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Friday, April 17, 2015

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Consumer Price Index, Cleveland-Akron-Lorain – March 2015

Local prices down 0.2 percent over the year

The Cleveland-Akron, Ohio, Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent from January to March, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that food prices fell 0.4 percent and energy costs rose 5.1 percent over the bi-monthly period. The index for all items less food and energy rose 0.7 percent. Within this last category, costs were higher for medical care, apparel, and new and used vehicles over the two-month period. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the past 12 months the Cleveland area all items CPI-U fell 0.2 percent. (See chart 1 and table A.) The energy index declined 21.2 percent from its March 2014 level due to decreases in gasoline prices and utility (piped) gas service costs over the year. The index for all items less food and energy rose 2.1 percent over the past 12 months. (See table 1.)

 Chart 1. Over-the-year percent change in CPI-U, Cleveland

Food

Food prices fell 0.4 percent from January to March following a 1.5-percent increase over the previous bi-monthly period. Between the food index’s two components, prices for food at home (groceries) fell 1.4 percent from January to March while food away from home (restaurant, cafeteria, and vending purchases) rose 0.9 percent during the same period. Over the year, food at home prices were up 0.7 percent while prices for food away from home rose 3.4 percent. Overall food costs rose 1.8 percent from a year ago.

Energy

The energy index rose 5.1 percent from January to March following a 13.3-percent decline over the previous bi-monthly period. In the recent period, increases in costs for gasoline (17.4 percent) and electricity (4.1 percent), were partially offset by a decline in utility (piped) gas service costs (-14.4 percent).

Over the year, the energy index fell 21.2 percent. Annual increases in costs for electricity (9.5 percent), were more than offset by a drop in gasoline prices (-33.4 percent) and a decline in utility (piped) gas service costs (-27.5 percent).

All items less food and energy

The index for all items less food and energy rose 0.7 percent from January to March. Among the index’s components, increases were recorded in costs for medical care (3.6 percent), apparel (6.5 percent), and new and used motor vehicles.

Over the year, the index for all items less food and energy rose 2.1 percent mostly due to a 2.4-percent annual increase in the cost of shelter. Also contributing, but to a lesser extent, were annual gains in costs for medical care (4.3 percent) and apparel (4.9 percent).

Table A. Cleveland CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2011 2012 2013 2014 2015
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

January

0.7 2.2 0.4 2.1 0.2 1.5 0.3 1.1 -0.7 0.5

March

0.9 2.8 1.3 2.6 0.9 1.0 1.6 1.9 0.9 -0.2

May

1.3 4.0 -0.1 1.1 0.4 1.5 0.2 1.7    

July

-0.2 3.8 0.0 1.4 0.7 2.2 0.5 1.4    

September

0.6 3.7 1.0 1.8 -0.4 0.7 -0.5 1.3    

November

-0.8 2.5 -1.0 1.6 -0.7 1.0 -0.6 1.5    

The May 2015 Consumer Price Index for Cleveland is scheduled to be released on Thursday, June 18, 2015, at 8:30 a.m. (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 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 6,000 housing units and approximately 24,000 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 Cleveland-Akron, Ohio consolidated area covered in this release is comprised of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage, and Summit 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 and percent changes for selected periods

Cleveland-Akron, OH (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Jan.
2015
Feb.
2015
Mar.
2015
Mar.
2014
Jan.
2015
Feb.
2015

Expenditure category

 
 

All items

218.536 - 220.444 -0.2 0.9 -

All items (1967=100)

700.291 - 706.407 - - -

Food and beverages

250.539 - 249.586 1.8 -0.4 -

Food

255.913 - 254.798 1.8 -0.4 -

Food at home

250.310 249.408 246.908 0.7 -1.4 -1.0

Food away from home

267.595 - 269.985 3.4 0.9 -

Alcoholic beverages

190.309 - 191.251 1.8 0.5 -

Housing

204.096 - 202.974 1.1 -0.5 -

Shelter

234.256 231.816 233.624 2.4 -0.3 0.8

Rent of primary residence (1)

230.143 230.726 230.833 1.1 0.3 0.0

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

227.434 227.765 227.845 1.7 0.2 0.0

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

227.434 227.765 227.845 1.7 0.2 0.0

Fuels and utilities

203.339 - 198.452 -4.4 -2.4 -

Household energy

170.338 165.400 164.916 -7.3 -3.2 -0.3

Energy services (1)

168.764 163.696 163.179 -7.3 -3.3 -0.3

Electricity (1)

170.446 176.175 177.425 9.5 4.1 0.7

Utility (piped) gas service (1)

148.462 129.900 127.142 -27.5 -14.4 -2.1

Household furnishings and operations

117.079 - 116.963 -0.8 -0.1 -

Apparel

130.490 - 138.962 4.9 6.5 -

Transportation

189.583 - 197.701 -8.7 4.3 -

Private transportation

190.562 - 198.987 -8.9 4.4 -

Motor fuel

206.866 227.187 242.729 -33.4 17.3 6.8

Gasoline (all types)

204.508 224.640 240.018 -33.4 17.4 6.8

Gasoline, unleaded regular (3)

195.233 215.622 230.223 -34.2 17.9 6.8

Gasoline, unleaded midgrade (3) (4)

215.894 234.153 250.919 -31.7 16.2 7.2

Gasoline, unleaded premium (3)

211.957 228.631 244.336 -29.7 15.3 6.9

Medical care

402.818 - 417.493 4.3 3.6 -

Recreation (5)

116.899 - 115.674 0.8 -1.0 -

Education and communication (5)

124.829 - 125.219 -0.1 0.3 -

Other goods and services

408.323 - 409.557 1.6 0.3 -
 

Commodity and service group

 
 

All items

218.536 - 220.444 -0.2 0.9 -

Commodities

187.007 - 190.348 -2.8 1.8 -

Commodities less food & beverages

155.013 - 159.984 -5.4 3.2 -

Nondurables less food & beverages

196.538 - 206.968 -8.8 5.3 -

Durables

109.173 - 109.692 -0.4 0.5 -

Services

250.640 - 251.302 1.6 0.3 -
 

Special aggregate indexes

 
 

All items less medical care

210.069 - 211.423 -0.6 0.6 -

All items less shelter

214.204 - 217.180 -1.4 1.4 -

Commodities less food

156.435 - 161.293 -5.2 3.1 -

Nondurables

223.956 - 229.003 -3.6 2.3 -

Nondurables less food

195.866 - 205.654 -8.2 5.0 -

Services less rent of shelter (2)

273.736 - 276.003 0.7 0.8 -

Services less medical care services

239.597 - 238.991 1.4 -0.3 -

Energy

185.717 189.925 195.276 -21.2 5.1 2.8

All items less energy

223.729 - 224.912 2.1 0.5 -

All items less food and energy

218.248 - 219.806 2.1 0.7 -

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.
 

 

Last Modified Date: Friday, April 17, 2015