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News Release Information

23-2014-PHI
Wednesday, September 13, 2023

Contacts Technical information: Media contact:

Consumer Price Index, Baltimore-Columbia-Towson – August 2023

Area prices were up 0.5 percent over the past two months, up 3.1 percent from a year ago

Prices in the Baltimore-Columbia-Towson area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 0.5 percent for the 2 months ending in August 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted the rise was due to the energy index which tracked its largest increase since the year began, up 4.8 percent, led by higher prices for gasoline. The all items less food and energy index advanced 0.1 percent and the food index was up 0.4 percent. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.) (See table A.)

Over the last 12 months, the CPI-U rose 3.1 percent, mostly due to a 3.1-percent rise in the all items less food and energy index. The food index increased 4.2 percent, the smallest increase in over a year and a half, and the energy index increased 2.4 percent after declining 11.9 percent over the year in June. (See chart 1 and table 1.)

Food

Food prices increased 0.4 percent for the 2 months ending in August 2023. The food at home index mostly contributed to the rise, up 0.6 percent due to higher prices for meats, poultry, fish, and eggs (1.6 percent, the largest increase since the year began), other food at home (0.7 percent), and nonalcoholic beverages and beverage materials (1.5 percent). Fruits and vegetables prices were up 0.2 percent and food away from home prices advanced 0.1 percent. Offsetting the increases were cereals and bakery products prices, down 1.0 percent, and prices for dairy and related products, down 0.6 percent.

Over the year, the food index rose 4.2 percent as prices for food away from home were up 6.9 percent. The food at home index increased 2.7 percent led by higher prices for other food at home (8.6 percent). Nonalcoholic beverages and beverage materials advanced 8.8 percent. Prices for meats, poultry, fish, and eggs increased 0.1 percent—the smallest over-the-year increase since the series began in 2018. The dairy and related products index rose 0.7 percent, well below February’s 10.1-percent rise; price increases have been decelerating since October 2022. Increases were tempered by a 1.1-percent decrease in fruits and vegetables prices and declining prices for cereals and bakery products (-1.4 percent).

Energy

In August, the energy index increased 4.8 percent, the largest increase since the year began. The rise was mainly due to advancing gasoline prices, up 9.4 percent — also the largest price increase of the year so far. The utility (piped) gas service index rose 5.2 percent after three consecutive bi-monthly declines this year. The electricity index was up 0.1 percent—the smallest 2-month price increase since December 2020.

From August 2022 to August 2023 the energy index gained 2.4 percent over the year. The increase was largely due to rising prices for electricity, up 17.7 percent – in line with a virtually unbroken string of double-digit 12-month increases from the end of 2021 through August. Offsetting the overall index was the gasoline index, down 2.9 percent, and the utility (piped) gas service index, down 29.4 percent—the largest over-the-year decline since 2009.

All items less food and energy

The index for all items less food and energy rose 0.1 percent in the latest 2-month period due in large part to higher prices for shelter (up 0.8 percent), household furnishings and operations (up 1.7 percent), and education and communication (up 1.1 percent). Within shelter, prices increased for the owners' equivalent rent of residences index (up 0.9 percent) and the rent of primary residence index (up 1.3 percent). Lodging away from home prices fell. Within the education and communication index, prices for tuition, other school fees, and childcare increased 2.9 percent —the largest price rise since August 2021 (3.1 percent). Moderating the overall increase were lower prices for medical care (down 3.6 percent— the largest decline since June 2020), used cars and trucks (down 1.9 percent), and public transportation.

Over the year, the all items less food and energy advanced 3.1 percent. Shelter prices were up 4.5 percent largely due to a 4.9-percent rise in the owners’ equivalent rent of residences index and a 5.2 percent increase in rent of primary residence. Lodging away from home prices fell while household furnishings and operation prices increased 4.4 percent in the same period. Other components contributing to the overall increase were higher prices for recreation (3.2 percent), other goods and services (6.3 percent), and new vehicles (2.7 percent). Medical care and prices for used cars and trucks countered the overall increase, down 1.0 percent and 7.0 percent respectively.

Table A. Baltimore-Columbia-Towson, MD, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2019 2020 2021 2022 2023
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

0.5 0.8 0.5 1.8 0.1 1.1 1.3 9.3 1.2 6.1

April

1.7 2.6 -0.1 0.1 1.8 2.9 1.6 9.1 0.7 5.3

June

-0.8 1.0 -0.4 0.4 1.1 4.5 2.6 10.6 0.2 2.8

August

0.3 1.1 0.5 0.7 0.5 4.5 0.1 10.2 0.5 3.1

October

0.1 1.0 0.6 1.3 2.3 6.3 0.7 8.4

December

0.1 1.8 0.2 1.4 1.8 8.0 -0.1 6.3

The October 2023 Consumer Price Index for the Baltimore-Columbia-Towson area is scheduled to be released on November 14, 2023.


