Wednesday, July 12, 2023
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.3 percent in June, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the June increase was mostly due to a 0.3-percent rise in the all items less food and energy index, led by higher prices for shelter. The energy index rose 1.5 percent and the food index increased 0.2 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 increased 2.2 percent, the smallest over-the-year increase since March 2021, and well below the recent peak of 7.6 percent in June 2022. The June increase was mainly due to a 3.8-percent rise in the all items less food and energy index which was led by increases within the shelter index, like the over-the-month rise. (See chart 1 and table A.) This is the fourth consecutive month that the 12-month change in the all items index has been lower than the all items less food and energy index. The food index continued moderating, rising only 5.7 percent (down from a peak of 10.3 percent in October), while the energy index decreased 17.0 percent, down for the fourth consecutive month after over 2 years of 12-month increases which peaked at 44.2 percent in June 2022. (See table 1.)Food
In June, the food index was up 0.2 percent as prices for food away from home rose 0.6 percent. (See table 1.) Prices for food at home declined 0.1 percent as the grocery categories showed a mix of rising and falling prices Decreases included the fruits and vegetables index (down 1.1 percent); meats, poultry, fish, and eggs (down 0.3 percent); and cereals and bakery products (down 0.3 percent, the first decline since December 2022). Increases tempering the food at home decline were the other food at home index (up 0.6 percent), nonalcoholic beverages and beverage materials (up 0.6 percent), and dairy and related products (up 0.5 percent after three consecutive months of declines).
From June 2022 to June 2023, the food index increased 5.7 percent, the lowest index rise since December 2021. The food at home index rose 4.7 percent, the smallest index increase since October 2021. This was led by a 7.4-percent increase in the other food at home index. Prices for cereals and bakery products rose 9.0 percent, while nonalcoholic beverages and beverage materials increased 8.9 percent over the year. The food away from home index rose 7.6 percent.Energy
The energy index increased 1.5 percent in June after four consecutive months of declines. This was predominantly due to a 5.5-percent increase in prices for electricity, also up after four consecutive declines. Electricity prices have increased in June every year since the index began in 1978 except for June 2018. The gasoline index also rose, up 0.4 percent. Prices for utility (piped) gas decreased 2.9 percent; they have declined every month in 2023 so far.
Over the year, energy prices were down 17.0 percent, the largest decline since October 2015. A 26.5-percent decrease in the gasoline index was mainly responsible; it followed last month’s 21.2-percent decline. The fuel oil index decreased as did prices for utility (piped) gas, which were down 17.2 percent (the largest decrease since April 2015). Prices for electricity were up 7.0 percent over the year.All items less food and energy
The index for all items less food and energy rose 0.3 percent in June, the same as it had been for the previous two months. This rise was mostly due to a 0.5-percent increase in the shelter index; within shelter there was a 0.6-percent rise in the owners’ equivalent rent of residences category. Also in shelter, rent of primary residence was up 0.5 percent. The new and used motor vehicle index and the recreation index both rose 0.8 percent over the month. Countering the increases were declines in the apparel index (down 1.1 percent, as it typically decreases in June) and the medical care index (down 0.4 percent, led by a 0.4-percent decline in prices for medical care services).
Over the year, the index for all items less food and energy was up 3.8 percent. This increase was also mainly due to a rise in the shelter index, up 6.3 percent. Within shelter, the owners’ equivalent rent of residences index increased 6.2 percent and the rent of primary residences increased 6.6 percent. The 2.5-percent decrease in the medical care index and the 3.7-percent decrease of medical care services within that index slightly offset the overall all items less food and energy index increase.Geographic divisions
Additional price indexes are available for the two divisions of the Northeast. Over the month, the all items CPI-U index for the Middle Atlantic division increased 0.4 percent. The CPI-U for the New England division increased 0.2 percent.
Over the year, the all items index rose 2.4 percent in the Middle Atlantic division and 1.8 percent in the New England division. (See table B.)
|Area||1-month change||12-month change|
New England Division
Middle Atlantic Division
The July 2023 Consumer Price Index for the Northeast Region is scheduled to be released on August 10, 2023.
The Consumer Price Index for the Northeast Region is published monthly. 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, 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: Wednesday, July 12, 2023