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Wednesday, September 17, 2014

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Consumer Price Index, Northeast Region – August 2014

Regional prices down 0.3 percent over the month and up 1.3 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast edged down 0.3 percent in August, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the one-month decline was due almost entirely to a 2.8-percent drop in the energy index. The food index also declined, down 0.2 percent, while the all items less food and energy index was unchanged since July. (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 1.3 percent, due mainly to an advance in the all items less food and energy index, up 1.4 percent. (See chart 1 and table A.) The food index also rose since August 2013, up 2.0 percent, while the energy index declined 0.5 percent. (See table 1.)

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

Food

Over the month, food prices edged down 0.2 percent, following a 0.6-percent increase in July. Prices for the food at home component declined 0.4 percent, while those for food away from home inched up 0.1 percent.

Over the year, the food index rose 2.0 percent. Prices advanced for both the food at home and food away from home components, up 1.9 and 2.2 percent, respectively, since August 2013.

Energy

The energy index, which includes prices for household and transportation fuels, declined 2.8 percent over the month. The decrease was due mainly to a 4.3-percent drop in gasoline prices. Prices were also lower for electricity (-1.0 percent) and utility (piped) gas service (-2.5 percent) since July.

The energy prices declined slightly over the year, down 0.5 percent, reflecting a 3.4-percent decrease in gasoline prices. Utility (piped) gas service prices were also lower (-2.3 percent). The 5.2-percent increase in electricity prices moderated the decline in the energy index since August 2013.

All items less food and energy

The index for all items less food and energy was unchanged over the month. Higher shelter prices (0.2 percent) and a smaller-than-usual seasonal advance in apparel prices (1.5 percent), among others, were offset by decreases in prices for recreation (-0.7 percent) and household furnishings and operations (-0.5 percent).

The all items less food and energy index rose 1.4 percent over the year. The advance primarily reflected a 2.6-percent increase in prices for shelter. Lower prices for household furnishings and operations (-1.4 percent) and recreation (-0.7 percent) moderated the increase in the all items less food and energy index since last August.

The September 2014 Consumer Price Index for the Northeast region is scheduled to be released on October 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 0.0 1.9

July

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

August

0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3 0.2 1.5 -0.3 1.3

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-
June
2014
July
2014
Aug.
2014
Aug.
2013
June
2014
July
2014
 

Expenditure category

 
 

All items

253.555 253.833 253.185 1.3 -0.1 -0.3

All items (1967=100)

399.271 399.710 398.688      
 

Food and beverages

246.950 248.378 248.184 2.0 0.5 -0.1

Food

246.990 248.470 248.085 2.0 0.4 -0.2

Food at home

245.405 246.682 245.799 1.9 0.2 -0.4

Food away from home

252.418 254.217 254.568 2.2 0.9 0.1

Alcoholic beverages

245.270 246.023 248.276 1.3 1.2 0.9
 

Housing

262.333 262.728 262.659 2.3 0.1 0.0

Shelter

317.463 318.203 318.800 2.6 0.4 0.2

Rent of primary residence (1)

316.277 316.988 318.041 2.7 0.6 0.3

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

328.483 328.932 329.624 2.6 0.3 0.2

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

328.354 328.803 329.482 2.6 0.3 0.2

Fuels and utilities

228.188 228.027 225.661 2.8 -1.1 -1.0

Household energy

206.745 206.337 203.648 2.7 -1.5 -1.3

Energy servides (1)

196.193 195.973 193.235 3.1 -1.5 -1.4

Electricity (1)

200.176 201.255 199.230 5.2 -0.5 -1.0

Utility (piped) gas service (1)

175.675 172.430 168.181 -2.3 -4.3 -2.5

Household furnishings and operations

125.424 125.075 124.391 -1.4 -0.8 -0.5
 

Apparel

128.287 127.594 129.552 0.3 1.0 1.5
 

Transportation

222.575 221.760 217.996 -0.6 -2.1 -1.7

Private transportation

213.805 214.021 210.969 -0.4 -1.3 -1.4

New and used motor vehicles (3)

