News Release Information

14-1141-CHI

Tuesday, June 17, 2014

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Consumer Price Index, Cleveland-Akron – May 2014


The Cleveland-Akron, Ohio, Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent from March to May, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that food prices rose 0.3 percent and energy costs fell 0.2 percent over the bi-monthly period. The index for all items less food and energy increased 0.2 percent. Within this last category, costs were higher for shelter, public transportation, and recreation over the two-month period. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the past 12 months the Cleveland area all items CPI-U rose 1.7 percent. The energy index rose 1.6 percent from its May 2013 level mostly due to annual increases in prices for electricity and gasoline. Utility (piped) gas service costs were down over-the-year. The index for all items less food and energy rose 1.7 percent over the past 12 months.

Chart 1. Over-the-year percent change in CPI-U, Cleveland-Akron, May 2011-May 2014

Food

Food prices increased 0.3 percent from March to May compared to a 1.3-percent increase over the previous bi-monthly period. Between the food index’s two components, prices for food at home (groceries) rose 0.4 percent while food away from home (restaurant, cafeteria, and vending purchases) prices increased 0.2 percent from March to May. Over the year, food at home prices were up 3.0 percent while prices for food away from home rose 1.7 percent. Overall food costs rose 2.4 percent from a year ago.

Energy

The energy index fell 0.2 percent from March to May following an 8.7-percent increase over the previous bi-monthly period. Increases in costs for gasoline (3.5 percent) and electricity (1.0 percent) were the main contributing factors.

Over the year, the energy index was up 1.6 percent. A 4.2-percent increase in costs for electricity was the main contributing factor. Costs for gasoline rose 1.2 percent while utility (piped) gas service costs fell 0.8 percent from last May.

All items less food and energy

The index for all items less food and energy rose 0.2 percent from March to May. Among the index’s components, increases were recorded in prices for shelter (0.9 percent), public transportation, and recreation (1.4 percent).

Over the year, the index for all items less food and energy rose 1.7 percent mostly due to a 3.4-percent annual increase in the cost of shelter. Also contributing, but to a lesser extent, were annual gains in costs for medical care (1.7 percent) and education and communication (1.9 percent).

____________

The July 2014 Consumer Price Index for Cleveland is scheduled to be released on August 19, 2014, at 8:30 a.m. (ET).


Table A. Percent Changes in the CPI-U, Cleveland-Akron (not seasonally adjusted)
Expenditure Category Percent changes from preceding 2 months 12 mo. ended May '14
2013 2014
May July Sep. Nov. Jan. Mar. May

All items

0.4 0.7 -0.4 -0.7 0.3 1.6 0.2 1.7

Food & beverages

-0.4 0.1 -0.1 0.4 0.4 1.2 0.3 2.4

Food

-0.5 0.1 0.0 0.3 0.4 1.3 0.3 2.4

Housing

0.8 1.9 -1.6 -0.3 0.7 1.8 0.2 2.7

Apparel

0.1 -3.6 8.1 -3.3 -4.3 3.5 -3.9 -4.0

Transportation

-0.1 -0.8 0.0 -3.5 0.6 2.5 1.3 -0.2

Medical care

0.0 0.7 0.7 -0.1 0.4 1.7 -1.6 1.7

Recreation

1.4 1.0 -0.5 0.2 -0.1 -0.8 1.4 1.2

Education & communication

1.0 0.8 0.6 0.1 -0.3 0.7 -0.1 1.9

Other goods & services

-0.8 0.6 -0.8 1.0 0.5 0.4 1.3 2.9

Special Indexes

Energy

1.2 -0.2 -4.7 -4.8 3.5 8.7 -0.2 1.6

All items less food & energy

0.4 0.9 0.1 -0.4 -0.1 0.8 0.2 1.7

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 Cleveland-Akron, Ohio consolidated area covered in this release is comprised of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage, and Summit Counties in Ohio.

