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13-2246-PHI

Wednesday, November 20, 2013

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Consumer Price Index, Northeast Region – October 2013

Regional Prices Down 0.4 Percent Over the Month, but Rise 0.7 Percent Over the Year

 

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast region decreased 0.4 percent in October, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the recent decline was the largest one-month decrease since December 2008, due almost entirely to a 4.0-percent decrease in the energy index. The food index also declined over the month, down 0.3 percent, while the all items less food and energy index was nearly unchanged, inching up 0.1 percent. (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 0.7 percent, due almost entirely to a 1.5-percent advance in the all items less food and energy index. (See chart 1 and table A.) The food index also rose since October 2012, up 0.7 percent, while the energy index dropped 5.3 percent. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, October 2010 to October 2013 (not seasonally adjusted)

Food

For the first time in five months the food index declined, down 0.3 percent in October.  Prices for one of its two components, food at home, decreased 0.5 percent, while prices for the other, food away from home, were unchanged over the month.  

Over the year, the food index advanced 0.7 percent. Prices for both the food away from home and food at home components increased since last October, up 1.2 and 0.4 percent, respectively.

Energy

The energy index, which includes prices for household and transportation fuels, fell 4.0 percent since September—the largest one-month decrease since December 2008. Most of the recent decrease was due to lower gasoline prices, down 5.4 percent over the month. Electricity prices also declined, with a larger-than-usual seasonal decrease of 5.1 percent in October. Following five months of decreases totaling 6.2 percent, utility (piped) gas service prices increased 0.7 percent since September.

The energy index decreased 5.3 percent over the year, reflecting an 11.0-percent drop in gasoline prices—the largest 12-month decline in four years. Meanwhile, prices for both electricity and utility (piped) gas service were higher since October 2012, up 2.1 and 3.5 percent, respectively. 

All items less food and energy

The index for all items less food and energy inched up 0.1 percent since September. Price increases for components such as shelter (0.1 percent), particularly owners’ equivalent rent of residences (0.3 percent) were nearly offset by price decreases for used cars and trucks (-0.8 percent) and medical care (-0.1 percent).  

The all items less food and energy index rose 1.5 percent over the year. The advance mainly reflected higher prices for shelter (2.2 percent), particularly those for owners’ equivalent rent of residences (2.1 percent) since October 2012. Prices also increased for medical care (1.5 percent) and education and communication (1.2 percent), while prices decreased for household furnishings and operations (-2.0 percent) over the last 12 months

The November 2013 Consumer Price Index for the Northeast region is scheduled to be released on December 17, 2013, 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 2008 2009 2010 2011 2012 2013
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

0.4 3.9 0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9 0.3 1.8

February

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

March

0.8 3.9 0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5 0.0 1.5

April

0.5 3.9 0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3 -0.1 1.1

May

0.9 4.3 0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7 0.0 1.2

June

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

July

0.8 5.7 0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1 0.2 1.8

August

-0.3 5.5 0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3 0.2 1.5

September

-0.4 5.2 0.1 -0.7 -0.1 1.2 0.1 4.0 0.5 1.7 0.1 1.1

October

-0.9 4.0 0.0 0.2 0.3 1.5 -0.1 3.6 0.1 1.9 -0.4 0.7

November

-1.6 1.7 0.2 2.0 0.2 1.5 -0.1 3.2 0.2 1.8    

December

-0.9 0.7 -0.1 2.8 0.0 1.6 -0.3 2.9 -0.3 1.8    

 

Impact of Federal Government Shutdown

As a result of the federal government shutdown, all CPI staff were furloughed from October 1, 2013 through October 16, 2013. Data collection, data review and index computation commenced shortly after the end of the shutdown. In order to minimize the impact of the shutdown on the quality and timeliness of the index, resources normally devoted to maintenance and improvement work were redirected into data collection and index production. The sample of prices used to calculate the October index was about 75 percent of the amount usually used in the CPI.

