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16-1703-NEW
Tuesday, August 16, 2016

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Consumer Price Index, New York-Northern New Jersey – July 2016

Area prices down 0.1 percent over the month and up 1.0 percent over the year

Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), inched down 0.1 percent in July after six consecutive months of increases, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the decline primarily to lower prices for energy. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the year, the CPI-U was up 1.0 percent. (See table A.) The index for all items less food and energy increased 2.0 percent. (See chart 1.) Higher prices for shelter drove the 12-month change in both indexes. (See table 1.)

 

Food

The food index ticked down 0.1 percent, following a 0.1-percent increase in June. Prices for food at home declined 0.5 percent. Items with lower prices included lettuce and pork chops. Prices for food away from home rose 0.5 percent.

Over the year, the food index rose 0.5 percent, as a 3.5-percent increase for away-from-home food prices was moderated by a 1.6-percent decline in at-home food prices.

Energy

The energy index fell 1.1 percent in July, reflecting a 3.2-percent decrease in gasoline prices. Fuel oil prices also declined, while electricity prices remained unchanged. Natural gas prices increased 0.6 percent.

From July 2015 to July 2016, energy prices fell 9.8 percent. Gasoline prices dropped 18.3 percent and household energy prices declined 3.5 percent. Within the household energy category, electricity prices fell 2.6 percent, but natural gas prices rose 2.3 percent.

All items less food and energy

The index for all items less food and energy was unchanged in July. Prices advanced for shelter (0.4 percent) and for medical care (1.2 percent). Within shelter, prices rose 0.3 percent for residential rent and 0.1 percent for owners’ equivalent rent. Offsetting the increases were lower prices for airline fares, recreation (-0.8 percent), and apparel (-1.1 percent).

For the year ended in July 2016, the index for all items less food and energy increased 2.0 percent. Shelter prices rose 3.1 percent, reflecting a 3.5-percent increase in residential rent and a 2.9-percent rise in owners’ equivalent rent. Medical care prices advanced 6.1 percent, and prices for other goods and services rose 3.0 percent.

Table A. New York-Northern New Jersey-Long Island CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2011 2012 2013 2014 2015 2016
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

0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9 0.1 -0.5 0.2 0.8

February

0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1 0.3 0.1 0.2 0.6

March

0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3 0.2 -0.1 0.2 0.7

April

0.4 2.5 0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0

May

0.6 2.9 0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1 0.3 0.9

June

0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7 0.2 0.1 0.3 1.0

July

0.3 3.3 -0.2 1.1 0.2 2.1 0.1 1.6 -0.1 -0.1 -0.1 1.0

August

0.4 3.5 0.6 1.4 0.1 1.7 -0.2 1.3 0.1 0.1    

September

0.2 3.8 0.4 1.6 0.3 1.6 0.0 1.0 0.2 0.3    

October

-0.2 3.3 -0.1 1.7 -0.6 1.1 -0.2 1.3 -0.1 0.4    

November

-0.3 3.0 0.0 2.0 0.1 1.2 -0.4 0.8 -0.2 0.6    

December

-0.4 2.7 -0.3 2.1 0.0 1.5 -0.5 0.3 -0.4 0.7    

CPI-W

In July, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 258.211, down 0.1 percent over the month. The CPI-W rose 0.8 percent over the year.

The August 2016 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Friday, September 16, 2016, 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 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 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/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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

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, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
May
2016
June
2016
July
2016
July
2015
May
2016
June
2016
 

Expenditure category

 
 

All items

263.310 264.022 263.868 1.0 0.2 -0.1

All items (1967=100)

761.192 763.251 762.804      
 

Food and beverages

256.937 256.971 256.924 0.5 0.0 0.0

Food

256.749 256.950 256.755 0.5 0.0 -0.1

Food at home

250.536 250.577 249.377 -1.6 -0.5 -0.5

Food away from home

272.376 272.814 274.078 3.5 0.6 0.5

Alcoholic beverages

255.087 252.875 254.813 0.5 -0.1 0.8
 

Housing

283.325 285.090 285.748 2.1 0.9 0.2

Shelter

358.177 359.395 360.664 3.1 0.7 0.4

Rent of primary residence (1)

370.558 370.763 371.871 3.5 0.4 0.3

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

364.215 365.735 366.273 2.9 0.6 0.1

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

363.763 365.279 365.812 2.9 0.6 0.1

Fuels and utilities

175.645 183.803 184.064 -2.7 4.8 0.1

Household energy

166.526 175.657 175.938 -3.5 5.7 0.2

Energy services (1)

162.085 171.899 172.243 -1.3 6.3 0.2

Electricity (1)

170.876 185.830 185.910 -2.6 8.8 0.0

Utility (piped) gas service (1)

137.816 138.137 138.919 2.3 0.8 0.6

Household furnishings and operations

112.821 111.832 110.614 -2.5 -2.0 -1.1
 

Apparel

128.550 122.904 121.576 -3.1 -5.4 -1.1
 

Transportation

212.896 213.339 210.150 -4.3 -1.3 -1.5

Private transportation

196.689 196.811 195.538 -4.8 -0.6 -0.6

Motor fuel

181.596 185.700 179.746 -18.3 -1.0 -3.2

Gasoline (all types)

180.927 184.987 179.021 -18.3 -1.1 -3.2

Gasoline, unleaded regular (3)

179.255 183.416 177.012 -19.1 -1.3 -3.5

Gasoline, unleaded midgrade (3) (4)

192.150 195.673 191.900 -15.1 -0.1 -1.9

Gasoline, unleaded premium (3)

194.316 197.842 194.696 -13.8 0.2 -1.6
 

Medical care

461.351 466.843 472.391 6.1 2.4 1.2
 

Recreation (5)

119.668 119.915 118.985 -0.1 -0.6 -0.8
 

Education and communication (5)

142.858 142.978 143.003 1.6 0.1 0.0
 

Other goods and services

414.242 414.894 416.559 3.0 0.6 0.4
 

Commodity and service group

 
 

All items

263.310 264.022 263.868 1.0 0.2 -0.1

Commodities

186.401 185.732 184.711 -2.5 -0.9 -0.5

Commodities less food and beverages

143.100 142.144 140.731 -5.1 -1.7 -1.0

Nondurables less food and beverages

177.930 177.189 174.843 -6.0 -1.7 -1.3

Durables

97.898 96.803 96.416 -3.2 -1.5 -0.4

Services

328.553 330.333 330.834 2.7 0.7 0.2
 

Special aggregate indexes

 
 

All items less medical care

254.694 255.206 254.815 0.7 0.0 -0.2

All items less shelter

225.777 226.286 225.552 -0.3 -0.1 -0.3

Commodities less food

147.341 146.341 145.025 -4.8 -1.6 -0.9

Nondurables

218.921 218.540 217.259 -2.4 -0.8 -0.6

Nondurables less food

182.627 181.799 179.701 -5.6 -1.6 -1.2

Services less rent of shelter (2)

307.033 309.468 309.160 2.1 0.7 -0.1

Services less medical care services

317.912 319.635 319.755 2.3 0.6 0.0

Energy

174.573 181.925 179.845 -9.8 3.0 -1.1

All items less energy

273.722 273.819 273.843 1.8 0.0 0.0

All items less food and energy

278.529 278.609 278.670 2.0 0.1 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) 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.
 

Note: Index applies to a month as a whole, not to any specific date.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven, and Middlesex Counties in Connecticut; and Pike County in Pennsylvania.
 

 

Last Modified Date: Tuesday, August 16, 2016