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15-292-CHI
Thursday, February 26, 2015

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Consumer Price Index, Cincinnati-Hamilton – Second Half 2014

Local prices up 1.5 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Cincinnati-Hamilton area advanced 1.5 percent from the second half of 2013 to the second half of 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that the all items less food and energy index was 1.9 percent higher compared to its second half 2013 level as price increases were noted for several categories, most notably shelter. Food prices rose 2.4 percent over the year while the index for energy decreased 3.1 percent. (See chart 1.)

 Chart 1.  Over-the-year percent change in CPI-U, Cincinnati, Second half 2011-Second half 2014

Food

Food prices rose 2.4 percent over the year. Within the food category, the index for food at home (groceries) was 2.4 percent higher while prices for food away from home (restaurant, cafeteria, and vending purchases) were up 1.9 percent.

Energy

The energy index fell 3.1 percent from the second half of 2013 to the second half of 2014. Within the energy category, the indexes for electricity and utility (piped) gas service rose 2.0 percent and 7.5 percent, respectively, over the year. The index for gasoline was down 8.5 percent compared to its second half 2013 level.

All items less food and energy

The all items less food and energy index increased 1.9 percent over the year. Among the index’s components, higher costs were recorded for shelter (2.0 percent), medical care (3.4 percent), and recreation (3.2 percent).

The first half 2015 Consumer Price Index for Cincinnati-Hamilton is scheduled to be released Wednesday, August 19, 2015, 8:30am ET.


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 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/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 Cincinnati-Hamilton, Ohio-Ky.-Ind. consolidated area covered in this release is comprised of Dearborn and Ohio Counties in Indiana; Boone, Campbell, Gallatin, Grant, Kenton, and Pendleton Counties in Kentucky; and Brown, Butler, Clermont, Hamilton and Warren Counties in Ohio.

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 for semiannual averages and percent changes for selected periods

Cincinnati-Hamilton, OH-KY-IN (1982-84=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to
2nd half 2014 from-
2nd half
2013
1st half
2014
2nd half
2014
2nd half
2013
1st half
2014

Expenditure category

 
 

All items

221.262 223.680 224.519 1.5 0.4

All items (1967=100)

684.634 692.115 694.713 - -

Food and beverages

213.825 216.670 219.340 2.6 1.2

Food

210.875 213.539 215.995 2.4 1.2

Food at home

208.402 210.195 213.434 2.4 1.5

Food away from home

219.151 222.206 223.400 1.9 0.5

Alcoholic beverages

236.009 241.219 246.780 4.6 2.3

Housing

202.884 202.905 206.092 1.6 1.6

Shelter

230.803 231.220 235.310 2.0 1.8

Rent of primary residence (1)

232.322 233.910 237.857 2.4 1.7

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

232.272 232.806 235.837 1.5 1.3

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

232.272 232.806 235.837 1.5 1.3

Fuels and utilities

220.982 220.651 228.500 3.4 3.6

Household energy

183.408 183.691 189.655 3.4 3.2

Energy services (1)

188.284 187.686 194.709 3.4 3.7

Electricity (1)

190.252 185.672 194.088 2.0 4.5

Utility (piped) gas service (1)

175.009 185.316 188.095 7.5 1.5

Household furnishings and operations

114.968 115.592 112.019 -2.6 -3.1

Apparel

141.214 139.750 138.876 -1.7 -0.6

Transportation

210.176 215.548 209.692 -0.2 -2.7

Private transportation

207.420 212.176 206.193 -0.6 -2.8

Motor fuel

310.158 327.023 284.312 -8.3 -13.1

Gasoline (all types)

308.996 325.409 282.826 -8.5 -13.1

Gasoline, unleaded regular (3)

319.224 336.125 290.872 -8.9 -13.5

Gasoline, unleaded midgrade (3) (4)

298.971 314.508 275.255 -7.9 -12.5

Gasoline, unleaded premium (3)

264.086 278.792 246.999 -6.5 -11.4

Medical care

444.705 456.412 459.784 3.4 0.7

Recreation (5)

122.379 125.330 126.350 3.2 0.8

Education and communication (5)

136.223 135.702 135.904 -0.2 0.1

Other goods and services

459.508 470.000 470.222 2.3 0.0
 

Commodity and service group

 
 

All items

221.262 223.680 224.519 1.5 0.4

Commodities

179.447 182.361 179.315 -0.1 -1.7

Commodities less food & beverages

160.446 163.207 157.909 -1.6 -3.2

Nondurables less food & beverages

205.670 211.184 201.480 -2.0 -4.6

Durables

118.033 118.767 117.150 -0.7 -1.4

Services

266.334 268.306 272.948 2.5 1.7
 

Special aggregate indexes

 
 

All items less medical care

210.976 212.972 213.694 1.3 0.3

All items less shelter

219.377 222.844 222.389 1.4 -0.2

Commodities less food

163.753 166.608 161.543 -1.3 -3.0

Nondurables

211.517 215.814 211.961 0.2 -1.8

Nondurables less food

209.251 214.800 205.847 -1.6 -4.2

Services less rent of shelter (2)

314.206 319.065 324.584 3.3 1.7

Services less medical care services

250.138 251.875 256.580 2.6 1.9

Energy

240.225 247.603 232.658 -3.1 -6.0

All items less energy

221.870 224.093 226.194 1.9 0.9

All items less food and energy

225.275 227.404 229.455 1.9 0.9

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 November 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.
 

 

Last Modified Date: Thursday, February 26, 2015