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14-1301-DAL

Tuesday, July 22, 2014

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Consumer Price Index, South Region – June 2014

Prices in the South up 0.2 percent over the month and 2.3 percent over the year


The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged up 0.2 percent in June, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that the one-month advance was due primarily to a 1.8-percent increase in the energy index. The food index also rose over the month, inching up 0.1 percent, while the all items less food and energy index was unchanged. (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 all items CPI-U rose 2.3 percent. The index for all items less food and energy advanced 2.0 percent over the year. (See chart 1.)

Chart 1. Over-the-year percent change in CPI for All Urban Consumers (CPI-U), South region, June 2011–June 2014


Food

The food index inched up 0.1 percent in June. Prices for food away from home edged up 0.2 percent, while those for food at home were unchanged over the month.

Since June 2013, the index for food advanced 2.5 percent, reflecting higher prices for both food at home (2.7 percent) and food away from home (2.4 percent).

Energy

The energy index rose 1.8 percent over the month, due almost entirely to a 6.1-percent increase in electricity prices. Prices for utility (piped) gas service were also higher, up 0.5 percent, while prices for motor fuel declined 0.6 percent since May.

Over the year, energy prices advanced 3.9 percent, as price increases were recorded for motor fuel (3.8 percent), electricity (4.2 percent), and utility (piped) gas service (2.8 percent).

All items less food and energy

The all items less food and energy index was unchanged in June. Higher prices for shelter (0.2 percent), among others, were offset by lower prices for apparel (-2.0 percent) and household furnishings and operations (-0.2 percent) since May.

Over the year, the index for all items less food and energy advanced 2.0 percent, led by a 3.0-percent increase in shelter prices. Prices for medical care and education and communication were also higher, up 2.6 and 1.7 percent, respectively. These and other increases were moderated by lower prices for household furnishings and operations (-2.2 percent) and apparel (-0.7 percent) since June 2013.


Table A. South 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

0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2 0.4 1.6 0.3 1.7

February

0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8 0.4 1.2

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5 0.6 1.5

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3 0.2 2.4

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2 - -

August

0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7 - -

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3 - -

October

0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1 -0.2 1.3 - -

November

0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6 -0.3 1.5 - -

December

-0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7 0.1 1.8 - -
_______________________
The July 2014 Consumer Price Index for the South region is scheduled to be released on Tuesday, August 19, 2014 at 7:30 a.m. (CT).





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 the 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/pdf/homch17.pdf.

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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

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, South Region (1982-84=100 unless otherwise noted)
Item and Group

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

Expenditure category

 
 

All Items

231.346 231.762 232.269 2.3 0.4 0.2

All items (December 1977=100)

375.276 375.951 376.772      

Food and beverages

240.533 241.086 241.278 2.4 0.3 0.1

Food

241.767 242.371 242.549 2.5 0.3 0.1

Food at home

237.963 238.663 238.549 2.7 0.2 0.0

Food away from home

250.272 250.741 251.352 2.4 0.4 0.2

Alcoholic beverages

222.661 222.513 222.903 1.4 0.1 0.2

Housing

215.758 216.321 217.915 2.5 1.0 0.7

Shelter

242.111 242.698 243.291 3.0 0.5 0.2

Rent of primary residence (1)

246.444 247.082 247.610 3.4 0.5 0.2

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

244.612 245.111 245.575 2.7 0.4 0.2

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

244.614 245.114 245.576 2.7 0.4 0.2

Fuels and utilities

230.057 231.403 240.756 3.7 4.7 4.0

Household energy

191.602 193.146 203.157 4.1 6.0 5.2

Energy services (1)

191.036 192.698 202.999 4.0 6.3 5.3

Electricity (1)

187.261 189.683 201.277 4.2 7.5 6.1

Utility (piped) gas service (1)

