News Release Information

14–1087–NEW

Tuesday, June 17, 2014

Contacts

Technical information:
Media contact:
  • Martin Kohli (646) 264-3620

Consumer Price Index, Northeast Region – May 2014

Regional prices up 0.4 percent over the month and 2.0 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast rose 0.4 percent in May, the U.S. Bureau of Labor Statistics reported today. Martin Kohli, the Bureau’s chief regional economist, noted that the one-month advance was primarily due to a 0.3-percent increase in the all items less food and energy index. The energy index and the food index also increased since April, up 1.2 and 0.6 percent, respectively. (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 increased 2.0 percent, due mainly to an advance in the all items less food and energy index, up 1.7 percent. (See chart 1 and table A.) The energy and food indexes also rose since May 2013, up 4.6 and 2.0 percent, respectively. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, May 2011 to May 2014 (not seasonally adjusted)

Food

Over the month, food prices rose 0.6 percent, due to a 1.1-percent increase in prices for food at home—the largest increase in this component of the food index since January 2011. Prices for the other component, food away from home, were unchanged since April.

Over the year, the food index rose 2.0 percent. Prices for the food at home component advanced 2.2 percent and those for food away from home increased 1.7 percent since May 2013.

Energy

The energy index, which includes prices for household and transportation fuels, advanced 1.2 percent over the month. Prices for gasoline rose 2.3 percent and those for electricity, 3.4 percent. Moderating the over-the-month increase in the energy index were lower prices for utility (piped) gas service, down 6.4 percent—their largest one-month decline in two years.

The energy index increased 4.6 percent over the year, due mostly to higher prices for gasoline (5.3 percent); electricity prices also rose (4.7 percent). Utility (piped) gas service prices edged up 0.2 percent since May 2013.

All items less food and energy

The index for all items less food and energy edged up 0.3 percent over the month, due mostly to a 0.5-percent rise in shelter prices. Medical care prices rose as well, also up 0.5 percent in May. Moderating these advances were lower prices for household furnishings and operations (-0.5 percent) and recreation (-0.2 percent) since April.

The all items less food and energy index rose 1.7 percent over the year. The advance primarily reflected a 3.0-percent increase in prices for shelter, which was this index’s largest 12-month increase since March 2008. Price advances were widespread among other components; lower prices for household furnishings and operations, down 2.3 percent, moderated the rise in the all items less food and energy index since May 2013.

The June 2014 Consumer Price Index for the Northeast region is scheduled to be released on July 22, 2014, at 8:30 a.m. (ET).
Table A. Northeast region CPI-U 1-month and 12-month percent changes, all items index (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
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

0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9 0.3 1.8 0.6 1.5

February

0.6 0.7 0.0 2.5 0.5 2.0 0.4 2.8 0.6 2.0 0.1 1.0

March

0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5 0.0 1.5 0.5 1.5

April

0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3 -0.1 1.1 0.0 1.6

May

0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7 0.0 1.2 0.4 2.0

June

0.8 -1.2 -0.1 1.7 0.1 3.4 -0.2 1.5 0.1 1.5    

July

0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1 0.2 1.8    

August

0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3 0.2 1.5    

September

0.1 -0.7 -0.1 1.2 0.1 4.0 0.5 1.7 0.1 1.1    

October

0.0 0.2 0.3 1.5 -0.1 3.6 0.1 1.9 -0.4 0.7    

November

0.2 2.0 0.2 1.5 -0.1 3.2 -0.2 1.8 0.1 1.0    

December

-0.1 2.8 0.0 1.6 -0.3 2.9 -0.3 1.8 0.0 1.3    

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 88 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 29 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 Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

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, Northeast (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
March
2014
April
2014
May
2014
May
2013
March
2014
April
2014
 

Expenditure category

 
 

All items

252.413 252.506 253.598 2.0 0.5 0.4

All items (1967=100)

397.473 397.619 399.339      
 

Food and beverages

245.441 245.684 247.213 1.9 0.7 0.6

Food

245.294 245.588 247.177 2.0 0.8 0.6

Food at home

243.235 243.573 246.166 2.2 1.2 1.1

Food away from home

251.406 251.638 251.756 1.7 0.1 0.0

Alcoholic beverages

246.155 245.756 246.507 0.1 0.1 0.3
 

Housing

261.945 261.192 262.198 2.6 0.1 0.4

Shelter

315.041 315.663 317.363 3.0 0.7 0.5

Rent of primary residence (1)

