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Tuesday, February 14, 2023
Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.8 percent in January, the U.S. Bureau of Labor Statistics reported today. (See table A.) The all items less food and energy index rose 0.6 percent in January, largely due to an increase in the index for owners’ equivalent rent of residences. The energy index was up 2.9 percent, driven mainly by rising gasoline prices. The food index rose 0.7 percent over the month. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)
Over the last 12 months, the CPI-U advanced 6.0 percent. (See chart 1.) The index for all items less food and energy rose 4.9 percent, while food prices advanced 11.0 percent compared to their January 2022 levels. Energy prices increased 8.2 percent, largely the result of an increase in the price of natural gas service. (See table 1.)Food
Food prices advanced 0.7 percent for the month of January. Prices for food at home (grocery store products) rose 0.9 percent, while prices for food away from home (restaurant, cafeteria, and vending purchases) increased by 0.4 percent during the same period. Within the food at home category, prices paid for other food at home (+0.9 percent) contributed the most to the over-the-month increase.
Over the year, food prices advanced 11.0 percent. Prices for food at home rose 11.9 percent since a year ago, mainly due to a 14.3-percent increase in other food at home (sugar, sweets, fats, and oils for example) and a 16.6-percent increase for cereals and bakery products. Prices for food away from home advanced 9.5 percent over the same period.Energy
The energy index advanced 2.9 percent over the month. The increase was almost entirely due to higher prices for gasoline (+7.1 percent), but prices paid for electricity (+1.2 percent) also contributed to the over-the-month increase. Partially offsetting the rise was a decrease in the index for natural gas service (-2.4 percent).
From January 2022 to January 2023, energy prices increased 8.2 percent, largely due to higher prices for natural gas service (+15.4 percent) and electricity (+8.9 percent). Prices for gasoline also advanced 5.0 percent for the same period.All items less food and energy
The index for all items less food and energy advanced 0.6 percent in January, after rising 0.1 percent in December. The increase was mainly due to higher prices for owners’ equivalent rent of residences (+0.5 percent), apparel (+3.9 percent), and household furnishings and operations (+0.9 percent). These rising prices were slightly offset by lower prices for used cars and trucks (-1.5 percent).
Over the year, the index for all items less food and energy rose 4.9 percent. Components most contributing to the increase included owners’ equivalent rent of residences (+6.6 percent), rent of primary residence (+7.1 percent), and recreation (+5.6 percent). Partly offsetting these increases was a decline in prices paid for used cars and trucks (-11.7 percent).
The February 2023 Consumer Price Index for the Midwest Region is scheduled to be released on Tuesday, March 14, 2023.
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 Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
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(1)
Fuels and utilities
Utility (piped) gas service(1)
Household furnishings and operations
New and used motor vehicles(3)
Used cars and trucks
Gasoline (all types)
Gasoline, unleaded regular(4)
Gasoline, unleaded premium(4)
Medical care commodities
Medical care services
Education and communication(3)
Tuition, other school fees, and child care(6)
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(2)
Services less medical care services
All items less energy
All items less food and energy
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Tuesday, February 14, 2023