Southwest Information Office

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14-1654-DAL

Wednesday, September 17, 2014

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Further information:

Consumer Price Index, South Region – August 2014

Prices in the South down 0.2 percent over the month; up 1.7 percent over the year


The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged down 0.2 percent in August, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that the energy index declined 2.9 percent over the month. The all items less food and energy index inched up 0.1 percent in August as increases in shelter, and education and communication prices were largely offset by a decrease in recreation prices. The food index increased 0.4 percent over the month. (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. Over-the-year percent change in CPI for All Urban Consumers (CPI-U), South region, August 2011–August 2014


Food

The food index rose 0.4 percent in August. Prices for food at home and food away from home increased 0.5 and 0.2 percent, respectively.

Since August 2013, the food index advanced 2.3 percent, reflecting higher prices for both food at home (2.4 percent) and food away from home (2.2 percent).

Energy

The energy index declined 2.9 percent over the month, led by a 4.7-percent drop in motor fuel prices. Prices for utility (piped) gas service decreased 2.7 percent and electricity prices edged down 0.2 percent.

Over the year, energy prices edged down 0.2 percent, as a 3.3-percent price decrease in motor fuel prices was largely offset by price increases for electricity (3.9 percent) and utility (piped) gas service (4.7 percent).

All items less food and energy

The all items less food and energy index inched up 0.1 percent in August as price increases were noted for shelter, and education and communication, up 0.2 and 0.7 percent, respectively. These advances were largely offset by a 0.6-percent decline in recreation prices.

Since August 2013, the all items less food and energy index advanced 1.8 percent, led by price increases for shelter (3.2 percent) and medical care (2.0 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 - -

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 - -
_______________________
The September 2014 Consumer Price Index for the South region is scheduled to be released on Wednesday, October 22, 2014 at 7:30 a.m. (CT).





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 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/pdf/homch17.pdf.

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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.



Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, South Region (1982-84=100 unless otherwise noted)
Item and Group

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

Expenditure category

All Items

232.269 232.013 231.611 1.7 -0.3 -0.2

All items (December 1977=100)

376.772 376.357 375.705

Food and beverages

241.278 241.320 242.188 2.2 0.4 0.4

Food

242.549 242.637 243.595 2.3 0.4 0.4

Food at home

238.549 238.328 239.635 2.4 0.5 0.5

Food away from home

251.352 251.896 252.353 2.2 0.4 0.2

Alcoholic beverages

222.903 222.315 221.932 0.1 -0.4 -0.2

Housing

217.915 218.435 218.657 2.8 0.3 0.1

Shelter

243.291 243.994 244.437 3.2 0.5 0.2

Rent of primary residence (1)

247.610 248.352 248.868 3.3 0.5 0.2

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

245.575 246.161 246.947 2.9 0.6 0.3

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

245.576 246.160 246.947 2.9 0.6 0.3

Fuels and utilities

240.756 241.330 240.622 3.7 -0.1 -0.3

Household energy

203.157 203.523 202.457 4.0 -0.3 -0.5

Energy services (1)

202.999 203.393 202.315 4.0 -0.3 -0.5

Electricity (1)

201.277 201.889 201.483 3.9 0.1 -0.2

Utility (piped) gas service (1)

197.401 196.345 190.984 4.7 -3.3 -2.7

Household furnishings and operations

122.821 122.673 122.775 -1.7 0.0 0.1

Apparel

134.771 131.768 131.830 -2.3 -2.2 0.0

Transportation

223.584 222.030 218.549 -0.2 -2.3 -1.6

Private transportation

221.264 220.385 217.161 -0.2 -1.9 -1.5

New and used motor vehicles (3)

103.481 103.500 103.794 0.6 0.3 0.3

New vehicles

152.564 152.197 152.785 0.8 0.1 0.4

New cars and trucks (3) (4)

103.841 103.586 103.992 0.8 0.1 0.4

New cars (4)

155.174 154.568 154.191 0.1 -0.6 -0.2

Used cars and trucks

150.544 151.454 151.912 0.1 0.9 0.3

Motor fuel

313.227 309.457 294.814 -3.3 -5.9 -4.7

Gasoline (all types)

311.741 307.942 293.183 -3.4 -6.0 -4.8

Unleaded regular (4)

309.644 305.743 290.648 -3.6 -6.1 -4.9

Unleaded midgrade (4) (5)

326.600 322.901 308.751 -2.9 -5.5 -4.4

Unleaded premium (4)

312.239 309.108 296.237 -2.5 -5.1 -4.2

Medical Care

414.855 415.471 415.472 2.0 0.1 0.0

Medical care commodities

330.137 331.431 332.789 3.0 0.8 0.4

Medical care services

443.651 443.960 443.374 1.7 -0.1 -0.1

Professional services

352.396 352.060 352.442 1.1 0.0 0.1

Recreation (3)

116.759 116.065 115.344 -0.2 -1.2 -0.6

Education and communication (3)

134.042 134.323 135.248 2.0 0.9 0.7

Other goods and services

400.674 400.736 400.864 1.9 0.0 0.0

Commodity and Service Group

All Items

232.269 232.013 231.611 1.7 -0.3 -0.2

Commodities

191.940 191.107 190.079 -0.1 -1.0 -0.5

Commodities less food & beverages

167.021 165.862 164.104 -1.4 -1.7 -1.1

Nondurables less food & beverages

224.460 222.243 218.263 -1.4 -2.8 -1.8

Nondurables less food, beverages, and apparel

279.237 277.427 271.086 -1.1 -2.9 -2.3

Durables

113.510 113.270 113.421 -1.4 -0.1 0.1

Services

273.404 273.702 273.900 2.9 0.2 0.1

Rent of shelter (2)

249.656 250.345 250.779 3.2 0.4 0.2

Transportation services

306.526 303.507 302.795 2.8 -1.2 -0.2

Other services

325.259 325.455 326.112 2.1 0.3 0.2

Special aggregate indexes:

All items less medical care

221.990 221.700 221.285 1.6 -0.3 -0.2

All items less food

230.449 230.141 229.531 1.5 -0.4 -0.3

All items less shelter

229.366 228.711 227.957 1.0 -0.6 -0.3

Commodities less food

168.885 167.738 166.013 -1.4 -1.7 -1.0

Nondurables

233.020 231.846 230.107 0.3 -1.3 -0.8

Nondurables less food

224.156 222.031 218.253 -1.3 -2.6 -1.7

Nondurables less food and apparel

273.091 271.393 265.587 -1.1 -2.7 -2.1

Services less rent of shelter (2)

311.867 311.678 311.581 2.6 -0.1 0.0

Services less medical care services

257.891 258.183 258.424 3.0 0.2 0.1

Energy

249.059 247.539 240.328 -0.2 -3.5 -2.9

All items less energy

231.113 230.998 231.359 1.9 0.1 0.2

All items less food and energy

229.503 229.353 229.610 1.8 0.0 0.1

Commodities less food and energy commodities

149.511 148.732 148.860 -0.7 -0.4 0.1

Energy commodities

317.397 313.615 299.000 -3.2 -5.8 -4.7

Services less energy services

280.605 280.892 281.234 2.8 0.2 0.1

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

Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

Last Modified Date: September 18, 2014