Index, South Region – January 2014

Prices in the South up 0.3 percent over the month and 1.7 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged up 0.3 percent in January, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau's regional commissioner, noted that the energy index advanced 1.1 percent over the month. The all items less food and energy index inched up 0.1 percent and the food index was up 0.5 percent in January. Within the all items less food and energy group, higher prices for shelter, medical care services, and education and communication were partially offset by a seasonal decline in apparel prices. (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 1.7 percent. The index for all items less food and energy also increased 1.7 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), South region, January 2011 to January 2014 (not seasonally adjusted)

Food

The food index advanced 0.5 percent in January, primarily due to a 0.7-percent increase in prices for food at home. Food away from home prices inched up 0.1 percent over the month.

Since January 2013, the index for food rose 1.5 percent. Prices for food away from home and food at home increased 2.2 and 1.1 percent, respectively.

Energy

The energy index rose 1.1 percent over the month, led by a 1.7-percent advance in electricity prices. Over the month, prices for motor fuel and utility (piped) gas service also increased, up 0.6 and 1.6 percent, respectively.

Over the year, energy prices advanced 1.5 percent. Price increases were recorded for electricity (5.1 percent) and utility (piped) gas service (3.9 percent). Motor fuel prices declined 1.0 percent since January 2013.

All items less food and energy

The index for all items less food and energy inched up 0.1 percent in January. Among the components of the index recording price increases were shelter (0.3 percent), medical care services (0.9 percent), and education and communication (0.4 percent). These increases were partially offset by a 2.3-percent seasonal decline in apparel prices.

Over the year, the index for all items less food and energy advanced 1.7 percent, led by a 2.4-percent increase in shelter prices.

The February 2014 Consumer Price Index for the South region is scheduled to be released on March 18, 2014, 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 2009 2010 2011 2012 2013 2014
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

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

February

0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5

April

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

May

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

June

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

July

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

August

0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3

October

0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1 -0.2 1.3

November

0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6 -0.3 1.5

December

-0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7 0.1 1.8

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 CPI is 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. Each month, prices are collected 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.

The index measures price changes from a designated reference date (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. 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. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at www.bls.gov/opub/hom/homch17_a.htm.

In calculating the index, price changes for the various items in each location are averaged together with weights that represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. Because the sample size of a local area is smaller, the local area index is subject to substantially more sampling and other measurement error than the national index. In addition, local indexes are not adjusted for seasonal influences. As a result, local area indexes show greater volatility than the national index, although their long-term trends are quite similar. NOTE: Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.

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-
Nov.
2013
Dec.
2013
Jan.
2014
Jan.
2013
Nov.
2013
Dec.
2013

Expenditure category

All Items

226.811 227.082 227.673 1.7 0.4 0.3

All items (December 1977=100)

367.919 368.358 369.317

Food and beverages

236.783 236.944 238.064 1.5 0.5 0.5

Food

237.876 238.001 239.105 1.5 0.5 0.5

Food at home

232.985 233.001 234.691 1.1 0.7 0.7

Food away from home

247.931 248.227 248.479 2.2 0.2 0.1

Alcoholic beverages

220.837 221.538 222.867 2.2 0.9 0.6

Housing

211.954 212.340 213.297 2.2 0.6 0.5

Shelter

237.953 238.671 239.490 2.4 0.6 0.3

Rent of primary residence (1)

242.429 243.434 243.787 2.6 0.6 0.1

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

241.311 242.071 242.529 2.2 0.5 0.2

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

241.297 242.058 242.520 2.2 0.5 0.2

Fuels and utilities

222.244 221.873 224.930 4.5 1.2 1.4

Household energy

183.689 183.340 186.559 5.1 1.6 1.8

Gas (piped) and electricity (1)

183.138 182.631 185.698 4.9 1.4 1.7

Electricity (1)

180.505 180.010 183.064 5.1 1.4 1.7

Utility (piped) gas service (1)