314.109 314.988 315.883 2.6 0.6 0.3

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

326.924 327.241 327.998 3.0 0.3 0.2

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

326.812 327.122 327.878 3.0 0.3 0.2

Fuels and utilities

237.032 228.207 228.329 3.8 -3.7 0.1

Household energy

216.366 206.834 206.958 3.8 -4.3 0.1

Energy servides (1)

203.925 194.829 195.715 3.2 -4.0 0.5

Electricity (1)

204.418 190.794 197.344 4.7 -3.5 3.4

Utility (piped) gas service (1)

191.122 193.132 180.727 0.2 -5.4 -6.4

Household furnishings and operations

125.162 125.586 124.936 -2.3 -0.2 -0.5
 

Apparel

130.924 130.628 130.688 0.8 -0.2 0.0
 

Transportation

218.235 220.139 222.368 2.3 1.9 1.0

Private transportation

210.958 212.500 214.024 2.4 1.5 0.7

New and used motor vehicles (3)

98.372 98.809 98.853 -0.2 0.5 0.0

New vehicles

144.420 144.921 144.771 0.5 0.2 -0.1

New cars and trucks (3) (4)

100.040 100.391 100.298 0.5 0.3 -0.1

New cars (3)

137.944 138.504 138.430 -0.5 0.4 -0.1

Used cars and trucks

156.073 157.903 158.953 -0.2 1.8 0.7

Motor fuel

300.916 305.244 312.055 5.3 3.7 2.2

Gasoline (all types)

299.393 303.824 310.727 5.3 3.8 2.3

Gasoline, unleaded regular (4)

300.482 305.000 311.958 5.5 3.8 2.3

Gasoline, unleaded midgrade (4) (5)

304.968 309.451 316.199 4.7 3.7 2.2

Gasoline, unleaded premium (5)

290.499 294.380 300.957 4.5 3.6 2.2
 

Medical care

451.518 453.094 455.144 1.9 0.8 0.5

Medical care commodities

365.106 366.828 367.258 0.8 0.6 0.1

Medical care services

475.446 476.951 479.534 2.3 0.9 0.5

Professional services

351.085 351.468 352.693 0.9 0.5 0.3
 

Recreation (3)

120.721 120.427 120.197 -0.2 -0.4 -0.2
 

Education and communication (3)

137.562 137.623 137.517 1.0 0.0 -0.1
 

Other goods and services

438.401 438.977 439.354 1.9 0.2 0.1
 

Commodity and service group

 
 

All items

252.413 252.506 253.598 2.0 0.5 0.4

Commodities

195.401 195.718 196.497 1.2 0.6 0.4

Commodities less food and beverages

165.851 166.186 166.611 0.8 0.5 0.3

Nondurables less food and beverages

216.698 216.999 218.247 2.2 0.7 0.6

Nondurables less food, beverages, and apparel

283.296 284.000 286.086 2.6 1.0 0.7

Durables

109.319 109.659 109.334 -1.5 0.0 -0.3

Services

308.285 308.177 309.570 2.5 0.4 0.5

Rent of shelter (2)

329.520 330.176 331.972 3.0 0.7 0.5

Transportation services

271.541 273.438 275.889 1.6 1.6 0.9

Other services

352.596 352.781 352.911 1.5 0.1 0.0
 

Special aggregate indexes

 
 

All items less medical care

243.618 243.649 244.699 2.0 0.4 0.4

All items less food

254.016 254.077 255.093 2.0 0.4 0.4

All items less shelter

231.423 231.317 232.191 1.5 0.3 0.4

Commodities less food

168.944 169.258 169.695 0.8 0.4 0.3

Nondurables

232.084 232.360 233.752 2.0 0.7 0.6

Nondurables less food

218.331 218.589 219.807 2.0 0.7 0.6

Nondurables less food and apparel

277.492 278.083 280.022 2.4 0.9 0.7

Services less rent of shelter (2)

311.938 311.008 312.092 1.9 0.0 0.3

Services less medical care services

296.648 296.443 297.758 2.5 0.4 0.4

Energy

251.824 248.059 250.971 4.6 -0.3 1.2

All items less energy

254.922 255.415 256.329 1.8 0.6 0.4

All items less food and energy

258.285 258.817 259.616 1.7 0.5 0.3

Commodities less food and energy commodities

151.177 151.291 151.030 -0.7 -0.1 -0.2

Energy commodities

316.237 317.958 323.183 5.5 2.2 1.6

Services less energy services

318.572 319.352 320.796 2.5 0.7 0.5

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) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

NOTE: Index applies to a month as a whole, not to any specific date.
The Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

 

Last Modified Date: June 18, 2014