98.730 98.989 98.967 0.0 0.2 0.0

New vehicles

144.637 144.529 144.379 0.4 -0.2 -0.1

New cars and trucks (3) (4)

100.204 100.125 100.016 0.3 -0.2 -0.1

New cars (3)

138.154 137.791 137.473 -0.8 -0.5 -0.2

Used cars and trucks

159.423 160.237 160.768 0.5 0.8 0.3

Motor fuel

311.420 310.631 297.424 -3.3 -4.5 -4.3

Gasoline (all types)

310.142 309.385 296.181 -3.4 -4.5 -4.3

Gasoline, unleaded regular (4)

311.375 310.426 296.513 -3.7 -4.8 -4.5

Gasoline, unleaded midgrade (4) (5)

315.618 315.628 304.395 -2.6 -3.6 -3.6

Gasoline, unleaded premium (5)

300.484 300.277 289.786 -2.7 -3.6 -3.5
 

Medical care

455.224 455.736 455.688 1.6 0.1 0.0

Medical care commodities

369.352 371.719 371.018 1.0 0.5 -0.2

Medical care services

478.916 478.780 478.958 1.9 0.0 0.0

Professional services

353.137 352.808 353.313 0.7 0.0 0.1
 

Recreation (3)

120.489 120.428 119.552 -0.7 -0.8 -0.7
 

Education and communication (3)

137.512 137.911 138.465 0.7 0.7 0.4
 

Other goods and services

440.226 441.551 440.729 1.7 0.1 -0.2
 

Commodity and service group

 
 

All items

253.555 253.833 253.185 1.3 -0.1 -0.3

Commodities

196.076 196.256 195.065 0.1 -0.5 -0.6

Commodities less food and beverages

166.140 165.775 164.205 -1.1 -1.2 -0.9

Nondurables less food and beverages

217.350 216.978 214.094 -0.9 -1.5 -1.3

Nondurables less food, beverages, and apparel

286.126 285.945 279.760 -1.3 -2.2 -2.2

Durables

109.269 108.939 108.628 -1.4 -0.6 -0.3

Services

309.869 310.242 310.073 2.1 0.1 -0.1

Rent of shelter (2)

332.084 332.845 333.472 2.6 0.4 0.2

Transportation services

277.036 274.653 271.468 0.5 -2.0 -1.2

Other services

353.438 354.677 354.989 1.2 0.4 0.1
 

Special aggregate indexes

 
 

All items less medical care

244.652 244.920 244.248 1.3 -0.2 -0.3

All items less food

255.073 255.164 254.472 1.2 -0.2 -0.3

All items less shelter

232.094 232.201 231.075 0.7 -0.4 -0.5

Commodities less food

169.198 168.867 167.405 -1.0 -1.1 -0.9

Nondurables

233.148 233.625 231.993 0.5 -0.5 -0.7

Nondurables less food

218.890 218.585 216.014 -0.8 -1.3 -1.2

Nondurables less food and apparel

279.938 279.849 274.536 -1.1 -1.9 -1.9

Services less rent of shelter (2)

312.615 312.606 311.577 1.5 -0.3 -0.3

Services less medical care services

298.110 298.512 298.323 2.1 0.1 -0.1

Energy

250.581 250.014 242.939 -0.5 -3.0 -2.8

All items less energy

256.322 256.691 256.702 1.5 0.1 0.0

All items less food and energy

259.641 259.814 259.895 1.4 0.1 0.0

Commodities less food and energy commodities

150.646 150.401 150.472 -0.5 -0.1 0.0

Energy commodities

321.849 320.881 308.805 -2.6 -4.1 -3.8

Services less energy services

321.076 321.508 321.593 2.0 0.2 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) 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: September 17 , 2014