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Tuesday, March 18, 2014

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Consumer Price Index, Atlanta – February 2014

Area prices up 1.3 percent over the two months and 1.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta increased 1.3 percent over the two months, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that prices advanced for the all items less food and energy index, as well as the energy and food indexes. Within the all items less food and energy group, apparel and shelter were among those 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 1.8 percent, as price increases for shelter, apparel, and medical care were partially offset by a decline in motor fuel prices. The index for all items less food and energy rose 2.6 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Atlanta, February 2011 - February 2014

Food

Food prices increased 1.2 percent during the January-February pricing period, led by a 1.9-percent price increase for food at home. Prices for food away from home inched up 0.1 percent over the two months.

Over the year, the food index rose 2.0 percent, reflecting price increases for both food at home (2.1 percent) and food away from home (1.6 percent).

Energy

The energy index advanced 3.3 percent over the two-month pricing period, led by a 12.9-percent increase in utility (piped) gas service. Prices for motor fuel and electricity increased 1.7 and 1.8 percent, respectively.

Over the year, the energy index declined 3.4 percent. Price decreases in motor fuel (-9.9 percent) and electricity (-0.6 percent) were partially offset by an increase in prices in utility (piped) gas service (20.0 percent).

All items less food and energy

The index for all items less food and energy advanced 1.1 percent during the January-February pricing period. Apparel registered a seasonal price increase (10.8 percent); higher prices for boy’s apparel were noted. Shelter prices rose 0.6 percent over the two months.

From February 2013 to February 2014, the index for all items less food and energy advanced 2.6 percent, reflecting higher prices for shelter (3.4 percent), apparel (8.5 percent), and medical care (4.1 percent).

Table A. Atlanta metropolitan area CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month

2009 2010 2011 2012 2013 2014
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.1 -2.4 1.1 1.7 1.6 1.5 1.0 2.4 1.9 2.1 1.3 1.8

April

0.0 -3.5 0.7 2.4 1.7 2.5 1.1 1.8 0.1 1.1 - -

June

2.2 -4.0 0.3 0.6 0.9 3.1 0.6 1.5 1.0 1.4 - -

August

-0.1 -3.8 -0.1 0.6 0.6 3.8 0.6 1.5 0.7 1.5 - -

October

-1.1 -2.6 -0.8 0.9 -1.5 3.1 -1.2 1.8 -1.0 1.6 - -

December

-0.3 1.8 -0.2 1.0 -0.3 3.0 -0.9 1.2 -0.2 2.4 - -
____________

The April 2014 Consumer Price Index for Atlanta is scheduled to be released on Thursday, May 15, 2014 at 8:30 a.m. (ET).


Technical Note

The Consumer Price Index for Atlanta is published bi-monthly. 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 the 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.

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
Atlanta, GA (1982-84=100 unless otherwise noted)
Item and Group

Indexes
Percent change from-
Dec.
2013
Jan.
2014
Feb.
2014
Feb.
2013
Dec.
2013
Jan.
2014

Expenditure category

All Items

216.017 218.861 1.8 1.3

All items (1967=100)

651.442 660.018

Food and beverages

240.150 242.645 2.1 1.0

Food

249.962 253.012 2.0 1.2

Food at home

243.674 246.487 248.374 2.1 1.9 0.8

Food away from home

260.534 260.749 1.6 0.1

Alcoholic beverages

152.448 150.061 3.3 -1.6

Housing

205.410 207.630 3.3 1.1

Shelter

218.550 219.643 219.785 3.4 0.6 0.1

Rent of primary residence (1)

218.428 219.812 219.684 4.6 0.6 -0.1

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

215.423 216.283 216.271 3.0 0.4 0.0

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

215.423 216.283 216.271 3.0 0.4 0.0

Fuels and utilities

268.693 280.285 5.3 4.3

Household energy

232.284 236.868 244.397 5.7 5.2 3.2

Energy Services (1)

230.572 235.200 242.216 5.4 5.1 3.0

Electricity (1)

199.748 203.410 203.347 -0.6 1.8 0.0

Utility (piped) gas service (1)

266.099 272.553 300.346 20.0 12.9 10.2

Household furnishings and operations

128.777 129.471 0.2 0.5

Apparel

132.738 147.137 8.5 10.8

Transportation

207.480 209.824 -2.6 1.1

Private transportation

206.719 209.038 -2.5 1.1

Motor fuel

282.865 286.094 287.802 -9.9 1.7 0.6

Gasoline (all types)

280.708 283.937 285.649 -10.1 1.8 0.6

Unleaded regular (3)

277.521 280.616 282.352 -10.3 1.7 0.6

Unleaded midgrade (3) (4)

339.628 343.627 345.382 -9.8 1.7 0.5

Unleaded premium (3)

282.239 285.858 287.672 -9.0 1.9 0.6

Medical Care

383.153 385.245 4.1 0.5

Recreation (5)

85.129 85.378 -2.5 0.3

Education and communication (5)

132.496 133.024 2.3 0.4

Other goods and services

330.902 339.042 -0.8 2.5

Commodity and service group

All Items

216.017 218.861 1.8 1.3

Commodities

181.241 185.044 -0.3 2.1

Commodities less food & beverages

152.841 156.939 -1.7 2.7

Nondurables less food & beverages

191.691 199.457 -2.9 4.1

Durables

113.644 114.357 1.6 0.6

Services

250.911 253.093 3.1 0.9

Special aggregate indexes

All items less medical care

206.792 209.635 1.6 1.4

All items less shelter

220.191 223.918 1.1 1.7

Commodities less food

152.485 156.350 -1.5 2.5

Nondurables

213.471 219.042 -0.6 2.6

Nondurables less food

187.571 194.576 -2.6 3.7

Services less rent of shelter (2)

304.156 307.787 2.7 1.2

Services less medical care services

235.642 237.902 2.9 1.0

Energy

235.050 238.585 242.706 -3.4 3.3 1.7

All items less energy

213.725 216.050 2.5 1.1

All items less food and energy

208.440 210.665 2.6 1.1

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) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.

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

Last Modified Date: March 18, 2014

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