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14-1969-CHI

Wednesday, October 22, 2014

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Consumer Price Index, Chicago-Gary-Kenosha – September 2014


The Consumer Price Index for All Urban Consumers (CPI-U) in the Chicago-Gary-Kenosha area was unchanged in September, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that energy prices fell 1.4 percent while food prices were 0.6 percent higher in September. The all items less food and energy category increased 0.1 percent over the month. Among the indexes within the all items less food and energy category, prices were higher for shelter and education and communication. The indexes for recreation, household furnishings and operations, and car and truck rental were lower in September. (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 Chicago area all items CPI-U increased 2.1 percent. The energy index rose 6.9 percent since last September primarily due to increases in costs for electricity and utility (piped) gas service. The all items less food and energy index was 1.2 percent higher over the year.

Chart 1. Over-the-year percent change in CPI-U, Chicago-Gary-Kenosha

Food

Food prices increased 0.6 percent in September following a 0.4 percent increase in August. Of the two components within the food index, prices for food at home (groceries) rose 0.3 percent and prices for food away from home (restaurant, cafeteria, and vending purchases) were up 1.0 percent over the month. Within the food at home group, categories experiencing increases included milk and other dairy products (includes yogurt and condensed milk, for example). Prices were lower for uncooked beef steaks and bread.

From September 2013 to September 2014, the food index increased 4.5 percent. Grocery food prices rose 4.5 percent over the year while prices for food eaten away from home increased 4.4 percent compared to last September.

Energy

The energy index was down 1.4 percent in September due to a 10.0 percent decline in the index for utility (piped) gas service. In contrast, electricity costs rose 1.1 percent and prices for gasoline rose 1.2 percent over the month.

Overall energy prices were up 6.9 percent from September 2013 to September 2014. Over the year, the indexes for electricity and utility (piped) gas service rose 30.5 percent and 10.9 percent, respectively, while gasoline prices fell 2.7 percent.

All items less food and energy

The index for all items less food and energy increased 0.1 percent in September. Among the index’s components, prices were 0.4 percent higher for shelter and 0.9 percent higher for education and communication. In contrast, the indexes for recreation (-0.9 percent), household furnishings and operations (-0.2 percent), and car and truck rental were lower over the month.

Over the year, the index for all items less food and energy increased 1.2 percent. A 2.4 percent annual increase in shelter costs was the major contributing factor. The index for education and communication rose 3.0 percent from last September and also contributed.

____________

The October 2014 Consumer Price Index for Chicago is scheduled to be released on November 20, 2014, at 7:30 a.m. (CT).


Table A. Percent Changes in the CPI-U, Chicago-Gary-Kenosha (not seasonally adjusted)
Expenditure Category Percent changes from preceding month 12 mo. ended Sep. '14
2014
Mar. Apr. May Jun. Jul. Aug. Sep.

All items

1.1 0.5 -0.1 0.4 -0.4 0.1 0.0 2.1

Food & beverages

0.3 0.2 0.5 -0.1 -0.1 0.5 0.6 4.3

Food

0.3 0.3 0.7 -0.1 0.0 0.4 0.6 4.5

Housing

1.4 0.7 -0.5 0.7 0.4 -0.1 -0.2 3.7

Apparel

1.7 -1.4 0.2 -2.6 -3.7 4.3 0.2 -5.1

Transportation

3.1 1.4 -0.2 1.2 -2.9 -1.5 -0.3 -1.3

Medical care

0.2 0.1 0.0 -0.2 0.6 0.3 0.1 2.2

Recreation

-0.2 -0.7 1.0 0.2 0.2 0.0 -0.9 -1.3

Education & communication

0.0 0.4 0.1 0.2 -0.1 0.5 0.9 3.0

Other goods & services

0.3 -0.2 -0.3 0.4 0.1 0.0 0.3 1.0

Special Indexes

Energy

11.7 4.2 -4.0 3.8(R) -3.2 -3.0 -1.4 6.9

All items less food & energy

0.1 0.1 0.2 0.1 -0.2 0.4 0.1 1.2

Footnotes:
(R) Revised.

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 Chicago-Gary-Kenosha, Ill.-Ind.-Wis. consolidated area covered in this release is comprised of Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will Counties in Illinois; Lake and Porter Counties in Indiana; and Kenosha County in Wisconsin.

