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Wednesday, October 22, 2014

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Consumer Price Index, South Region – September 2014

Prices in the South up 0.1 percent over the month and 1.7 percent over the year


The Consumer Price Index for All Urban Consumers (CPI-U) for the South inched up 0.1 percent in September, the U.S. Bureau of Labor Statistics reported today. The all items less food and energy index edged up 0.2 percent over the month, as increases for apparel, shelter, and education and communication were largely offset by price decreases for used cars and trucks, and medical care. The food index rose 0.3 percent over the month, while the energy index declined 1.4 percent. (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 rose 1.8 percent over the year. (See chart 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), South region, September 2011 to September 2014


Food

The food index rose 0.3 percent in September. Prices for food at home and food away from home increased 0.4 and 0.2 percent, respectively.

Since September 2013, the food index advanced 2.7 percent, reflecting higher prices for both food at home (2.9 percent) and food away from home (2.5 percent).

Energy

The energy index declined 1.4 percent over the month, led by a 2.2-percent drop in motor fuel prices. Prices for electricity edged down 0.2 percent and utility (piped) gas service prices decreased 0.7 percent.

Over the year, energy prices decreased 0.3 percent, as a 3.4-percent decrease in motor fuel prices was largely offset by price increases for electricity (4.0 percent) and utility (piped) gas service (3.6 percent).

All items less food and energy

The all items less food and energy index edged up 0.2 percent in September, mainly reflecting a seasonal increase in apparel prices (4.3 percent). Price increases were also noted for shelter and education and communication, up 0.2 percent each. These advances were largely offset by a 1.3-percent decrease in prices for used cars and trucks and a 0.1-percent decline in prices for medical care.

Since September 2013, the all items less food and energy index advanced 1.8 percent, led by price increases for shelter (3.4 percent).

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 0.4 1.2

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5 0.6 1.5

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3 0.2 2.4

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2 -0.1 2.0

August

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

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3 0.1 1.7

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 - -