185.105 184.567 187.460 3.9 1.3 1.6

Household furnishings and operations

123.207 122.936 122.955 -2.4 -0.2 0.0

Apparel

138.872 137.721 134.492 1.5 -3.2 -2.3

Transportation

213.674 214.637 214.497 0.6 0.4 -0.1

Private transportation

211.605 212.832 212.972 0.7 0.6 0.1

New and used motor vehicles (3)

102.457 102.361 102.399 1.4 -0.1 0.0

New vehicles

151.784 151.561 151.996 0.7 0.1 0.3

New cars and trucks (3) (4)

103.301 103.148 103.442 0.7 0.1 0.3

New cars (3)

153.709 153.768 154.525 0.1 0.5 0.5

Used cars and trucks

147.628 147.176 146.461 1.8 -0.8 -0.5

Motor fuel

281.023 285.173 286.794 -1.0 2.1 0.6

Gasoline (all types)

279.163 283.374 285.008 -1.0 2.1 0.6

Unleaded regular (4)

276.681 280.932 282.530 -1.3 2.1 0.6

Unleaded midgrade (4) (5)

293.391 297.828 299.437 -0.6 2.1 0.5

Unleaded premium (4)

282.237 285.993 287.845 0.4 2.0 0.6

Medical Care

407.736 407.168 410.294 2.1 0.6 0.8

Medical care commodities

325.451 321.532 322.777 1.4 -0.8 0.4

Medical care services

435.574 436.509 440.390 2.4 1.1 0.9

Professional services

349.455 350.372 351.091 1.7 0.5 0.2

Recreation (3)

115.614 115.308 115.549 0.7 -0.1 0.2

Education and communication (3)

133.517 133.480 134.025 1.8 0.4 0.4

Other goods and services

393.918 395.546 396.262 2.0 0.6 0.2

Commodity and Service Group

All Items

226.811 227.082 227.673 1.7 0.4 0.3

Commodities

187.855 187.962 188.123 0.4 0.1 0.1

Commodities less food & beverages

163.212 163.294 163.068 -0.3 -0.1 -0.1

Nondurables less food & beverages

216.130 216.703 216.204 0.2 0.0 -0.2

Nondurables less food, beverages, and apparel

263.734 265.276 266.314 -0.1 1.0 0.4

Durables

113.653 113.263 113.272 -1.2 -0.3 0.0

Services

266.570 266.999 268.012 2.5 0.5 0.4

Rent of shelter (2)

244.299 245.019 245.822 2.4 0.6 0.3

Transportation services

300.578 300.534 298.043 2.1 -0.8 -0.8

Other services

321.387 321.381 322.629 2.3 0.4 0.4

Special aggregate indexes:

All items less medical care

216.661 216.965 217.442 1.6 0.4 0.2

All items less food

224.876 225.169 225.682 1.7 0.4 0.2

All items less shelter

223.822 223.907 224.408 1.3 0.3 0.2

Commodities less food

165.114 165.212 165.026 -0.2 -0.1 -0.1

Nondurables

226.443 226.829 227.081 0.9 0.3 0.1

Nondurables less food

216.180 216.759 216.361 0.3 0.1 -0.2

Nondurables less food and apparel

258.795 260.263 261.321 0.0 1.0 0.4

Services less rent of shelter (2)

302.949 303.021 304.330 2.7 0.5 0.4

Services less medical care services

251.262 251.653 252.474 2.6 0.5 0.3

Energy

224.196 225.900 228.328 1.5 1.8 1.1

All items less energy

227.825 227.926 228.313 1.7 0.2 0.2

All items less food and energy

226.450 226.548 226.811 1.7 0.2 0.1

Commodities less food and energy commodities

149.878 149.304 148.817 0.0 -0.7 -0.3

Energy commodities

285.288 289.570 291.435 -0.8 2.2 0.6

Services less energy services

275.267 275.805 276.581 2.4 0.5 0.3

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.

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.
- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.



Last Modified Date: February 21, 2014