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15-301-SAN
Thursday, February 26, 2015

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Consumer Price Index, Honolulu – Second Half 2014

Area prices were up 1.3 percent over the past six months, up 1.8 percent from a year ago

Prices in the Honolulu Area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.3 percent in the second half of 2014, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that the January increase was influenced by higher prices for shelter and food. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U rose 1.8 percent.  (See chart 1 and table A.) The energy index was unchanged as higher electricity prices largely offset lower gasoline prices. The index for all items less food and energy advanced 1.7 percent over the year. (See table 1.)

 Chart 1. Over-the-year percent change in CPI-U, Honolulu, First half of 2011 – Second half 2014

 

Food

Food prices rose 2.5 percent in the second half of 2014. (See table 1.) Prices for food at home advanced 2.4 percent, and prices for food away from home advanced 2.4 percent for the same period.

Over the year, food prices increased 3.2 percent. Prices for food at home rose 4.1 percent since a year ago, and prices for food away from home advanced 3.0 percent.

Energy

The energy index decreased 2.5 percent since the first half of 2014. The decrease was mainly due to lower prices for gasoline (-4.0 percent). Prices for natural gas service decreased 3.2 percent, and prices for electricity declined 0.6 percent for the same period.

Energy prices were unchanged over the year. Prices paid for gasoline declined 2.6 percent, while electricity prices rose 2.4 percent and natural gas prices advanced 2.2 percent.

All items less food and energy

The index for all items less food and energy advanced 1.4 percent in the latest six-month period. Higher prices for other goods and services (3.5 percent), education and communication (2.1 percent), and shelter (1.8 percent) were partially offset by lower prices for apparel (-2.0 percent).

Over the year, the index for all items less food and energy advanced 1.7 percent. Components contributing to the increase included other goods and services (4.0 percent), education and communication (3.1 percent), and shelter (1.8 percent). Partly offsetting the increases were price declines in apparel (-7.3 percent) and household furnishings and operations (-0.4 percent).

Table A. Honolulu CPI-U semi-annual and annual percent changes (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual

First Half

-1.0 0.3 0.8 2.5 2.5 3.5 1.3 2.8 1.2 1.8 0.5 1.1

Second Half

1.7 0.7 0.9 1.7 1.4 4.0 0.7 2.0 0.6 1.7 1.3 1.8

The first half of 2015 Consumer Price Index for the Honolulu is scheduled to be released on August 19, 2015.


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 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 Honolulu metropolitan area covered in this release consists of Oahu County in the State of Hawaii.

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

Honolulu, HI (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

254.646 255.989 259.190 1.8 1.3

All items (1967=100)

701.033 704.730 713.543 - -

Food and beverages

251.508 252.895 259.151 3.0 2.5

Food

251.289 253.021 259.386 3.2 2.5

Food at home

253.349 257.455 263.728 4.1 2.4

Food away from home

243.411 244.746 250.660 3.0 2.4

Alcoholic beverages

252.586 248.693 253.272 0.3 1.8

Housing

270.557 271.656 275.343 1.8 1.4

Shelter

286.807 286.992 292.046 1.8 1.8

Rent of primary residence

282.052 284.996 290.631 3.0 2.0

Owners' equiv. rent of residences (1)

297.184 296.319 301.175 1.3 1.6

Owners' equiv. rent of primary residence (1)

297.184 296.319 301.175 1.3 1.6

Fuels and utilities

365.647 372.764 378.605 3.5 1.6

Household energy

326.213 336.199 333.793 2.3 -0.7

Energy services

321.536 331.319 328.983 2.3 -0.7

Electricity

318.495 328.140 326.096 2.4 -0.6

Utility (piped) gas service

319.212 336.870 326.205 2.2 -3.2

Household furnishings and operations

151.969 151.243 151.312 -0.4 0.0

Apparel

118.673 112.261 110.021 -7.3 -2.0

Transportation

233.523 237.614 235.132 0.7 -1.0

Private transportation

236.249 238.868 235.748 -0.2 -1.3

Motor fuel

318.978 323.852 310.944 -2.5 -4.0

Gasoline (all types)

328.085 332.979 319.624 -2.6 -4.0

Gasoline, unleaded regular (2)

348.933 353.670 338.353 -3.0 -4.3

Gasoline, unleaded midgrade (2) (3)

254.443 260.927 253.927 -0.2 -2.7

Gasoline, unleaded premium (2)

289.686 292.718 281.799 -2.7 -3.7

Medical care

347.116 348.133 355.393 2.4 2.1

Recreation (4)

117.289 119.313 119.860 2.2 0.5

Education and communication (4)

140.594 141.981 144.995 3.1 2.1

Other goods and services

448.131 450.011 465.906 4.0 3.5
 

Commodity and service group

 
 

All Items

254.646 255.989 259.190 1.8 1.3

Commodities

200.516 200.215 201.900 0.7 0.8

Commodities less food & beverages

167.275 166.088 165.302 -1.2 -0.5

Nondurables less food & beverages

212.447 210.735 209.306 -1.5 -0.7

Durables

117.645 117.045 116.938 -0.6 -0.1

Services

302.237 304.968 309.416 2.4 1.5
 

Special aggregate indexes

 
 

All items less medical care

249.794 251.148 254.122 1.7 1.2

All items less shelter

241.146 242.799 245.532 1.8 1.1

Commodities less food

170.629 169.359 168.744 -1.1 -0.4

Nondurables

233.430 233.276 235.752 1.0 1.1

Nondurables less food

214.926 213.093 212.030 -1.3 -0.5

Services less rent of shelter (1)

322.198 327.664 332.392 3.2 1.4

Services less medical care services

297.254 299.966 304.281 2.4 1.4

Energy

320.375 328.699 320.356 0.0 -2.5

All items less energy

252.007 253.086 256.956 2.0 1.5

All items less food and energy

253.532 254.519 257.958 1.7 1.4

Footnotes
(1) Index is on a December 1982=100 base.
(2) Special index based on a substantially smaller sample.
(3) Indexes on a December 1993=100 base.
(4) Indexes on a December 1997=100 base.
 

- Data not available.
 

 

Last Modified Date: Thursday, February 26, 2015