Consumer Price Index, Phoenix – Second Half 2012
Area prices up 0.1 percent over the past six months, up 1.7 percent from a year ago
Prices in the greater Phoenix area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), edged up 0.1 percent in the second half of 2012, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that this latest six-month period increase was influenced by higher prices for electricity and shelter. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)
Over the past 12 months, the CPI-U rose 1.7 percent. (See chart 1.) Energy prices increased 3.1 percent, mainly due to an increase in the price of gasoline. The index for all items less food and energy advanced 1.4 percent over the year.
Food prices rose 0.5 percent in the second half of 2012. (See table 1.) Prices for food at home increased 0.3 percent for the past six months, and prices for food away from home rose 1.2 percent for the same period.
For the year ending in the second half of 2012, food prices increased 1.6 percent. Prices for food at home moved up 0.8 percent during the past 12 months, and prices for food away from home increased 3.8 percent.
The energy index declined 0.6 percent since the first half of 2012. Lower prices for natural gas service (-6.2 percent) and gasoline (-5.6 percent) strongly influenced the energy index during the past six months. Partly offsetting the decrease were higher prices for electricity (10.0 percent).
Energy prices increased 3.1 percent over the year. Prices rose for gasoline (4.9 percent) and electricity (1.3 percent), while natural gas service prices declined (-1.2 percent) during the same period.
All items less food and energy
The index for all items less food and energy edged up 0.3 percent from the first half of 2012 to the second half of 2012. Prices increased 0.9 percent for shelter and 0.6 percent for apparel. Partially offsetting the increases were decreases for recreation (-1.0 percent), medical care (-0.3 percent), and education and communication (-0.2 percent).
Over the year, the index for all items less food and energy advanced 1.4 percent. Among the index components, increases were recorded for apparel (8.2 percent), medical care (3.0 percent), and shelter (1.6 percent). Recreation was the only major expenditure category to post a year-over-year decline (-1.6 percent) among the all items less food and energy index.
In the second half of 2012, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 123.894, virtually unchanged for the six month period. The CPI-W increased 1.2 percent over the year.
The first half of 2013 Consumer Price Index for Phoenix is scheduled to be released August 15, 2013.