News Release Information

14–1569–NEW

Tuesday, August 19, 2014

Contacts

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

Consumer Price Index, New York-Northern New Jersey – July 2014

Area prices up 0.1 percent over the month and 1.6 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), ticked up 0.1 percent in July after no change in June, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the index movement to rising prices for food that were largely offset by declining prices for energy and other expenditures. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the year, the CPI-U rose 1.6 percent. (See table A. ) The all items less food and energy index also increased 1.6 percent. The 12-month percentage increase in both indexes has been 2.0 percent or less since December 2013. (See chart 1.)

Chart 1. Over-the-year percent change in CPI-U, New York-Northern New Jersey-Long Island, July 2011-July 2014

Food

The food index jumped 1.0 percent, after inching up 0.1 percent in June. Prices for food away from home climbed 1.4 percent, the largest increase since February 2003, and prices for food at home rose 0.7 percent. Higher prices were observed for a variety of groceries, including salad dressing; fresh biscuits, rolls, muffins; butter and margarine; frozen and freeze-dried prepared foods; other dairy products; and carbonated beverages.

For the year ended July 2014, the food index rose 2.8 percent, reflecting a 3.0-percent increase in at-home food prices and a 2.4-percent rise in away-from-home food prices. (See table 1.)

Energy

The energy index fell 0.9 percent, after it edged up 0.2 percent in June. Gasoline prices retreated 0.3 percent in July, following 5 monthly increases. Declining prices for electricity (-1.4 percent), natural gas (-1.8 percent), and fuel oil accounted for a 1.3-percent drop in household energy prices.

Over the year, energy prices were unchanged. Electricity prices were flat, and a 0.3-percent rise in gasoline was offset by a 4.3-percent decline for natural gas.

All items less food and energy

The index for all items less food and energy was unchanged for the second consecutive month. Prices for education and communication rose 0.4 percent in July, partly due to higher prices for elementary and high school tuition. Shelter prices increased 0.2 percent, reflecting a 0.2-percent rise in residential rent and higher prices for lodging away from home. Prices for medical care also registered a 0.2-percent increase. Other expenditures with higher prices in July included apparel (0.3 percent) and other goods and services (0.3 percent). These increases were offset by price reductions in household furnishings (-0.4 percent), recreation (-0.6 percent, with lower prices for televisions), and airline fares.

From July 2013 to July 2014, the index for all items less food and energy increased 1.6 percent. Shelter prices rose 3.0 percent, including a 3.1-percent increase in residential rent. Medical care prices rose 3.1 percent, and no other component recorded an increase exceeding 1.5 percent.

Table A. New York-Northern New Jersey CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual

January

0.2 1.5 0.2 2.4 0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9

February

0.5 1.6 0.0 1.8 0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1

March

0.2 0.8 0.5 2.1 0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3

April

0.2 0.8 0.2 2.1 0.4 2.5 0.4 2.4 -0.2 1.4 0.0 1.6

May

0.2 -0.1 0.2 2.2 0.6 2.9 0.1 1.8 0.1 1.4 0.5 1.9

June

0.5 -0.6 -0.1 1.5 0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7

July

0.2 -1.1 0.1 1.5 0.3 3.3 -0.2 1.1 0.2 2.1 0.1 1.6

August

0.3 -0.9 0.2 1.4 0.4 3.5 0.6 1.4 0.1 1.7    

September

0.1 -0.6 0.0 1.2 0.2 3.8 0.4 1.6 0.3 1.6    

October

-0.1 0.0 0.2 1.5 -0.2 3.3 -0.1 1.7 -0.6 1.1    

November

0.2 1.8 0.0 1.3 -0.3 3.0 0.0 2.0 0.1 1.2    

December

-0.1 2.3 0.0 1.4 -0.4 2.7 -0.3 2.1 0.0 1.5    

CPI-W

In July, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 257.309, up 0.1 percent over the month. The CPI-W increased 1.6 percent over the year.

