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15-1407-ATL Friday, July 17, 2015

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Consumer Price Index, Miami-Fort Lauderdale – June 2015

Area prices up 0.4 percent over the two months and 1.2 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.4 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the energy index advanced 2.8 percent over the two months. The all items less food and energy index edged up 0.2 percent and the food index increased 0.5 percent during the two-month pricing period. (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 rose 1.2 percent reflecting annual increases in several categories, including shelter, medical care, and other goods and services. The index for all items less food and energy advanced 3.2 percent over the year. (See chart 1 and table 1.)

 Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Miami-Fort Lauderdale, June 2012–June 2015

Food

Food prices rose 0.5 percent during the May-June pricing period, led by a 0.7-percent price increase for food at home. Prices for food away from home edged up 0.2-percent over the two months.

From June 2014 to June 2015, the food index rose 1.9 percent, as prices advanced for both food away from home (3.9 percent) and food at home (0.8 percent).

Energy

The energy index increased 2.8 percent during the two month pricing period, reflecting an 8.0-percent rise in motor fuel prices since April. Prices for utility (piped) gas service were up 2.7 percent, while prices for electricity were down 2.5 percent.

Over the year, the energy index fell 16.3 percent largely due to a 24.3-percent drop in prices for motor fuel. Prices also declined over the year for both electricity (-4.7 percent) and utility (piped) gas service (-5.4 percent).

All items less food and energy

The index for all items less food and energy edged up 0.2 percent over the May-June pricing period, as price increases for indexes including medical care (3.2 percent) were offset by a seasonal price decline for apparel (-3.2 percent).

Over the year, the index for all items less food and energy advanced 3.2 percent. Price increases were noted for several categories including shelter (4.0 percent), medical care (5.9 percent), and other goods and services (7.3 percent).

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

 
2010 2011 2012 2013 2014 2015
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

-0.2 0.9 1.1 2.2 1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4

April

0.1 0.9 1.8 4.0 0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5

June

-0.1 0.4 -0.1 4.0 -0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2

August

0.2 0.7 0.7 4.5 0.9 1.4 -0.2 0.6 -0.1 2.4 - -

October

0.4 0.5 -0.3 3.8 0.3 2.0 0.6 0.9 0.4 2.2 - -

December

0.6 0.9 -0.1 3.1 -0.7 1.4 0.2 1.9 -0.6 1.4 - -

The Consumer Price Index for July 2015 is scheduled to be released on Wednesday, August 19, 2015.


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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 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 6,000 housing units and approximately 24,000 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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.

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
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Apr.
2015
May
2015
Jun.
2015
Jun.
2014
Apr.
2015
May
2015

Expenditure category

 
 

All Items

245.195 - 246.245 1.2 0.4 -

All items (November 1977=100)

395.220 - 396.913 - - -

Food and beverages

255.563 - 256.580 1.9 0.4 -

Food

257.977 - 259.252 1.9 0.5 -

Food at home

254.634 254.785 256.378 0.8 0.7 0.6

Food away from home

266.195 - 266.691 3.9 0.2 -

Alcoholic beverages

222.789 - 219.386 1.5 -1.5 -

Housing

247.014 - 246.268 2.9 -0.3 -

Shelter

277.859 276.833 277.626 4.0 -0.1 0.3

Rent of primary residence (1)

271.326 270.038 270.360 5.4 -0.4 0.1

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

279.234 278.712 279.564 3.4 0.1 0.3

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

279.234 278.712 279.564 3.4 0.1 0.3

Fuels and utilities

175.066 - 171.515 -4.2 -2.0 -

Household energy

153.492 149.343 149.553 -4.9 -2.6 0.1

Energy services (1)

150.094 146.222 146.439 -4.7 -2.4 0.1

Electricity (1)

146.657 142.775 142.961 -4.7 -2.5 0.1

Utility (piped) gas service (1)

200.394 203.343 205.708 -5.4 2.7 1.2

Household furnishings and operations

163.508 - 162.812 0.9 -0.4 -

Apparel

147.829 - 143.031 2.4 -3.2 -

Transportation

215.452 - 221.433 -7.2 2.8 -

Private transportation

218.229 - 224.079 -7.3 2.7 -

Motor fuel

230.931 241.555 249.471 -24.3 8.0 3.3

Gasoline (all types)

