Consumer Price Index, Honolulu – First Half 2014
Area prices up 0.5 percent over the past six months, up 1.1 percent from a year ago
Prices in the greater Honolulu area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.5 percent in the first half of 2014, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that this latest six-month increase was influenced by higher prices for food, electricity, rent of primary residence, and recreation. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)
Over the past 12 months, the CPI-U rose 1.1 percent. (See chart 1.) Energy prices advanced 0.6 percent, mainly due to an increase in the price of electricity. The index for all items less food and energy increased 1.2 percent over the year.
Food prices advanced 0.7 percent in the first half of 2014. (See table 1.) Prices for food at home rose 1.6 percent for the past six months. Prices for food away from home increased 0.5 percent for the same period.
For the year ending in the first half of 2014, food prices rose 1.1 percent. Prices for food away from home advanced 2.4 percent during the past 12 months, and prices for food at home increased 0.6 percent.
Energy prices increased 2.6 percent since the second half of 2013, strongly influenced by a 3.0 percent increase in the price of electricity. Natural gas service prices gained 5.5 percent and gasoline prices gained 1.5 percent for the same period.
Energy prices rose 0.6 percent over the year mainly due to a 2.8 percent increase in the price of electricity. Gasoline prices decreased 2.0 percent, and natural gas service prices declined 0.3 percent during the past 12 months.
All items less food and energy
The index for all items less food and energy increased 0.4 percent from the second half of 2013 to the first half of 2014. Among the index components, increases were recorded for recreation (1.7 percent), rent of primary residence (1.0 percent), and education and communication (1.0 percent). In contrast, lower prices were reported for apparel (-5.4 percent) during the past six months.
Over the year, the index for all items less food and energy advanced 1.2 percent. Prices increased for education and communication (2.7 percent), recreation (2.5 percent), rent of primary residence (1.4 percent), and medical care (1.4 percent). Partially offsetting the increases were lower prices for apparel (-5.9 percent) and household furnishings and operations (-2.1 percent).
In the first half of 2014, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 253.417, up 0.3 percent. The CPI-W increased 0.7 percent over the year.
The second half of 2014 Consumer Price Index for Honolulu is scheduled to be released mid-February 2015.