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News Release Information

22-2174-PHI
Thursday, November 10, 2022

Contacts Technical information: Media contact:

Consumer Price Index, Philadelphia-Camden-Wilmington – October 2022

Area prices were up 0.6 percent over the past 2 months, up 7.8 percent from a year ago

Prices in the Philadelphia-Camden-Wilmington area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.6 percent for the 2 months ending in October 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that this increase was led by a 1.3 percent increase in the shelter index as both the owners equivalent rent of residences and rent of primary residence indexes rose. Overall, increases in the all items less food and energy index and in the food index were slightly offset by a decrease in the energy index. (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 CPI-U advanced 7.8 percent, a somewhat more moderate pace than in August (8.8 percent). (See chart 1 and table A.)The energy price index increase of 22.2 percent over the year was the lowest since last year and well below the peak of 46.0 percent in June. The index for all items less food and energy rose 5.8 percent, the same as in August but food prices continued to rise as they advanced 13.1 percent, the fastest 12-month rate in that series since 1974. (See table 1.)

Food

Food prices increased 2.5 percent for the 2 months ending in October. Within the food index, the 3.4-percent rise in prices for food away from home marked the highest 2-month increase in that index since June 1980. In contrast, the 2.0 percent increase in prices for food at home was the smallest since a peak of 3.7 percent in February. Among the grocery categories, the other food at home index was up only 2.6 percent after a 6.7 percent peak in August but the fruits and vegetables index was up 4.3 percent after declines in June and August.

Over the year, food prices rose 13.1 percent —the largest increase in 48 years— part of a consistent pattern of 12-month growth since June 2018. Prices for food at home advanced 16.6 percent since a year ago, slightly down from the 16.9 percent increase in August. All major grocery categories were up over the year, led by price increases for other food at home (22.7 percent). Prices for food away from home were up 7.8 percent, the largest index increase in 40 years.  

Energy

The energy index continued to moderate as it decreased 1.7 percent for the 2 months ending in October, following the 9.2 percent decline in August. The decrease was mainly due to continuing lower prices for gasoline (-10.6 percent). The electricity index decreased 0.3 percent for the same period while the utility (piped) gas services index was up 2.7 percent. Both gasoline and utility (piped) gas had peak increases in June, up 19.2 and 15.6 percent, respectively. The fuel oil index advanced as well.

Energy prices increased 22.2 percent over the year, the lowest bimonthly rise since last year. All major energy categories were up over the year; the electricity index increased 18.7 percent and the index for utility (piped) gas service was up 37.5 percent. The gasoline index increased 11.1 percent over the year, the lowest since the February 2021 rise of 9.6 percent.

All items less food and energy

The index for all items less food and energy increased 0.6 percent in the latest 2-month period, the lowest increase so far in 2022. Higher prices for shelter (1.3 percent), public transportation, and recreation (1.1 percent) were partially offset by lower indexes for new and used motor vehicles (-1.4 percent), alcoholic beverages (down 5.4 percent—the largest decline since the series began in 1976), and apparel (-1.4 percent). The shelter index increase was largely due to a 1.2-percent rise in the index for owners’ equivalent rent of residences while the rent of primary residence index was up 1.5 percent.

Over the year, the index for all items less food and energy rose 5.8 percent; since October 2021, 12-month increases have ranged from 5.6 to 6.3 percent. The recent increase was mainly driven by a 7.4-percent increase in the shelter index, the largest since 2002. Within shelter, the index for owners’ equivalent rent of residences advanced 7.2 percent, following a pattern of acceleration so far in 2022. The medical care index continued to rise, up 6.4 percent over the year, the largest increase since February. The new and used motor vehicles index continued to moderate, up only 5.2 percent, down from the series high of 28.8 percent in February 2022.

Table A. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2018 2019 2020 2021 2022
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

0.4 0.5 0.8 1.5 1.0 2.6 0.8 1.0 1.5 7.3

April

0.9 1.4 1.3 1.9 -1.3 -0.1 1.2 3.5 2.2 8.4

June

0.2 1.9 0.5 2.1 0.6 0.1 1.9 4.9 2.3 8.8

August

0.3 1.7 0.5 2.3 0.8 0.4 0.6 4.6 0.0 8.1

October

0.0 1.6 -0.4 1.9 0.0 0.8 1.0 5.6 0.6 7.8

December

-0.7 1.0 -0.3 2.4 0.0 1.1 0.9 6.6

The December 2022 Consumer Price Index for the Philadelphia-Camden-Wilmington area is scheduled to be released on January 12, 2023.


