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16-1502-PHI
Friday, July 15, 2016

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Consumer Price Index, Philadelphia-Wilmington-Atlantic City – June 2016

Area prices up 0.3 percent since April and 0.1 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Philadelphia-Wilmington-Atlantic City increased 0.3 percent over the last two months, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Sheila Watkins noted that the recent increase reflected higher prices for energy (3.5 percent) and food (0.2 percent). The all items less food and energy index was unchanged since April.  (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 inched up 0.1 percent. (See chart 1 and table A.) A 1.2-percent increase in the all items less food and energy index was partially offset by an 8.6-percent drop in the energy index since June 2015. Food prices also decreased over the year, down 1.1 percent. (See table 1.)

Food

After decreasing 1.0 percent from February to April, the food index edged up 0.2 percent over the last two months. Prices for food away from home increased 0.8 percent, while those for food at home edged down 0.2 percent since April. Within the food at home component, lower prices for various items including canned fruits and vegetables and uncooked beef roasts were moderated by higher prices for citrus fruits and carbonated drinks, among others.

The food index decreased 1.1 percent over the year. Prices for food at home declined 2.4 percent, while those for food away from home increased 0.9 percent since last June.

Energy

The energy index, which includes prices for household and transportation fuels, increased 3.5 percent since April. This was due mostly to higher prices for gasoline, up 7.4 percent over the last two months. Prices for electricity also increased since April, up 0.9 percent, while those for utility (piped) gas service decreased, down 0.5 percent.

Energy prices fell 8.6 percent since June 2015, due largely to a 14.7-percent drop in gasoline prices. Electricity and utility (piped) gas service prices were also lower, down 1.6 and 4.5 percent, respectively, over the year.

All items less food and energy

The index for all items less food and energy was unchanged from April to June. Higher prices for shelter (0.5 percent), among others, were offset by several price declines including a seasonal decrease in apparel prices (-3.3 percent) and lower prices for used cars and trucks.

Since June 2015, the index for all items less food and energy rose 1.2 percent. Over-the-year price increases for shelter (1.1 percent), medical care (3.5 percent), and apparel (8.4 percent) contributed to the rise. Lower prices for recreation (-2.1 percent), among others, helped to moderate the increase in the all items less food and energy index since last June.

Table A. Philadelphia CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2012 2013 2014 2015 2016
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

0.7 2.2 0.7 1.8 0.5 1.0 -0.2 -0.1 0.3 0.3

April

0.8 2.0 0.1 1.1 0.5 1.4 0.5 0.0 0.9 0.6

June

-0.2 1.3 0.3 1.5 0.6 1.8 0.8 0.2 0.3 0.1

August

0.9 1.4 0.5 1.1 0.0 1.3 -0.5 -0.3    

October

0.4 2.2 -0.4 0.3 -0.1 1.6 -0.3 -0.5    

December

-0.9 1.8 0.1 1.2 -0.8 0.6 -0.6 -0.2    

The Consumer Price Index for August 2016 is scheduled to be released Friday, September 16, 2016 at 8:30 am (ET).


Technical Note

The Consumer Price Index for Philadelphia-Wilmington-Atlantic City is published bi-monthly. 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 approximately 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 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/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 Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md., Consolidated Metropolitan Statistical Area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.

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, Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md., (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
 
Historical
data
Apr.
2016
May
2016
Jun.
2016
Jun.
2015
Apr.
2016
May
2016

All items

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245.300   245.980 0.1 0.3  

All items (1967 = 100)

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708.658   710.623      
 

Food and beverages

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230.838   231.574 -0.8 0.3  

Food

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230.833   231.356 -1.1 0.2  

Food at home

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239.473 237.952 239.034 -2.4 -0.2 0.5

Food away from home

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213.825   215.596 0.9 0.8  

Alcoholic beverages

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227.954   231.172 2.7 1.4  
 

Housing

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250.128   251.724 0.4 0.6  

Shelter

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309.940 310.588 311.558 1.1 0.5 0.3

Rent of primary residence (1)

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288.940 289.531 290.258 0.4 0.5 0.3

Owners' equivalent rent of residences (1) (2) (3)

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318.611 319.572 320.517 1.2 0.6 0.3

Owners' equivalent rent of primary residence (1) (2) (3)

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318.611 319.572 320.517 1.2 0.6 0.3

Fuels and utilities

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199.004   200.748 -2.2 0.9  

Household energy

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165.555 165.400 167.357 -3.4 1.1 1.2

Gas (piped) and electricity (1)

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179.765 178.756 180.599 -2.3 0.5 1.0

Electricity (1)

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191.220 190.158 192.870 -1.6 0.9 1.4

Utility (piped) gas service (1)

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148.295 147.441 147.568 -4.5 -0.5 0.1

Household furnishings and operations

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115.090   116.677 -2.1 1.4  
 

Apparel

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112.710   108.985 8.4 -3.3  
 

Transportation

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202.730   203.654 -3.5 0.5  

Private transportation

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198.933   200.824 -3.9 1.0  

Motor fuel

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192.577 207.217 206.859 -14.7 7.4 -0.2

Gasoline (all types)

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189.998 204.470 204.082 -14.7 7.4 -0.2

Gasoline, unleaded regular (4)

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186.848 201.491 201.027 -15.5 7.6 -0.2

Gasoline, unleaded midgrade (4) (5)

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198.353 211.179 211.069 -11.8 6.4 -0.1

Gasoline, unleaded premium (4)

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195.686 208.777 208.826 -10.9 6.7 0.0
 

Medical care

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511.726   511.229 3.5 -0.1  
 

Recreation (6)

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122.753   122.821 -2.1 0.1  
 

Education and communication (6)

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133.127   133.014 -0.2 -0.1  
 

Other goods and services

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512.278   514.410 0.5 0.4  
 

Commodity and service group

 

Commodities

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175.165   176.061 -1.7 0.5  

Commodities less food and beverages

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144.352   145.264 -2.5 0.6  

Nondurables less food and beverages

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179.263   180.844 -1.9 0.9  

Durables

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105.009   105.290 -3.2 0.3  

Services

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316.549   317.053 1.1 0.2  
 

Special aggregate indexes

 

All items less shelter

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224.416   224.753 -0.5 0.2  

All items less medical care

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234.072   234.807 -0.2 0.3  

Commodities less food

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147.338   148.322 -2.3 0.7  

Nondurables

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205.930   207.150 -1.3 0.6  

Nondurables less food

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182.108   183.787 -1.6 0.9  

Services less rent of shelter (2)

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330.752   330.012 0.9 -0.2  

Services less medical care services

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301.975   302.579 1.0 0.2  

Energy

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175.523 180.580 181.727 -8.6 3.5 0.6

All items less energy

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254.839   254.922 0.9 0.0  

All items less food and energy

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261.519   261.529 1.2 0.0  

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) Indexes on a December 1982=100 base.
(3) This index series underwent a change in composition in January 2010. The expenditure class now includes weight from secondary residences, and has been re-titled "Owners' equivalent rent of residences." The item stratum "Owners' equivalent rent of primary residence" excludes secondary residences.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.
(6) Indexes on a December 1997=100 base.

Note: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Friday, July 15, 2016