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12-1466-PHI

Tuesday, July 17, 2012

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Consumer Price Index, Northeast Region – June 2012

Regional Prices Down 0.2 Percent Over the Month; Up 1.5 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast region edged down 0.2 percent in June, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the recent decrease was due to a one-month decline in the energy index, down 3.2 percent. Partially offsetting the lower energy prices was a 0.1-percent increase in the all items less food and energy index. The food index was unchanged over the month. (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 1.5 percent. (See chart 1 and table A.) The all items less food and energy component advanced 2.1 percent. The food component also rose, up 2.8 percent, while energy prices fell 5.9 percent since June 2011. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, June 2009 to June 2012 (not seasonally adjusted)


Food

Following a 0.5-percent increase in May, the food index was unchanged in June. A 0.3-percent decrease in food at home prices was offset by a 0.3-percent increase in food away from home prices.

Over the year, the food index advanced 2.8 percent. Prices were higher for both the food at home (2.9 percent) and food away from home (2.8 percent) components since last June.

Energy

The energy index, which includes prices for household and transportation fuels, decreased 3.2 percent in June, due entirely to a 6.4-percent drop in gasoline prices—the largest one-month decline since December 2008. Moderating the recent decrease in the energy index were higher prices for electricity (3.7 percent) and utility (piped) gas service (1.6 percent) since May.

The energy index fell 5.9 percent over the year as its three largest components all recorded decreases. The decline was led by lower gasoline prices, down 5.9 percent. Utility (piped) gas service prices dropped 11.9 percent, their 20th consecutive over-the-year decrease, and electricity prices fell 1.5 percent, their 8th.

All items less food and energy

Over the month, the all items less food and energy index inched up 0.1 percent. The recent rise was led by higher prices for shelter (0.4 percent). Prices for used cars and trucks also increased, up 1.1 percent, among others. A seasonal decrease in apparel prices (-3.0 percent) moderated the advance in the all items less food and energy index since May.

The index for all items less food and energy rose 2.1 percent over the year. The 12-month advance was led by higher shelter prices (2.1 percent), particularly those for owners’ equivalent rent of residences (2.2 percent). Widespread price increases among other components, including medical care (3.7 percent) and apparel (3.6 percent), also contributed to the rise in the all items less food and energy index since June 2011.

The July 2012 Consumer Price Index for the Northeast region is scheduled to be released on August 15, 2012, 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 2007 2008 2009 2010 2011 2012
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

0.3 2.3 0.4 3.9 0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9

February

0.4 2.4 0.4 4.0 0.6 0.7 0.0 2.5 0.5 2.0 0.4 2.8

March

0.8 2.6 0.8 3.9 0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5

April

0.5 2.2 0.5 3.9 0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3

May

0.5 2.3 0.9 4.3 0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7

June

0.4 2.3 1.1 5.0 0.8 -1.2 -0.1 1.7 0.1 3.4 -0.2 1.5

July

0.2 2.0 0.8 5.7 0.1 -1.9 0.0 1.6 0.2 3.6    

August

-0.2 1.6 -0.3 5.5 0.3 -1.2 0.1 1.4 0.3 3.8    

September

-0.1 2.4 -0.4 5.2 0.1 -0.7 -0.1 1.2 0.1 4.0    

October

0.2 3.1 -0.9 4.0 0.0 0.2 0.3 1.5 -0.1 3.6    

November

0.6 4.0 -1.6 1.7 0.2 2.0 0.2 1.5 -0.1 3.2    

December

0.0 3.8 -0.9 0.7 -0.1 2.8 0.0 1.6 -0.3 2.9    

 

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; TDD message referral phone number:  1-800-877-8339.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Northeast Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Historical
data
Apr.
2012
May
2012
Jun.
2012
Jun.
2011
Apr.
2012
May
2012

All items

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245.850 245.709 245.201 1.5 -0.3 -0.2

All items (December 1977 = 100)

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387.138 386.917 386.116      
 

Food and beverages

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238.835 240.018 240.039 2.8 0.5 0.0

Food

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238.657 239.892 239.798 2.8 0.5 0.0

Food at home

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238.223 239.676 239.056 2.9 0.3 -0.3

Food away from home

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242.298 243.228 243.906 2.8 0.7 0.3