199.776 196.362 197.401 2.8 -1.2 0.5

Household furnishings and operations

123.093 123.044 122.821 -2.2 -0.2 -0.2

Apparel

139.132 137.484 134.771 -0.7 -3.1 -2.0

Transportation

223.388 224.263 223.584 2.5 0.1 -0.3

Private transportation

221.638 221.999 221.264 2.3 -0.2 -0.3

New and used motor vehicles (3)

103.692 103.858 103.481 0.2 -0.2 -0.4

New vehicles

153.183 153.392 152.564 -0.2 -0.4 -0.5

New cars and trucks (3) (4)

104.268 104.411 103.841 -0.2 -0.4 -0.5

New cars (4)

155.293 155.601 155.174 -0.1 -0.1 -0.3

Used cars and trucks

149.241 150.068 150.544 0.3 0.9 0.3

Motor fuel

315.540 315.260 313.227 3.8 -0.7 -0.6

Gasoline (all types)

314.020 313.758 311.741 3.7 -0.7 -0.6

Unleaded regular (4)

312.127 311.678 309.644 3.7 -0.8 -0.7

Unleaded midgrade (4) (5)

327.915 328.654 326.600 3.6 -0.4 -0.6

Unleaded premium (4)

313.936 314.213 312.239 3.8 -0.5 -0.6

Medical Care

414.646 414.620 414.855 2.6 0.1 0.1

Medical care commodities

328.615 328.668 330.137 3.0 0.5 0.4

Medical care services

444.014 443.955 443.651 2.5 -0.1 -0.1

Professional services

351.215 352.094 352.396 1.1 0.3 0.1

Recreation (3)

116.523 116.585 116.759 1.0 0.2 0.1

Education and communication (3)

133.962 134.044 134.042 1.7 0.1 0.0

Other goods and services

397.844 398.392 400.674 2.0 0.7 0.6
 

Commodity and Service Group

 
 

All Items

231.346 231.762 232.269 2.3 0.4 0.2

Commodities

192.463 192.429 191.940 1.1 -0.3 -0.3

Commodities less food & beverages

168.037 167.770 167.021 0.3 -0.6 -0.4

Nondurables less food & beverages

226.169 225.667 224.460 1.7 -0.8 -0.5

Nondurables less food, beverages, and apparel

279.473 279.613 279.237 2.4 -0.1 -0.1

Durables

113.915 113.851 113.510 -1.9 -0.4 -0.3

Services

271.077 271.931 273.404 3.0 0.9 0.5

Rent of shelter (2)

248.426 249.032 249.656 3.0 0.5 0.3

Transportation services

302.911 306.328 306.526 4.5 1.2 0.1

Other services

324.482 324.895 325.259 2.3 0.2 0.1
 

Special aggregate indexes:

 
 

All items less medical care

221.047 221.477 221.990 2.2 0.4 0.2

All items less food

229.505 229.892 230.449 2.2 0.4 0.2

All items less shelter

228.543 228.891 229.366 1.9 0.4 0.2

Commodities less food

169.871 169.606 168.885 0.4 -0.6 -0.4

Nondurables

233.593 233.581 233.020 2.1 -0.2 -0.2

Nondurables less food

225.755 225.274 224.156 1.7 -0.7 -0.5

Nondurables less food and apparel

273.285 273.400 273.091 2.3 -0.1 -0.1

Services less rent of shelter (2)

308.073 309.269 311.867 3.1 1.2 0.8

Services less medical care services

255.446 256.339 257.891 3.1 1.0 0.6

Energy

244.036 244.721 249.059 3.9 2.1 1.8

All items less energy

230.648 231.035 231.113 2.1 0.2 0.0

All items less food and energy

229.092 229.442 229.503 2.0 0.2 0.0

Commodities less food and energy commodities

150.290 150.038 149.511 -0.5 -0.5 -0.4

Energy commodities

319.890 319.514 317.397 3.8 -0.8 -0.7

Services less energy services

279.379 280.139 280.605 3.0 0.4 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) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

 

Last Modified Date: July 23, 2014