The August 2014 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released on Wednesday, September 17, 2014 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 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 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
2014
June
2014
July
2014
July
2013
May
2014
June
2014
 

Expenditure category

 
 

All items

261.225 261.350 261.498 1.6 0.1 0.1

All items (1967=100)

755.164 755.527 755.953      
 

Food and beverages

250.316 250.529 252.924 2.6 1.0 1.0

Food

250.182 250.540 252.972 2.8 1.1 1.0

Food at home

251.280 251.449 253.161 3.0 0.7 0.7

Food away from home

255.279 255.908 259.400 2.4 1.6 1.4

Alcoholic beverages

247.997 246.006 247.805 0.1 -0.1 0.7
 

Housing

277.037 277.240 277.203 2.2 0.1 0.0

Shelter

340.876 340.982 341.523 3.0 0.2 0.2

Rent of primary residence (1)

347.910 348.329 349.097 3.1 0.3 0.2

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

347.099 347.803 348.016 3.3 0.3 0.1

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

346.870 347.563 347.772 3.3 0.3 0.1

Fuels and utilities

208.303 208.320 206.056 -0.1 -1.1 -1.1

Household energy

204.676 204.662 201.937 -0.4 -1.3 -1.3

Energy services (1)

188.695 189.149 186.360 -1.3 -1.2 -1.5

Electricity (1)

194.583 199.893 197.191 0.0 1.3 -1.4

Utility (piped) gas service (1)

171.402 161.867 158.973 -4.3 -7.3 -1.8

Household furnishings and operations

117.297 118.076 117.559 -2.0 0.2 -0.4
 

Apparel

125.435 123.067 123.455 0.4 -1.6 0.3
 

Transportation

235.298 235.944 234.140 0.1 -0.5 -0.8

Private transportation

221.541 221.243 221.363 0.5 -0.1 0.1

Motor fuel

294.611 295.662 294.677 0.5 0.0 -0.3

Gasoline (all types)

293.304 294.361 293.381 0.3 0.0 -0.3

Gasoline, unleaded regular (3)

295.931 297.203 295.847 0.2 0.0 -0.5

Gasoline, unleaded midgrade (3) (4)

295.119 295.491 295.651 0.9 0.2 0.1

Gasoline, unleaded premium (3)

289.737 290.257 290.380 0.8 0.2 0.0
 

Medical care

437.850 438.738 439.665 3.1 0.4 0.2
 

Recreation (5)

119.249 119.664 118.928 -0.9 -0.3 -0.6
 

Education and communication (5)

140.548 140.700 141.201 0.3 0.5 0.4
 

Other goods and services

398.955 398.378 399.930 1.5 0.2 0.4
 

Commodity and service group

 
 

All items

261.225 261.350 261.498 1.6 0.1 0.1

Commodities

195.316 195.136 195.806 0.9 0.3 0.3

Commodities less food and beverages

159.085 158.725 158.531 -0.4 -0.3 -0.1

Nondurables less food and beverages

204.556 203.778 204.037 0.4 -0.3 0.1

Durables

101.682 101.780 101.127 -2.1 -0.5 -0.6

Services

317.753 318.122 317.859 2.0 0.0 -0.1
 

Special aggregate indexes

 
 

All items less medical care

253.469 253.565 253.682 1.5 0.1 0.0

All items less shelter

230.142 230.277 230.259 0.9 0.1 0.0

Commodities less food

162.769 162.359 162.223 -0.4 -0.3 -0.1

Nondurables

229.816 229.506 230.804 1.6 0.4 0.6

Nondurables less food

207.553 206.708 207.050 0.4 -0.2 0.2

Services less rent of shelter (2)

303.550 304.227 303.003 0.9 -0.2 -0.4

Services less medical care services

308.018 308.427 308.150 2.0 0.0 -0.1

Energy

241.877 242.270 240.171 0.0 -0.7 -0.9

All items less energy

264.988 265.088 265.451 1.8 0.2 0.1

All items less food and energy

269.379 269.435 269.426 1.6 0.0 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: August 19, 2014