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News Release Information

23-2013-PHI
Wednesday, September 13, 2023

Contacts Technical information: Media contact:

Consumer Price Index, Philadelphia-Camden-Wilmington – August 2023

Area prices were up 0.8 percent over the past 2 months, up 3.9 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), advanced 0.8 percent in August, the U.S. Bureau of Labor Statistics reported today. Influenced by higher prices for shelter, a 0.6-percent rise in the all items less food and energy index led the overall increase as noted by Regional Commissioner Alexandra Hall Bovee. The energy index advanced 3.5 percent, whereas the food index reported no change. (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 was up 3.9 percent over the year and the index for all items less food and energy was mainly responsible, up 4.6 percent  due to rising shelter prices. (See chart 1 and table A.) Food prices were up 4.4 percent. The pace of decline in the energy index moderated with August’s 12-month decrease of just 3.4 percent after the June drop of 15.3 percent. (See table 1.)

Food

Food prices were unchanged for the 2 months ending in August. Prices for food away from home increased 0.9 percent while the food at home index continued to decline, down 0.5 percent. Leading the decrease was dairy and related products, down 4.2 percent (the largest decline since the index’s inception in 2018) due in part to falling prices for milk. Prices for cereals and bakery products were down 2.4 percent, the fruits and vegetable index fell 1.1 percent, and nonalcoholic beverages and beverage materials decreased 0.7 percent. The rest of the grocery categories tempered the decline in the food at home index, as other food at home rose 1.8 percent and prices for meats, poultry, fish, and eggs increased 0.2 percent.

Over the year, food prices rose 4.4 percent. Prices for food away from home advanced 6.9 percent since a year ago, and prices for food at home rose 2.8 percent. Most of the major grocery categories were up over the year. Leading the increase was the diverse other food at home index (up 5.9 percent) as well as nonalcoholic beverages and beverage materials prices, up 8.2 percent. Prices for fruits and vegetables rose 4.4 percent, cereals and bakery products advanced 1.4 percent, and dairy and related products prices increased 0.2 percent. Meats, poultry, fish, and eggs was the only category to decline, down 3.5 percent—the largest decline since the index began in 2018.

Energy

The energy index advanced 3.5 percent for the 2 months ending in August. The increase was mainly due to rising prices in the gasoline index (+7.2 percent). The fuel oil index also rose. Utility (piped) gas service increased 0.1 percent, whereas the electricity index fell 0.1 percent for the same period.

Energy prices decreased 3.4 percent over the year, largely due to a lower gasoline index (-8.8 percent) but fuel oil prices also declined, and the natural gas service index was down 10.4 percent. Offsetting the general declines, the electricity index was up 9.5 percent.

All items less food and energy

The index for all items less food and energy advanced 0.6 percent in the latest 2-month period. The rise was led by higher prices for shelter (0.9 percent) due largely to the owners’ equivalent rent of residences index (up 1.4 percent), followed by rent of primary residence (up 1.5 percent). Prices rose for education and communication up 1.6 percent, the largest price increase since August 2013 (+2.8 percent) — due to a 2.6-percent increase in tuition, other school fees, and childcare. Other major categories in the all items less food and energy index also increased: household furnishings and operations was up 1.5 percent, apparel was up 1.8 percent, and new and used motor vehicles up 0.9 percent. Partially offsetting the overall index rise were declines in the lodging away from home, other goods and services (-1.9 percent), medical care (-0.3 percent), and recreation (-0.2 percent) indexes.

Over the year, the index for all items less food and energy increased 4.6 percent. The recent increase was mainly driven by a 7.4-percent increase in the shelter index. Within shelter, the indexes for owners’ equivalent rent of residences advanced 7.4 percent and rent of primary residence rose 7.7 percent. Other categories also had increases. The household furnishings and operations index rose 6.0 percent; prices for other good and services rose 8.4 percent; education and communication up 2.0 percent; and recreation up 2.4 percent. Slightly tempering the overall increase was the medical care index down 1.5 percent—the largest over-the-year decline since the index began in 1970.

