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15-1026-ATL Friday, May 22, 2015

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Consumer Price Index, Miami-Fort Lauderdale – April 2015

Area prices up 0.8 percent over the two months and 0.5 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.8 percent over the March-April pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index increased 0.5 percent over the two months. The energy index advanced 5.3 percent, while the food index inched down 0.1 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 0.5 percent reflecting annual increases in several categories, including shelter, other goods and services, and medical care. The index for all items less food and energy advanced 2.8 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, April 2012–April 2015

Food

Food prices inched down 0.1 percent during the March-April pricing period as a 0.7-percent decline in prices for food at home was largely offset by a 0.8-percent increase in prices for food away from home.

From April 2014 to April 2015, the food index rose 2.1 percent, as prices advanced for both food away from home (4.1 percent) and food at home (0.8 percent).

Energy

The energy index increased 5.3 percent during the two month pricing period, reflecting a 10.3-percent rise in motor fuel prices. Prices for electricity were also up (0.5 percent), while the index for utility (piped) gas service declined 1.5 percent since February.

Over the year, the energy index decreased 20.0 percent largely due to a 32.0-percent drop in prices for motor fuel. Prices declined over the year for both electricity (-2.3 percent), and utility (piped) gas service (-6.9 percent).

All items less food and energy

The index for all items less food and energy rose 0.5 percent over the March-April pricing period reflecting a 0.7-percent increase in prices for shelter.

Over the year, the index for all items less food and energy advanced 2.8 percent, the highest since October 2008. Price increases were noted for several categories including shelter (4.4 percent), other goods and services (8.5 percent), and medical care (2.2 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 - -

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 May 2015 is scheduled to be released on Thursday, June 18, 2015, at 8:30 a.m. (ET).


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-
Feb.
2015
Mar.
2015
Apr.
2015
Apr.
2014
Feb.
2015
Mar.
2015

Expenditure category

 
 

All Items

243.283 - 245.195 0.5 0.8 -

All items (November 1977=100)

392.138 - 395.220 - - -

Food and beverages

255.961 - 255.563 2.0 -0.2 -

Food

258.328 - 257.977 2.1 -0.1 -

Food at home

256.417 255.130 254.634 0.8 -0.7 -0.2

Food away from home

264.127 - 266.195 4.1 0.8 -

Alcoholic beverages

224.006 - 222.789 1.4 -0.5 -

Housing

245.551 - 247.014 3.5 0.6 -

Shelter

276.019 278.395 277.859 4.4 0.7 -0.2

Rent of primary residence (1)

267.493 270.367 271.326 6.2 1.4 0.4

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

277.545 278.886 279.234 3.7 0.6 0.1

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

277.545 278.886 279.234 3.7 0.6 0.1

Fuels and utilities

174.209 - 175.066 -2.2 0.5 -

Household energy

152.541 153.317 153.492 -2.4 0.6 0.1

Energy services (1)

149.345 150.133 150.094 -2.3 0.5 0.0

Electricity (1)

145.875 146.657 146.657 -2.3 0.5 0.0

Utility (piped) gas service (1)

203.548 203.560 200.394 -6.9 -1.5 -1.6

Household furnishings and operations

163.745 - 163.508 1.5 -0.1 -

Apparel

145.521 - 147.829 -0.8 1.6 -

Transportation

208.769 - 215.452 -11.1 3.2 -

Private transportation

210.829 - 218.229 -11.1 3.5 -

Motor fuel

209.286 226.591 230.931 -32.0 10.3 1.9

Gasoline (all types)

206.761 223.888 228.186 -32.0 10.4 1.9

Unleaded regular (3)

204.111 221.523 225.486 -32.5 10.5 1.8

Unleaded midgrade (3) (4)

202.873 214.500 222.499 -29.3 9.7 3.7

Unleaded premium (3)

219.196 234.174 240.190 -28.3 9.6 2.6

Medical Care

439.750 - 441.767 2.2 0.5 -

Recreation (5)

115.437 - 114.676 -0.3 -0.7 -

Education and communication (5)

127.344 - 127.402 1.2 0.0 -

Other goods and services

338.483 - 338.414 8.5 0.0 -
 

Commodity and service group

 
 

All Items

243.283 - 245.195 0.5 0.8 -

Commodities

197.994 - 200.686 -4.3 1.4 -

Commodities less food & beverages

163.293 - 167.683 -9.1 2.7 -

Nondurables less food & beverages

193.593 - 200.320 -12.7 3.5 -

Durables

131.672 - 133.226 -1.3 1.2 -

Services

278.555 - 279.936 3.1 0.5 -
 

Special aggregate indexes

 
 

All items less medical care

234.544 - 236.431 0.4 0.8 -

All items less shelter

226.198 - 228.156 -2.0 0.9 -

Commodities less food

165.724 - 169.963 -8.8 2.6 -

Nondurables

226.592 - 229.764 -5.0 1.4 -

Nondurables less food

195.622 - 201.948 -12.0 3.2 -

Services less rent of shelter (2)

290.285 - 290.982 1.1 0.2 -

Services less medical care services

265.875 - 267.268 3.2 0.5 -

Energy

178.104 185.683 187.572 -20.0 5.3 1.0

All items less energy

250.681 - 251.742 2.7 0.4 -

All items less food and energy

249.215 - 250.538 2.8 0.5 -

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, May 22, 2015

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News Release Information

15-1026-ATL Friday, May 22, 2015

Contacts

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

Consumer Price Index, Miami-Fort Lauderdale – April 2015

Area prices up 0.8 percent over the two months and 0.5 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.8 percent over the March-April pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index increased 0.5 percent over the two months. The energy index advanced 5.3 percent, while the food index inched down 0.1 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 0.5 percent reflecting annual increases in several categories, including shelter, other goods and services, and medical care. The index for all items less food and energy advanced 2.8 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, April 2012–April 2015

Food

Food prices inched down 0.1 percent during the March-April pricing period as a 0.7-percent decline in prices for food at home was largely offset by a 0.8-percent increase in prices for food away from home.

