Thursday, November 10, 2022
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.3 percent in October, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the October increase was predominantly due to higher prices for food; the food index rose 1.0 percent. The all items less food and energy index was up 0.2 percent, and the energy index rose by 0.3 percent. (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 Northeast all items CPI-U index rose 6.9 percent— the smallest 12-month increase since February. (See chart 1 and table A.) The all items less food and energy index, up 5.2 percent, was largely responsible for the over-the-year increase in October. The food index increased 10.3 percent over the year with 12-month increases across all food components and the energy index advanced 19.2 percent. (See table 1.)Food
Food prices rose 1.0 percent for the month of October. (See table 1.) Of the two major components within the food index, prices for food away from home increased 1.3 percent, the same as in September, which was the highest 1-month increase since the series started in 1987. Food at home prices advanced 0.8 percent, with price increases for cereals and bakery products leading at 2.0 percent. Prices rose 0.7 percent for both the other food at home category and meats, poultry, fish, and eggs. A decrease of 0.2 percent in prices for fruits and vegetables partially offset these increases.
From October 2021 to October 2022, the food index increased 10.3 percent, the highest over-the-year rise in over 40 years. Prices for food at home advanced 11.9 percent since a year ago. This advance was led by an increase of 14.0 percent for other food at home and a 17.1 percent rise in cereals and bakery products—the highest 12-month increase for each index since they began reporting in 2018. Prices for food away from home increased 7.7 percent, the largest increase in over 40 years.Energy
The energy index increased following 4 months of decline, up 0.3 percent over the month due to rises in the fuel oil index. Gasoline prices continued to decline, down 2.0 percent in October, moderating the increase. The index for utility (piped) gas service also fell, down 3.0 percent over the month following a 4.4 percent increase in September, and the electricity index declined 0.9 percent.
Energy prices increased over the year, up 19.2 percent – the smallest 12-month increase since April 2021 and well below the recent peak of 44.2 percent in June. Over the year, prices for electricity were up 17.7 percent, the fuel oil index rose, and the utility (piped) gas service index was up 26.3 percent, ending 5 consecutive months of increases over 30.0 percent. Gasoline prices rose 9.2 percent—the smallest 12-month increase since February 2021 and notably below the 60.0 percent peak in June.All items less food and energy
The index for all items less food and energy increased 0.2 percent in October. Rising prices for shelter (up 0.5 percent) were most of the reason for the increase. The indexes for owners' equivalent rent of residences and for rent of primary residence (each up 0.5 percent after two 1-month increases of 0.6 percent) contributed to the increase of the shelter index. Recreation prices (up 0.7 percent) contributed to the all items less food and energy increase. Lower prices for used cars and trucks (down 2.4 percent following a 4.0 percent decline in September), medical care (down 0.5 percent—the first decrease since June 2021), and apparel (down 1.2 percent) partially offset the overall rise.
Over the year, the index for all items less food and energy increased 5.2 percent. The 12-month increases in the shelter index (up 4.8 percent – the largest increase since January 2007), the new and used motor vehicles index (up 9.2 percent – the smallest 12-month rise since March 2021), the medical care index (up 5.4 percent following a 6.1 increase in September), and household furnishings and operations (up 7.0 percent) contributed to the increase in the all items less food and energy index. Within the shelter index, gains were led by the index for owners’ equivalent rent of residences (up 4.6 percent— the highest 12-month increase since March 2007) and rent of primary residence (up 4.8 percent). The medical care services index increased 6.4 percent, contributing to the rise in the medical care index. Prices for new vehicles were up 7.1 percent, leading the new and used motor vehicles index gains.Geographic divisions
Additional price indexes are now available for the two divisions of the Northeast. Over the month, the all items CPI-U index for the New England division increased by 0.5 percent. For the Middle Atlantic division, the all items CPI-U index rose by 0.2 percent.
Over the year, the all items index advanced 7.0 percent in the New England division and 6.8 percent in the Middle Atlantic division. (See table B.)
|Area||1-month change||12-month change|
New England Division
Middle Atlantic Division
The November 2022 Consumer Price Index for the Northeast Region is scheduled to be released on December 13, 2022.
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 93 percent of the total U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 75 urban areas across the country from about 6,000 housing units and approximately 22,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods 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 Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
The New England division is comprised of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
The Middle Atlantic division is comprised of New Jersey, New York, and Pennsylvania.
Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.
|Expenditure category||Indexes||Percent change from|
All items (December 1977 = 100)
Food and beverages
Food at home
Cereals and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials
Other food at home
Food away from home
Rent of primary residence
Owners' equivalent rent of residences(1)
Owners' equivalent rent of primary residence(1)
Fuels and utilities
Utility (piped) gas service
Household furnishings and operations
New and used motor vehicles(2)
Used cars and trucks
Gasoline (all types)
Gasoline, unleaded regular(3)
Gasoline, unleaded premium(3)
Medical care commodities
Medical care services
Education and communication(2)
Tuition, other school fees, and child care(5)
Other goods and services
Commodity and service group
Commodities less food and beverages
Nondurables less food and beverages
Special aggregate indexes
All items less shelter
All items less medical care
Commodities less food
Nondurables less food
Services less rent of shelter(1)
Services less medical care services
All items less energy
All items less food and energy
Last Modified Date: Thursday, November 10, 2022