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 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

0.8 1.5 1.0 2.6 0.8 1.0 1.5 7.3 2.0 6.9

April

1.3 1.9 -1.3 -0.1 1.2 3.5 2.2 8.4 0.1 4.7

June

0.5 2.1 0.6 0.1 1.9 4.9 2.3 8.8 0.7 3.1

August

0.5 2.3 0.8 0.4 0.6 4.6 0.0 8.1 0.8 3.9

October

-0.4 1.9 0.0 0.8 1.0 5.6 0.6 7.8

December

-0.3 2.4 0.0 1.1 0.9 6.6 -0.4 6.4

The October 2023 Consumer Price Index for the Philadelphia-Camden-Wilmington area is scheduled to be released on November 14, 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, 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 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
Jun.
2023
Jul.
2023
Aug.
2023
Aug.
2022
Jun.
2023
Jul.
2023

All items

303.446   305.742 3.9 0.8  

All items (1967 = 100)

876.638   883.273      

Food and beverages

293.403   293.358 3.8 0.0  

Food

295.722   295.847 4.4 0.0  

Food at home

303.060 302.456 301.578 2.8 -0.5 -0.3

Cereals and bakery products

420.737 420.767 410.679 1.4 -2.4 -2.4

Meats, poultry, fish, and eggs

326.407 323.869 326.982 -3.5 0.2 1.0

Dairy and related products

244.999 236.855 234.758 0.2 -4.2 -0.9

Fruits and vegetables

304.917 308.436 301.499 4.4 -1.1 -2.2

Nonalcoholic beverages and beverage materials(1)

205.063 203.084 203.553 8.2 -0.7 0.2

Other food at home

290.087 292.051 295.207 5.9 1.8 1.1

Food away from home

277.082   279.624 6.9 0.9  

Alcoholic beverages

257.956   255.338 -3.6 -1.0  

Housing

320.882   323.937 6.5 1.0  

Shelter

394.690 396.131 398.086 7.4 0.9 0.5

Rent of primary residence

366.473 369.786 371.788 7.7 1.5 0.5

Owners' equivalent rent of residences(2)

401.961 405.869 407.564 7.4 1.4 0.4

Owners' equivalent rent of primary residence(2)

401.961 405.869 407.564 7.4 1.4 0.4

Fuels and utilities

270.444   273.223 0.9 1.0  

Household energy

223.376 223.274 225.845 0.7 1.1 1.2

Energy services

235.649 236.007 235.561 2.9 0.0 -0.2

Electricity

237.156 237.277 236.945 9.5 -0.1 -0.1

Utility (piped) gas service

214.732 215.610 214.934 -10.4 0.1 -0.3

Household furnishings and operations

142.447   144.647 6.0 1.5  

Apparel

110.360   112.350 0.1 1.8  

Transportation

267.233   271.899 0.9 1.7  

Private transportation

277.689   283.340 1.9 2.0  

New and used motor vehicles(3)

135.336   136.510 1.4 0.9  

New vehicles(1)

238.459   239.279 3.4 0.3  

Used cars and trucks(1)

376.927   369.749 -7.0 -1.9  

Motor fuel

329.023 335.633 352.600 -8.7 7.2 5.1

Gasoline (all types)

324.799 331.339 348.054 -8.8 7.2 5.0

Gasoline, unleaded regular(4)

320.482 327.195 343.957 -8.7 7.3 5.1

Gasoline, unleaded midgrade(4)(5)

335.533 340.554 356.261 -9.6 6.2 4.6

Gasoline, unleaded premium(4)

330.389 335.541 350.981 -9.0 6.2 4.6

Medical care

592.397   590.806 -1.5 -0.3  

Recreation(3)

134.754   134.441 2.4 -0.2  

Education and communication(3)

135.788   137.893 2.0 1.6  

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

1,114.433   1,143.332 3.5 2.6  

Other goods and services

697.167   683.713 8.4 -1.9  

Commodity and service group

Commodities

221.657   223.510 0.8 0.8  

Commodities less food and beverages

182.631   185.192 -0.9 1.4  

Nondurables less food and beverages

223.495   228.959 -2.7 2.4  

Durables

134.006   134.256 1.1 0.2  

Services

385.219   387.989 5.6 0.7  

Special aggregate indexes

All items less shelter

272.686   274.574 2.0 0.7  

All items less medical care

291.155   293.600 4.4 0.8  

Commodities less food

185.760   188.208 -1.0 1.3  

Nondurables

259.460   262.275 0.6 1.1  

Nondurables less food

225.747   230.770 -2.7 2.2  

Services less rent of shelter(2)

382.298   384.313 3.4 0.5  

Services less medical care services

369.323   372.344 6.5 0.8  

Energy

263.378 265.437 272.718 -3.4 3.5 2.7

All items less energy

310.794   312.530 4.6 0.6  

All items less food and energy

316.439   318.452 4.6 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: Wednesday, September 13, 2023