Technical Note

The Consumer Price Index for Baltimore-Columbia-Towson is published bi-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, 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 5,000 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 Baltimore-Columbia-Towson, MD, Core Based Statistical Area includes Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne’s counties, as well as Baltimore City, in Maryland.

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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Baltimore-Columbia-Towson, MD, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Historical
data
Jun.
2023
Jul.
2023
Aug.
2023
Aug.
2022
Jun.
2023
Jul.
2023

All items

306.506   307.978 3.1 0.5  

Food and beverages

324.946   326.189 4.4 0.4  

Food

324.755   326.131 4.2 0.4  

Food at home

287.722 291.361 289.406 2.7 0.6 -0.7

Cereals and bakery products

356.526 359.878 352.860 -1.4 -1.0 -2.0

Meats, poultry, fish, and eggs

290.103 292.914 294.867 0.1 1.6 0.7

Dairy and related products

275.015 276.545 273.233 0.7 -0.6 -1.2

Fruits and vegetables

310.077 314.433 310.736 -1.1 0.2 -1.2

Nonalcoholic beverages and beverage materials(1)

214.161 224.150 217.335 8.8 1.5 -3.0

Other food at home

274.650 275.718 276.557 8.6 0.7 0.3

Food away from home

376.173   376.732 6.9 0.1  

Alcoholic beverages

324.038   323.220 7.6 -0.3  

Housing(1)

305.274   308.202 4.9 1.0  

Shelter

356.180 358.261 358.991 4.5 0.8 0.2

Rent of primary residence

410.981 413.265 416.262 5.2 1.3 0.7

Owners' equivalent rent of residences(2)

375.110 376.430 378.468 4.9 0.9 0.5

Owners' equivalent rent of primary residence(2)

375.110 376.430 378.468 4.9 0.9 0.5

Fuels and utilities

296.353   300.826 8.3 1.5  

Household energy

263.305 263.775 265.058 7.7 0.7 0.5

Energy services

284.270 285.156 285.680 10.3 0.5 0.2

Electricity

270.650 270.879 270.879 17.7 0.1 0.0

Utility (piped) gas service

198.369 204.133 208.678 -29.4 5.2 2.2

Household furnishings and operations

142.768   145.198 4.4 1.7  

Apparel

131.112   130.776 2.0 -0.3  

Transportation

275.872   278.513 0.2 1.0  

Private transportation

281.972   285.717 -0.3 1.3  

New and used motor vehicles(3)

141.298   140.506 0.3 -0.6  

New vehicles(1)

281.281   281.046 2.7 -0.1  

Used cars and trucks(1)

352.829   346.110 -7.0 -1.9  

Motor fuel

301.808 315.199 330.417 -2.9 9.5 4.8

Gasoline (all types)

294.969 308.153 322.612 -2.9 9.4 4.7

Gasoline, unleaded regular(4)

298.745 312.239 326.794 -2.9 9.4 4.7

Gasoline, unleaded midgrade(4)(5)

317.648 329.741 345.556 -3.1 8.8 4.8

Gasoline, unleaded premium(4)

300.836 313.438 328.861 -2.0 9.3 4.9

Medical care

516.911   498.532 -1.0 -3.6  

Recreation

142.026   142.613 3.2 0.4  

Education and communication(3)

160.585   162.404 1.6 1.1  

Tuition, other school fees, and child care(1)

1,315.636   1,353.793 3.1 2.9  

Other goods and services

521.169   525.665 6.3 0.9  

Commodity and service group

Commodities

232.294   234.010 1.9 0.7  

Commodities less food and beverages

189.546   191.292 0.8 0.9  

Nondurables less food and beverages

233.166   239.584 1.4 2.8  

Durables

138.573   138.282 0.9 -0.2  

Services

378.345   379.496 3.8 0.3  

Special aggregate indexes

All items less shelter

288.567   289.496 2.4 0.3  

All items less medical care

296.067   298.507 3.5 0.8  

Commodities less food

193.762   195.478 1.0 0.9  

Nondurables

274.865   278.699 2.6 1.4  

Nondurables less food

238.104   244.119 1.7 2.5  

Services less rent of shelter(2)

417.027   415.655 2.7 -0.3  

Services less medical care services

365.193   368.094 4.6 0.8  

Energy(1)

290.297 296.642 304.289 2.4 4.8 2.6

All items less energy

309.747   310.251 3.2 0.2  

All items less food and energy

307.511   307.881 3.1 0.1  

Footnotes
(1) Indexes on a March 1978=100 base.
(2) Indexes on a November 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

 

Last Modified Date: Wednesday, September 13, 2023