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:  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
Aug.
2013
Sep.
2013
Oct.
2013
Oct.
2012
Aug.
2013
Sep.
2013

All items

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249.858 250.231 249.320 0.7 -0.2 -0.4

All items (December 1977 = 100)

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393.451 394.037 392.603      
 

Food and beverages

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243.359 243.563 242.924 0.7 -0.2 -0.3

Food

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243.126 243.354 242.648 0.7 -0.2 -0.3

Food at home

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241.176 241.800 240.601 0.4 -0.2 -0.5

Food away from home

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249.055 248.704 248.716 1.2 -0.1 0.0

Alcoholic beverages

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245.147 245.004 245.332 1.2 0.1 0.1
 

Housing

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256.842 257.519 256.898 1.7 0.0 -0.2

Shelter

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310.772 311.165 311.359 2.2 0.2 0.1

Rent of primary residence (1)

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309.740 310.267 311.202 2.7 0.5 0.3

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

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321.139 322.024 323.072 2.1 0.6 0.3

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

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321.048 321.935 322.985 2.1 0.6 0.3

Fuels and utilities

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219.463 223.046 218.076 1.2 -0.6 -2.2

Household energy

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198.342 202.180 196.745 1.0 -0.8 -2.7

Energy services (1)

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187.501 191.769 185.339 2.5 -1.2 -3.4

Electricity (1)

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189.428 195.776 185.846 2.1 -1.9 -5.1

Utility (piped) gas service (1)

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172.204 171.889 173.129 3.5 0.5 0.7

Household furnishings and operations

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126.143 125.529 125.434 -2.0 -0.6 -0.1
 

Apparel

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129.228 133.757 133.700 0.0 3.5 0.0
 

Transportation

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219.400 218.014 214.713 -2.2 -2.1 -1.5

Private transportation

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211.851 210.549 206.869 -3.0 -2.4 -1.7

New and used motor vehicles (3)

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99.010 98.857 98.480 -0.1 -0.5 -0.4

New vehicles

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143.820 143.970 143.496 0.6 -0.2 -0.3

New cars and trucks (3) (4)

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99.673 99.778 99.407 0.5 -0.3 -0.4

New cars (4)

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138.621 138.751 138.067 -0.3 -0.4 -0.5

Used cars and trucks

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159.945 158.264 156.938 -0.4 -1.9 -0.8

Motor fuel

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307.707 303.790 287.548 -10.8 -6.6 -5.3

Gasoline (all types)

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306.667 302.650 286.222 -11.0 -6.7 -5.4

Gasoline, unleaded regular (4)

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307.750 303.509 286.512 -11.3 -6.9 -5.6

Gasoline, unleaded midgrade (4) (5)

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312.524 309.126 293.819 -10.2 -6.0 -5.0

Gasoline, unleaded premium (4)

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297.701 294.464 280.386 -9.5 -5.8 -4.8
 

Medical care

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448.553 449.398 448.873 1.5 0.1 -0.1

Medical care commodities

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367.340 366.115 366.281 -1.9 -0.3 0.0

Medical care services

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470.226 471.901 471.105 2.7 0.2 -0.2

Professional services

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350.893 351.240 351.402 2.4 0.1 0.0
 

Recreation (3)

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120.409 119.585 119.880 0.2 -0.4 0.2
 

Education and communication (3)

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137.456 137.955 137.998 1.2 0.4 0.0
 

Other goods and services

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433.246 433.877 435.911 1.4 0.6 0.5
 

Commodity and service group

 

Commodities

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194.898 195.019 193.389 -1.7 -0.8 -0.8

Commodities less food and beverages

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166.067 166.147 164.148 -3.2 -1.2 -1.2

Nondurables less food and beverages

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216.092 216.726 213.295 -4.0 -1.3 -1.6

Durables

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110.140 109.679 109.158 -1.5 -0.9 -0.5

Services

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303.744 304.358 304.121 2.2 0.1 -0.1
 

Special aggregate indexes

 

All items less shelter

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229.473 229.841 228.514 0.0 -0.4 -0.6

All items less medical care

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241.090 241.443 240.522 0.7 -0.2 -0.4

Commodities less food

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169.138 169.212 167.266 -3.0 -1.1 -1.2

Nondurables

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230.803 231.241 229.088 -1.7 -0.7 -0.9

Nondurables less food

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217.746 218.339 215.106 -3.7 -1.2 -1.5

Services less rent of shelter (2)

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306.906 307.789 307.059 2.2 0.0 -0.2

Services less medical care services

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292.178 292.729 292.525 2.2 0.1 -0.1

Energy

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244.038 244.687 234.778 -5.3 -3.8 -4.0

All items less energy

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252.872 253.219 253.254 1.3 0.2 0.0

All items less food and energy

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256.239 256.610 256.786 1.5 0.2 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.

 

Last Modified Date: November 21, 2013