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Wednesday, December 17, 2014
The Consumer Price Index for All Urban Consumers (CPI-U) in the Washington-Baltimore area declined 0.4 percent from September to November, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that a 9.4-percent drop in the energy index was partially offset by increases in the all items less food and energy (0.3 percent) and food (1.0 percent) indexes.. (Data in this report are not seasonally adjusted. Accordingly, two-month changes may reflect the impact of seasonal influences.)
Over the last 12 months, the CPI-U rose 1.2 percent, due mostly to a 1.7-percent advance in the all items less food and energy index.(See chart 1 and table A.) The food index also increased since November 2013, up 3.0 percent, while the energy index fell 7.7 percent. (See table 1.)
After being unchanged in September, the food index rose 1.0 percent over the last two months. Higher prices for beef and veal, as well as fresh vegetables, helped push food at home prices up 0.9 percent. Food away from home prices also increased, up 1.0 percent.
Food prices rose 3.0 percent over the year, as prices for both components also increased. Food at home prices increased 3.1 percent and those for food away from home advanced 2.8 percent since last November.
The energy index, which includes prices for household and transportation fuels, dropped 9.4 percent since September, led by falling gasoline prices. The 13.8-percent drop in gasoline prices was the largest two-month decline in nearly six years. A 6.0-percent seasonal decrease in electricity prices, as well as lower fuel oil prices, also contributed to the overall decline in the energy index. Moderating these decreases were higher utility (piped) gas service prices, up 1.6 percent over the last two months.
Energy prices decreased 7.7 percent over the year, due mostly to lower gasoline prices, down 12.1 percent. Both the electricity index and utility (piped) gas service index also decreased since November 2013, down 2.7 and 2.5 percent, respectively.
All items less food and energy
The index for all items less food and energy increased 0.3 percent since September, due mostly to higher shelter prices, up 1.0 percent. Moderating the overall rise in the all items less food and energy index were lower prices for apparel, down 5.4 percent.
Since November 2013, the index for all items less food and energy rose 1.7 percent. The advance was due largely to an over-the-year increase in shelter prices (3.1 percent), as the owners’ equivalent rent of residences index was up 2.9 percent. Lower prices for apparel (-1.1 percent), recreation (-0.2 percent), and medical care (-0.2 percent), moderated the increase in the all items less food and energy index since last November.
The January 2015 Consumer Price Index for Washington-Baltimore is scheduled to be released on February 26, 2015, at 8:30 a.m. (ET).
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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 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/cpi/.
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 Washington-Baltimore, D.C.-Md.-Va.-W.Va., Consolidated Metropolitan Statistical Area includes the District of Columbia; Baltimore City and the counties of Anne Arundel, Baltimore, Calvert, Carroll, Charles, Frederick, Harford, Howard, Montgomery, Prince George’s, Queen Anne’s, and Washington in Maryland; the cities of Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas, and Manassas Park and the counties of Arlington, Clarke, Culpeper, Fairfax, Fauquier, King George, Loudoun, Prince William, Spotsylvania, Stafford, and Warren in Virginia; and the counties of Berkeley and Jefferson in 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.
|Expenditure category||Indexes||Percent change from-|
|Sep. 2014||Oct. 2014||Nov. 2014||Nov. 2013||Sep. 2014||Oct. 2014|
All items (1)
Food and beverages (1)
Food at home
Food away from home (2)
Alcoholic beverages (2)
Owners' equivalent rent of residences (3)
Owners' equivalent rent of primary residence (3)
Fuels and utilities
Energy services (3)
Utility (piped) gas service (3)
Household furnishings and operations
Gasoline (all types)
Gasoline, unleaded regular (4)
Gasoline, unleaded midgrade (4)
Gasoline, unleaded premium (4)
Medical care (1)
Education and communication
Other goods and services (1)
|Commodity and service group|
Commodities less food and beverages
Nondurables less food and beverages
|Special aggregate indexes|
All items less medical care (1)
All items less shelter
Commodities less food
Nondurables less food
Services less rent of shelter
Services less medical care services
All items less energy
All items less food and energy (1)
Last Modified Date: Wednesday, December 17, 2014