Alcoholic beverages

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239.846 240.264 241.963 2.1 0.9 0.7
 

Housing

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250.511 250.640 251.619 1.2 0.4 0.4

Shelter

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300.873 301.935 303.136 2.1 0.8 0.4

Rent of primary residence (1)

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298.710 299.623 300.242 2.6 0.5 0.2

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

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312.761 313.152 313.774 2.2 0.3 0.2

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

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312.667 313.059 313.681 2.2 0.3 0.2

Fuels and utilities

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217.641 214.273 215.185 -4.2 -1.1 0.4

Household energy

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197.928 194.001 194.873 -5.8 -1.5 0.4

Energy services (1)

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182.657 179.646 185.112 -5.5 1.3 3.0

Electricity (1)

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181.762 183.893 190.619 -1.5 4.9 3.7

Utility (piped) gas service (1)

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173.523 159.995 162.510 -11.9 -6.3 1.6

Household furnishings and operations

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128.419 128.027 128.380 0.8 0.0 0.3
 

Apparel

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132.085 130.990 126.999 3.6 -3.9 -3.0
 

Transportation

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220.249 218.237 214.475 -0.6 -2.6 -1.7

Private transportation

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213.735 211.394 207.362 -0.9 -3.0 -1.9

New and used motor vehicles (3)

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99.601 99.566 99.939 0.2 0.3 0.4

New vehicles

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143.557 142.829 142.576 0.7 -0.7 -0.2

New cars and trucks (3) (4)

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99.497 98.990 98.817 0.7 -0.7 -0.2

New cars (4)

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139.026 138.692 138.334 0.0 -0.5 -0.3

Used cars and trucks

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160.396 162.940 164.734 3.3 2.7 1.1

Motor fuel

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327.196 316.518 296.226 -5.8 -9.5 -6.4

Gasoline (all types)

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326.070 315.391 295.081 -5.9 -9.5 -6.4

Gasoline, unleaded regular (4)

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328.640 317.531 296.395 -6.1 -9.8 -6.7

Gasoline, unleaded midgrade (4) (5)

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329.856 319.824 300.810 -5.4 -8.8 -5.9

Gasoline, unleaded premium (4)

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311.109 302.204 285.020 -5.2 -8.4 -5.7
 

Medical care

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435.762 437.270 437.098 3.7 0.3 0.0

Medical care commodities

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365.345 366.928 366.859 3.4 0.4 0.0

Medical care services

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453.330 454.767 454.557 3.8 0.3 0.0

Professional services

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341.129 342.258 342.037 1.7 0.3 -0.1
 

Recreation (3)

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119.606 119.673 119.880 1.8 0.2 0.2
 

Education and communication (3)

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134.626 134.814 134.973 1.6 0.3 0.1
 

Other goods and services

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426.733 426.180 427.178 2.8 0.1 0.2
 

Commodity and service group

 

Commodities

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196.580 195.754 193.235 0.8 -1.7 -1.3

Commodities less food and beverages

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170.395 168.724 165.193 -0.4 -3.1 -2.1

Nondurables less food and beverages

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222.751 219.265 212.243 -1.0 -4.7 -3.2

Durables

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112.014 112.177 112.191 0.6 0.2 0.0

Services

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294.320 294.827 296.218 1.9 0.6 0.5
 

Special aggregate indexes

 

All items less shelter

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227.607 227.022 225.877 1.1 -0.8 -0.5

All items less medical care

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237.434 237.232 236.713 1.3 -0.3 -0.2

Commodities less food

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173.225 171.601 168.196 -0.3 -2.9 -2.0

Nondurables

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232.280 230.952 227.168 0.8 -2.2 -1.6

Nondurables less food

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223.776 220.494 213.930 -0.8 -4.4 -3.0

Services less rent of shelter (2)

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297.721 297.616 299.263 1.6 0.5 0.6

Services less medical care services

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283.238 283.691 285.156 1.7 0.7 0.5

Energy

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251.834 245.110 237.253 -5.9 -5.8 -3.2

All items less energy

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247.573 248.130 248.396 2.2 0.3 0.1

All items less food and energy

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250.751 251.183 251.518 2.1 0.3 0.1

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) Indexes 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.