The Bureau of Labor Statistics of the U.S. Department of Labor reported today that the February 2008 Consumer Price Index for the San Francisco-Oakland-San Jose area increased 2.8 percent over the past 12 months. This compares to a 3.2 percent increase for the February 2006 to February 2007 period. Over the past two months, Bay Area consumer prices increased 0.5 percent. Regional Commissioner Richard J. Holden noted that rising housing and apparel prices contributed significantly to the increase. Local area Consumer Price Index (CPI) data are not seasonally adjusted.

From December to February, the housing index increased 0.4 percent. The housing index, which comprises approximately 46 percent of the all items index, increased 1.5 percent since last year. Within housing, the cost of shelter rose 0.5 percent over the past two months and 1.5 percent for the past year. Also contained in housing costs, fuels and utilities decreased 0.6 percent over the past two months, but advanced 1.7 percent over the past year. Over the past two months within fuels and utilities, prices for utility (piped) gas service and electricity prices decreased by 1.7 and 1.3 percent, respectively. Over the past year, prices for utility (piped) gas service increased 8.3 percent and electricity decreased 2.5 percent.

Transportation prices in the San Francisco area decreased 0.9 percent between December and February, but increased 4.9 percent over the past year. Within transportation, gasoline prices declined 3.2 percent compared to December, but advanced by 18.5 percent since February 2007. Over the past three years gasoline prices rose 58.9 percent.

Bay area prices for food and beverages advanced 1.0 percent compared to December and 4.3 percent since February 2007. The food at home index, which measures grocery prices, increased 1.3 percent since December and 4.8 percent over the past year. This followed a 1.1 percent increase for the food at home index between October and December 2007. Food away from home prices advanced 3.6 percent since February 2007. Additionally, alcoholic beverage costs increased 0.9 percent over the past two months and were 4.8 percent higher over the past year.

Medical care prices increased 2.3 percent over the past two months and 5.8 percent over the past year. Compared with three years ago, medical care prices were 23.8 percent higher.

Apparel prices increased 4.8 percent over the past two months, but decreased 2.4 percent over the past year.

The San Francisco area recreation index advanced 0.4 percent between December and February. Over the past year, recreation prices were up 2.2 percent.

Among the remaining expenditure categories, education and communication prices increased 0.9 percent over the past two months, while other goods and services decreased 0.5 percent. Over the past year, prices for education and communication were 4.4 percent higher and prices for other goods and service were 2.4 percent higher.

The All Items Consumer Price Index for All Urban Consumers (CPI-U) in the San Francisco-Oakland-San Jose Consolidation Metropolitan Statistical Area measured 219.612 (1982-84=100) in February. The means a market basket of goods and services that cost $100.00 in 1982-84 would have cost $219.61 in February 2008.

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Last Modified Date: March 14, 2008