228.186 238.703 246.546 -24.3 8.0 3.3

Unleaded regular (3)

225.486 236.422 244.158 -24.6 8.3 3.3

Unleaded midgrade (3) (4)

222.499 227.751 235.411 -23.4 5.8 3.4

Unleaded premium (3)

240.190 247.691 256.064 -21.7 6.6 3.4

Medical Care

441.767 - 455.954 5.9 3.2 -

Recreation (5)

114.676 - 115.452 0.8 0.7 -

Education and communication (5)

127.402 - 127.498 1.0 0.1 -

Other goods and services

338.414 - 337.519 7.3 -0.3 -
 

Commodity and service group

 
 

All Items

245.195 - 246.245 1.2 0.4 -

Commodities

200.686 - 202.240 -2.7 0.8 -

Commodities less food & beverages

167.683 - 169.518 -6.3 1.1 -

Nondurables less food & beverages

200.320 - 202.847 -8.8 1.3 -

Durables

133.226 - 134.249 -0.9 0.8 -

Services

279.936 - 280.642 3.3 0.3 -
 

Special aggregate indexes

 
 

All items less medical care

236.431 - 237.068 0.9 0.3 -

All items less shelter

228.156 - 229.912 -0.7 0.8 -

Commodities less food

169.963 - 171.650 -6.0 1.0 -

Nondurables

229.764 - 231.546 -3.1 0.8 -

Nondurables less food

201.948 - 204.170 -8.3 1.1 -

Services less rent of shelter (2)

290.982 - 293.181 2.1 0.8 -

Services less medical care services

267.268 - 267.189 3.1 0.0 -

Energy

187.572 189.432 192.811 -16.3 2.8 1.8

All items less energy

251.742 - 252.321 3.0 0.2 -

All items less food and energy

250.538 - 250.988 3.2 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 November 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: Friday, July 17, 2015

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News Release Information

15-1407-ATL Friday, July 17, 2015

Contacts

Technical information:
Media contact:
  • (404) 893-4220

Consumer Price Index, Miami-Fort Lauderdale – June 2015

Area prices up 0.4 percent over the two months and 1.2 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.4 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the energy index advanced 2.8 percent over the two months. The all items less food and energy index edged up 0.2 percent and the food index increased 0.5 percent during the two-month pricing period. (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 rose 1.2 percent reflecting annual increases in several categories, including shelter, medical care, and other goods and services. The index for all items less food and energy advanced 3.2 percent over the year. (See chart 1 and table 1.)

 Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Miami-Fort Lauderdale, June 2012–June 2015

Food

Food prices rose 0.5 percent during the May-June pricing period, led by a 0.7-percent price increase for food at home. Prices for food away from home edged up 0.2-percent over the two months.

From June 2014 to June 2015, the food index rose 1.9 percent, as prices advanced for both food away from home (3.9 percent) and food at home (0.8 percent).

Energy

The energy index increased 2.8 percent during the two month pricing period, reflecting an 8.0-percent rise in motor fuel prices since April. Prices for utility (piped) gas service were up 2.7 percent, while prices for electricity were down 2.5 percent.

Over the year, the energy index fell 16.3 percent largely due to a 24.3-percent drop in prices for motor fuel. Prices also declined over the year for both electricity (-4.7 percent) and utility (piped) gas service (-5.4 percent).

All items less food and energy

The index for all items less food and energy edged up 0.2 percent over the May-June pricing period, as price increases for indexes including medical care (3.2 percent) were offset by a seasonal price decline for apparel (-3.2 percent).

Over the year, the index for all items less food and energy advanced 3.2 percent. Price increases were noted for several categories including shelter (4.0 percent), medical care (5.9 percent), and other goods and services (7.3 percent).