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

Chicago-Gary-Kenosha, IL-IN-WI (1982-84=100 unless otherwise noted)
Item and Group

Indexes
Percent change from-
Jul.
2014
Aug.
2014
Sep.
2014
Sep.
2013
Jul.
2014
Aug.
2014

Expenditure category

All items

229.633 229.753 229.829 2.1 0.1 0.0

All items (1967=100)

686.047 686.408 686.633 - - -

Food and beverages

236.348 237.423 238.733 4.3 1.0 0.6

Food

235.736 236.640 238.065 4.5 1.0 0.6

Food at home

234.849 236.376 237.160 4.5 1.0 0.3

Food away from home

231.642 231.642 233.945 4.4 1.0 1.0

Alcoholic beverages

243.723 247.330 246.914 2.0 1.3 -0.2

Housing

231.734 231.602 231.219 3.7 -0.2 -0.2

Shelter

281.554 282.484 283.560 2.4 0.7 0.4

Rent of primary residence (1)

294.758 296.159 298.885 2.9 1.4 0.9

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

285.784 286.603 288.145 1.8 0.8 0.5

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

285.784 286.603 288.145 1.8 0.8 0.5

Fuels and utilities

221.793 217.919 210.419 17.5 -5.1 -3.4

Household energy

192.326 188.215 180.259 20.5 -6.3 -4.2

Energy services (1)

196.218 191.953 183.774 20.8 -6.3 -4.3

Electricity (1)

162.736 164.449 166.303 30.5 2.2 1.1

Utility (piped) gas service (1)

224.066 211.934 190.650 10.9 -14.9 -10.0

Household furnishings and operations

98.144 97.203 97.006 -2.4 -1.2 -0.2

Apparel

91.556 95.480 95.678 -5.1 4.5 0.2

Transportation

203.189 200.133 199.520 -1.3 -1.8 -0.3

Private transportation

200.217 197.286 197.417 -0.9 -1.4 0.1

Motor fuel

331.359 318.996 322.832 -2.5 -2.6 1.2

Gasoline (all types)

327.852 315.586 319.414 -2.7 -2.6 1.2

Gasoline, unleaded regular (3)

321.346 309.435 312.987 -2.8 -2.6 1.1

Gasoline, unleaded midgrade (3) (4)

346.506 332.780 337.551 -1.8 -2.6 1.4

Gasoline, unleaded premium (3)

320.862 308.619 313.442 -1.9 -2.3 1.6

Medical care

450.545 451.769 452.421 2.2 0.4 0.1

Recreation (5)

109.969 110.018 109.036 -1.3 -0.8 -0.9

Education and communication (5)

141.401 142.154 143.498 3.0 1.5 0.9

Other goods and services

384.356 384.271 385.599 1.0 0.3 0.3

Commodity and service group

All items

229.633 229.753 229.829 2.1 0.1 0.0

Commodities

174.316 174.380 174.966 0.5 0.4 0.3

Commodities less food & beverages

141.636 141.257 141.510 -2.0 -0.1 0.2

Nondurables less food & beverages

192.269 191.869 193.042 -1.8 0.4 0.6

Durables

93.230 92.873 92.257 -2.9 -1.0 -0.7

Services

282.051 282.225 281.818 3.1 -0.1 -0.1

Special aggregate indexes

All items less medical care

220.195 220.267 220.317 2.1 0.1 0.0

All items less shelter

212.372 212.208 211.929 1.9 -0.2 -0.1

Commodities less food

145.587 145.313 145.549 -1.9 0.0 0.2

Nondurables

215.885 216.186 217.440 1.2 0.7 0.6

Nondurables less food

196.186 196.000 197.094 -1.7 0.5 0.6

Services less rent of shelter (2)

297.348 296.722 294.713 3.7 -0.9 -0.7

Services less medical care services

269.227 269.303 268.951 3.3 -0.1 -0.1

Energy

245.995 238.682 235.329 6.9 -4.3 -1.4

All items less energy

229.879 230.710 231.113 1.7 0.5 0.2

All items less food and energy

229.635 230.456 230.671 1.2 0.5 0.1

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.