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16-1861-ATL
Friday, September 16, 2016

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Consumer Price Index, Miami-Fort Lauderdale – August 2016

Area prices unchanged over the two months; up 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami was unchanged over the July-August pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the energy index declined 3.4 percent. Over the two month pricing period, the all items less food and energy index edged up 0.3 percent, while the food index was unchanged. (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 rose 1.6 percent. The index for all items less food and energy advanced 3.0 percent over the year as several categories recorded increases, most notably shelter. (See chart 1 and table 1.)

Food

The food index was unchanged during the July-August pricing period. Prices for food at home edged down 0.2 percent, while prices for food away from home edged up 0.2 percent.

Since August 2015, the food index inched down 0.1 percent. Prices for food at home decreased 1.9 percent, while those for food away from home increased 2.6 percent over the year.

Energy

The energy index declined 3.4 percent during the two month pricing period, led by a 6.4-percent decrease in motor fuel prices. During this same period, prices for utility (piped) gas service declined 1.5 percent, while prices for electricity were unchanged.

Over the year, the energy index fell 9.6 percent, led by a 12.9-percent drop in motor fuel prices. Since August 2015, prices for electricity and utility (piped) gas service declined, 6.5 and 6.2 percent, respectively.

All items less food and energy

The index for all items less food and energy edged up 0.3 percent during the July-August pricing period. Prices increases for shelter (0.8 percent) and medical care (1.1 percent), were partially offset by price declines for education and communication (1.1 percent) and recreation (1.0 percent).

Since August 2015, the index for all items less food and energy advanced 3.0 percent, reflecting price increases in the shelter and medical care indexes, up 4.4 and 3.4 percent respectively. The apparel index declined 9.9 percent over the year.

Table A. Miami 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

1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4 0.2 1.6

April

0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5 0.7 1.4

June

-0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2 0.6 1.6

August

0.9 1.4 -0.2 0.6 -0.1 2.4 0.0 1.3 0.0 1.6

October

0.3 2.0 0.6 0.9 0.4 2.2 0.2 1.1    

December

-0.7 1.4 0.2 1.9 -0.6 1.4 -0.1 1.6    

The Consumer Price Index for September 2016 is scheduled to be released on Tuesday, October 18, 2016.


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/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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.

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
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Jun.
2016
Jul.
2016
Aug.
2016
Aug.
2015
Jun.
2016
Jul.
2016

Expenditure category

 
 

All Items

250.208 - 250.188 1.6 0.0 -

All items (November 1977=100)

403.300 - 403.268 - - -

Food and beverages

259.448 - 259.169 -0.1 -0.1 -

Food

261.904 - 261.781 -0.1 0.0 -

Food at home

255.640 253.556 255.164 -1.9 -0.2 0.6

Food away from home

274.855 - 275.274 2.6 0.2 -

Alcoholic beverages

226.385 - 223.882 0.7 -1.1 -

Housing

253.858 - 255.648 3.2 0.7 -

Shelter

289.869 290.560 292.120 4.4 0.8 0.5

Rent of primary residence (1)

283.840 285.458 287.412 4.9 1.3 0.7

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

290.861 291.925 293.439 4.0 0.9 0.5

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

290.861 291.925 293.439 4.0 0.9 0.5

Fuels and utilities

163.549 - 163.470 -4.6 0.0 -

Household energy

139.687 139.621 139.598 -6.6 -0.1 0.0

Energy services (1)

137.019 136.958 136.950 -6.5 -0.1 0.0

Electricity (1)

133.734 133.734 133.734 -6.5 0.0 0.0

Utility (piped) gas service (1)

192.324 189.784 189.436 -6.2 -1.5 -0.2

Household furnishings and operations

160.004 - 161.416 0.8 0.9 -

Apparel

138.735 - 136.498 -9.9 -1.6 -

Transportation

218.605 - 214.685 1.0 -1.8 -

Private transportation

221.786 - 218.278 1.0 -1.6 -

Motor fuel

213.481 205.261 199.814 -12.9 -6.4 -2.7

Gasoline (all types)

211.061 202.902 197.504 -12.9 -6.4 -2.7

Unleaded regular (3)

207.874 199.432 193.749 -13.4 -6.8 -2.8

Unleaded midgrade (3) (4)

209.804 202.345 199.859 -9.6 -4.7 -1.2

Unleaded premium (3)

227.600 222.644 219.607 -9.3 -3.5 -1.4

Medical Care

467.806 - 472.817 3.4 1.1 -

Recreation (5)

117.435 - 116.312 1.6 -1.0 -

Education and communication (5)

128.026 - 126.636 -1.0 -1.1 -

Other goods and services

342.230 - 343.741 1.1 0.4 -
 

Commodity and service group

 
 

All Items

250.208 - 250.188 1.6 0.0 -

Commodities

199.130 - 197.084 -2.4 -1.0 -

Commodities less food & beverages

162.968 - 160.029 -4.3 -1.8 -

Nondurables less food & beverages

192.523 - 186.839 -6.8 -3.0 -

Durables

132.063 - 132.800 0.5 0.6 -

Services

289.715 - 291.092 3.6 0.5 -
 

Special aggregate indexes

 
 

All items less medical care

240.749 - 240.553 1.4 -0.1 -

All items less shelter

229.351 - 228.113 -0.3 -0.5 -

Commodities less food

165.442 - 162.513 -4.2 -1.8 -

Nondurables

228.019 - 224.895 -3.0 -1.4 -

Nondurables less food

194.667 - 189.161 -6.4 -2.8 -

Services less rent of shelter (2)

297.689 - 297.782 2.4 0.0 -

Services less medical care services

275.956 - 276.956 3.5 0.4 -

Energy

172.662 169.093 166.740 -9.6 -3.4 -1.4

All items less energy

258.992 - 259.695 2.5 0.3 -

All items less food and energy

258.377 - 259.223 3.0 0.3 -

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.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Friday, September 16, 2016