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

 
2010 2011 2012 2013 2014 2015
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

-0.2 0.9 1.1 2.2 1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4

April

0.1 0.9 1.8 4.0 0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5

June

-0.1 0.4 -0.1 4.0 -0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2

August

0.2 0.7 0.7 4.5 0.9 1.4 -0.2 0.6 -0.1 2.4 - -

October

0.4 0.5 -0.3 3.8 0.3 2.0 0.6 0.9 0.4 2.2 - -

December

0.6 0.9 -0.1 3.1 -0.7 1.4 0.2 1.9 -0.6 1.4 - -

The Consumer Price Index for July 2015 is scheduled to be released on Wednesday, August 19, 2015.


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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 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 6,000 housing units and approximately 24,000 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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.

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
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Apr.
2015
May
2015
Jun.
2015
Jun.
2014
Apr.
2015
May
2015

Expenditure category

 
 

All Items

245.195 - 246.245 1.2 0.4 -

All items (November 1977=100)

395.220 - 396.913 - - -

Food and beverages

255.563 - 256.580 1.9 0.4 -

Food

257.977 - 259.252 1.9 0.5 -

Food at home

254.634 254.785 256.378 0.8 0.7 0.6

Food away from home

266.195 - 266.691 3.9 0.2 -

Alcoholic beverages

222.789 - 219.386 1.5 -1.5 -

Housing

247.014 - 246.268 2.9 -0.3 -

Shelter

277.859 276.833 277.626 4.0 -0.1 0.3

Rent of primary residence (1)

271.326 270.038 270.360 5.4 -0.4 0.1

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

279.234 278.712 279.564 3.4 0.1 0.3

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

279.234 278.712 279.564 3.4 0.1 0.3

Fuels and utilities

175.066 - 171.515 -4.2 -2.0 -

Household energy

153.492 149.343 149.553 -4.9 -2.6 0.1

Energy services (1)

150.094 146.222 146.439 -4.7 -2.4 0.1

Electricity (1)

146.657 142.775 142.961 -4.7 -2.5 0.1

Utility (piped) gas service (1)

200.394 203.343 205.708 -5.4 2.7 1.2

Household furnishings and operations

163.508 - 162.812 0.9 -0.4 -

Apparel

147.829 - 143.031 2.4 -3.2 -

Transportation

215.452 - 221.433 -7.2 2.8 -

Private transportation

218.229 - 224.079 -7.3 2.7 -

Motor fuel

230.931 241.555 249.471 -24.3 8.0 3.3

Gasoline (all types)

228.186 238.703 246.546 -24.3 8.0 3.3

Unleaded regular (3)

225.486 236.422 244.158 -24.6 8.3 3.3

Unleaded midgrade (3) (4)

222.499 227.751 235.411 -23.4 5.8 3.4

Unleaded premium (3)

240.190 247.691 256.064 -21.7 6.6 3.4

Medical Care

441.767 - 455.954 5.9 3.2 -

Recreation (5)

114.676 - 115.452 0.8 0.7 -

Education and communication (5)

127.402 - 127.498 1.0 0.1 -

Other goods and services

338.414 - 337.519 7.3 -0.3 -
 

Commodity and service group

 
 

All Items

245.195 - 246.245 1.2 0.4 -

Commodities

200.686 - 202.240 -2.7 0.8 -

Commodities less food & beverages

167.683 - 169.518 -6.3 1.1 -

Nondurables less food & beverages

200.320 - 202.847 -8.8 1.3 -

Durables

133.226 - 134.249 -0.9 0.8 -

Services

279.936 - 280.642 3.3 0.3 -
 

Special aggregate indexes

 
 

All items less medical care

236.431 - 237.068 0.9 0.3 -

All items less shelter

228.156 - 229.912 -0.7 0.8 -

Commodities less food

169.963 - 171.650 -6.0 1.0 -

Nondurables

229.764 - 231.546 -3.1 0.8 -

Nondurables less food

201.948 - 204.170 -8.3 1.1 -

Services less rent of shelter (2)

290.982 - 293.181 2.1 0.8 -

Services less medical care services

267.268 - 267.189 3.1 0.0 -

Energy

187.572 189.432 192.811 -16.3 2.8 1.8

All items less energy

251.742 - 252.321 3.0 0.2 -

All items less food and energy

250.538 - 250.988 3.2 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 November 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: Friday, July 17, 2015