Western Information Office


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14-1560-SAN

Tuesday, August 19, 2014

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Consumer Price Index, Portland – First Half 2014

Area prices up 1.0 percent over the past six months, up 2.6 percent from a year ago

Prices in the greater Portland area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.0 percent in the first half of 2014, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that this latest six-month increase was influenced by higher prices for shelter, electricity, and food. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)

Over the past 12 months, the CPI-U rose 2.6 percent. (See chart 1.) Energy prices advanced1.4 percent, mainly due to an increase in the price of electricity. The index for all items less food and energy increased 2.7 percent over the year.

Chart 1. Over-the-year percent change in CPI-U, Portland, Second half of 2010  First half of 2014

Food

Food prices advanced 1.1 percent in the first half of 2014. (See table 1.) Prices for food at home rose 1.5 percent for the past six months. Prices for food away from home increased 0.5 percent for the same period.

For the year ending in the first half of 2014, food prices rose 2.9 percent. Prices for food away from home advanced 3.7 percent during the past 12 months, and prices for food at home increased 1.8 percent.

Energy

Energy prices rose 3.0 percent since the second half of 2013. Prices for electricity posted the largest increase (7.2 percent), followed by prices for gasoline (1.4 percent) and prices for natural gas service (0.6 percent).

Energy prices increased 1.4 percent over the year. Prices for electricity advanced 8.0 percent and natural gas service prices increased 0.9 percent. Gasoline prices moved down 1.7 percent during the same period.