Technical Note

The Consumer Price Index for Philadelphia-Camden-Wilmington 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, Core Based Statistical Area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Burlington, Camden, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County 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, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Historical
data
Aug.
2022
Sep.
2022
Oct.
2022
Oct.
2021
Aug.
2022
Sep.
2022

All items

294.130   295.978 7.8 0.6  

All items (1967 = 100)

849.726   855.065      

Food and beverages

282.714   287.944 12.5 1.8  

Food

283.470   290.526 13.1 2.5  

Food at home

293.263 296.926 299.016 16.6 2.0 0.7

Cereals and bakery products

405.123   406.353 20.3 0.3  

Meats, poultry, fish, and eggs

338.689   340.429 12.4 0.5  

Dairy and related products

234.292   233.041 15.4 -0.5  

Fruits and vegetables

288.696   301.199 14.7 4.3  

Nonalcoholic beverages and beverage materials(1)

188.076   196.714 10.2 4.6  

Other food at home

278.724   285.874 22.7 2.6  

Food away from home

261.602   270.383 7.8 3.4  

Alcoholic beverages

264.976   250.626 3.9 -5.4  

Housing

304.107   308.836 9.1 1.6  

Shelter

370.783 373.102 375.426 7.4 1.3 0.6

Rent of primary residence

345.241 348.014 350.260 7.1 1.5 0.6

Owners' equivalent rent of residences(2)

379.360 381.977 383.823 7.2 1.2 0.5

Owners' equivalent rent of primary residence(2)

379.360 381.977 383.823 7.2 1.2 0.5

Fuels and utilities

270.792   282.518 27.5 4.3  

Household energy

224.244 227.801 236.122 31.3 5.3 3.7

Energy services

229.016 230.975 230.924 24.8 0.8 0.0

Electricity

216.436 220.742 215.887 18.7 -0.3 -2.2

Utility (piped) gas service

239.951 237.305 246.455 37.5 2.7 3.9

Household furnishings and operations

136.446   137.373 3.9 0.7  

Apparel

112.289   110.662 1.6 -1.4  

Transportation

269.439   264.032 8.4 -2.0  

Private transportation

278.119   270.915 7.5 -2.6  

New and used motor vehicles(3)

134.622   132.684 5.2 -1.4  

New vehicles(1)

231.492   233.374 5.5 0.8  

Used cars and trucks(1)

397.761   371.763 2.1 -6.5  

Motor fuel

386.377 344.327 345.483 11.2 -10.6 0.3

Gasoline (all types)

381.473 339.881 340.948 11.1 -10.6 0.3

Gasoline, unleaded regular(4)

376.553 334.370 335.985 10.6 -10.8 0.5

Gasoline, unleaded midgrade(4)(5)

393.961 357.618 354.261 13.9 -10.1 -0.9

Gasoline, unleaded premium(4)

385.578 351.148 348.560 14.4 -9.6 -0.7

Medical care

599.558   601.113 6.4 0.3  

Recreation(3)

131.309   132.715 3.5 1.1  

Education and communication(3)

135.140   135.368 -0.6 0.2  

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

1,104.177   1,108.409 1.9 0.4  

Other goods and services

630.883   619.874 3.9 -1.7  

Commodity and service group

Commodities

221.715   221.868 9.1 0.1  

Commodities less food and beverages

186.860   185.049 7.1 -1.0  

Nondurables less food and beverages

235.349   231.011 11.3 -1.8  

Durables

132.741   132.791 2.7 0.0  

Services

367.300   370.752 7.1 0.9  

Special aggregate indexes

All items less shelter

269.187   269.976 8.0 0.3  

All items less medical care

281.209   283.067 7.9 0.7  

Commodities less food

190.089   187.867 7.0 -1.2  

Nondurables

260.582   260.797 12.0 0.1  

Nondurables less food

237.236   232.176 10.8 -2.1  

Services less rent of shelter(2)

371.543   373.623 6.6 0.6  

Services less medical care services

349.555   353.201 7.4 1.0  

Energy

282.327 271.379 277.635 22.2 -1.7 2.3

All items less energy

298.864   301.327 6.7 0.8  

All items less food and energy

304.443   306.184 5.8 0.6  

Footnotes
(1) Indexes on a December 1977=100 base
(2) Indexes on a December 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: Thursday, November 10, 2022