From April 2014 to April 2015, the food index rose 2.1 percent, as prices advanced for both food away from home (4.1 percent) and food at home (0.8 percent).

Energy

The energy index increased 5.3 percent during the two month pricing period, reflecting a 10.3-percent rise in motor fuel prices. Prices for electricity were also up (0.5 percent), while the index for utility (piped) gas service declined 1.5 percent since February.

Over the year, the energy index decreased 20.0 percent largely due to a 32.0-percent drop in prices for motor fuel. Prices declined over the year for both electricity (-2.3 percent), and utility (piped) gas service (-6.9 percent).

All items less food and energy

The index for all items less food and energy rose 0.5 percent over the March-April pricing period reflecting a 0.7-percent increase in prices for shelter.

Over the year, the index for all items less food and energy advanced 2.8 percent, the highest since October 2008. Price increases were noted for several categories including shelter (4.4 percent), other goods and services (8.5 percent), and medical care (2.2 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 - -

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 May 2015 is scheduled to be released on Thursday, June 18, 2015, at 8:30 a.m. (ET).


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-
Feb.
2015
Mar.
2015
Apr.
2015
Apr.
2014
Feb.
2015
Mar.
2015

Expenditure category

 
 

All Items

243.283 - 245.195 0.5 0.8 -

All items (November 1977=100)

392.138 - 395.220 - - -

Food and beverages

255.961 - 255.563 2.0 -0.2 -

Food

258.328 - 257.977 2.1 -0.1 -

Food at home

256.417 255.130 254.634 0.8 -0.7 -0.2

Food away from home

264.127 - 266.195 4.1 0.8 -

Alcoholic beverages

224.006 - 222.789 1.4 -0.5 -

Housing

245.551 - 247.014 3.5 0.6 -

Shelter

276.019 278.395 277.859 4.4 0.7 -0.2

Rent of primary residence (1)

267.493 270.367 271.326 6.2 1.4 0.4

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

277.545 278.886 279.234 3.7 0.6 0.1

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

277.545 278.886 279.234 3.7 0.6 0.1

Fuels and utilities

174.209 - 175.066 -2.2 0.5 -

Household energy

152.541 153.317 153.492 -2.4 0.6 0.1

Energy services (1)

149.345 150.133 150.094 -2.3 0.5 0.0

Electricity (1)

145.875 146.657 146.657 -2.3 0.5 0.0

Utility (piped) gas service (1)

203.548 203.560 200.394 -6.9 -1.5 -1.6

Household furnishings and operations

163.745 - 163.508 1.5 -0.1 -

Apparel

145.521 - 147.829 -0.8 1.6 -

Transportation

208.769 - 215.452 -11.1 3.2 -

Private transportation

210.829 - 218.229 -11.1 3.5 -

Motor fuel

209.286 226.591 230.931 -32.0 10.3 1.9

Gasoline (all types)

206.761 223.888 228.186 -32.0 10.4 1.9

Unleaded regular (3)

204.111 221.523 225.486 -32.5 10.5 1.8

Unleaded midgrade (3) (4)

202.873 214.500 222.499 -29.3 9.7 3.7

Unleaded premium (3)

219.196 234.174 240.190 -28.3 9.6 2.6

Medical Care

439.750 - 441.767 2.2 0.5 -

Recreation (5)

115.437 - 114.676 -0.3 -0.7 -

Education and communication (5)

127.344 - 127.402 1.2 0.0 -

Other goods and services

338.483 - 338.414 8.5 0.0 -
 

Commodity and service group

 
 

All Items

243.283 - 245.195 0.5 0.8 -

Commodities

197.994 - 200.686 -4.3 1.4 -

Commodities less food & beverages

163.293 - 167.683 -9.1 2.7 -

Nondurables less food & beverages

193.593 - 200.320 -12.7 3.5 -

Durables

131.672 - 133.226 -1.3 1.2 -

Services

278.555 - 279.936 3.1 0.5 -
 

Special aggregate indexes

 
 

All items less medical care

234.544 - 236.431 0.4 0.8 -

All items less shelter

226.198 - 228.156 -2.0 0.9 -

Commodities less food

165.724 - 169.963 -8.8 2.6 -

Nondurables

226.592 - 229.764 -5.0 1.4 -

Nondurables less food

195.622 - 201.948 -12.0 3.2 -

Services less rent of shelter (2)

290.285 - 290.982 1.1 0.2 -

Services less medical care services

265.875 - 267.268 3.2 0.5 -

Energy

178.104 185.683 187.572 -20.0 5.3 1.0

All items less energy

250.681 - 251.742 2.7 0.4 -

All items less food and energy

249.215 - 250.538 2.8 0.5 -

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, May 22, 2015