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

Cleveland-Akron, OH (1982-84=100 unless otherwise noted)
Item and Group

Indexes
Percent change from-
Mar.
2014
Apr.
2014
May
2014
May
2013
Mar.
2014
Apr.
2014

Expenditure category

 
 

All items

220.962 - 221.413 1.7 0.2 -

All items (1967=100)

708.066 - 709.513 - - -

Food and beverages

245.259 - 246.007 2.4 0.3 -

Food

250.389 - 251.137 2.4 0.3 -

Food at home

245.288 244.943 246.274 3.0 0.4 0.5

Food away from home

261.233 - 261.625 1.7 0.2 -

Alcoholic beverages

187.838 - 188.603 1.4 0.4 -

Housing

200.751 - 201.177 2.7 0.2 -

Shelter

228.088 229.826 230.092 3.4 0.9 0.1

Rent of primary residence (1)

228.411 227.216 227.285 1.0 -0.5 0.0

Owners' equiv. rent of residences (1) (2)

223.944 223.904 223.832 2.1 -0.1 0.0

Owners' equiv. rent of primary residence (1) (2)

223.944 223.904 223.832 2.1 -0.1 0.0

Fuels and utilities

207.488 - 200.319 2.8 -3.5 -

Household energy

177.860 172.528 170.087 1.8 -4.4 -1.4

Energy services (1)

176.068 170.671 168.209 1.7 -4.5 -1.4

Electricity (1)

162.097 163.710 163.710 4.2 1.0 0.0

Utility (piped) gas service (1)

175.333 161.402 156.003 -0.8 -11.0 -3.3

Household furnishings and operations

117.895 - 118.501 -2.1 0.5 -

Apparel

132.433 - 127.298 -4.0 -3.9 -

Transportation

216.432 - 219.175 -0.2 1.3 -

Private transportation

218.534 - 220.082 -0.3 0.7 -

Motor fuel

364.204 368.333 376.759 1.5 3.4 2.3

Gasoline (all types)

360.152 364.247 372.594 1.2 3.5 2.3

Gasoline, unleaded regular (3)

350.057 354.142 362.410 0.9 3.5 2.3

Gasoline, unleaded midgrade (3) (4)

367.183 371.218 379.080 1.8 3.2 2.1

Gasoline, unleaded premium (3)

347.617 351.047 359.002 2.2 3.3 2.3

Medical care

400.357 - 393.836 1.7 -1.6 -

Recreation (5)

114.798 - 116.348 1.2 1.4 -

Education and communication (5)

125.391 - 125.314 1.9 -0.1 -

Other goods and services

403.251 - 408.334 2.9 1.3 -
 

Commodity and service group

 
 

All items

220.962 - 221.413 1.7 0.2 -

Commodities

195.749 - 196.707 0.4 0.5 -

Commodities less food & beverages

169.149 - 170.160 -0.8 0.6 -

Nondurables less food & beverages

226.978 - 229.575 0.5 1.1 -

Durables

110.088 - 109.850 -2.3 -0.2 -

Services

247.463 - 247.470 2.5 0.0 -
 

Special aggregate indexes

 
 

All items less medical care

212.700 - 213.451 1.7 0.4 -

All items less shelter

220.204 - 220.018 1.0 -0.1 -

Commodities less food

170.092 - 171.097 -0.8 0.6 -

Nondurables

237.487 - 239.217 1.4 0.7 -

Nondurables less food

224.087 - 226.560 0.6 1.1 -

Services less rent of shelter (2)

274.185 - 271.709 1.6 -0.9 -

Services less medical care services

235.618 - 236.344 2.8 0.3 -

Energy

247.934 245.986 247.476 1.6 -0.2 0.6

All items less energy

220.372 - 220.916 1.8 0.2 -

All items less food and energy

215.249 - 215.759 1.7 0.2 -

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.

- Data not available
NOTE: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: June 17, 2014