Tuesday, June 13, 2023
Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.3 percent in May, the U.S. Bureau of Labor Statistics reported today. (See table A.) The May increase was mainly influenced by a 0.3 percent rise in the all items less food and energy index. The food index increased 0.7 percent, while the energy index declined 1.2 percent. (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 3.7 percent. (See chart 1.) The index for all items less food and energy increased 5.0 percent over the year, while food prices rose 6.8 percent. Energy prices fell 13.0 percent, largely the result of declining prices for gasoline. (See table 1.)Food
Food prices were up 0.7 percent for the month of May. Prices for food at home rose 0.6 percent, and prices for food away from home rose 0.8 percent. Within the food at home category, prices paid for fruits and vegetables saw the largest increase, rising 2.5 percent over the month. The meats, poultry, fish and eggs index declined 0.8 percent, somewhat offsetting the rise.
Over the year, food prices rose 6.8 percent. Prices for food at home advanced 6.2 percent since a year ago, influenced most by 10.2-percent increases in both the other food at home and cereals and bakery products categories. Prices for food away from home increased 7.8 percent over the same period.Energy
The energy index decreased 1.2 percent over the month. The decrease was mainly due to lower prices for gasoline (-2.0 percent), but prices for natural gas service also declined (-1.2 percent). Prices for electricity increased 0.3 percent in the month of May.
From May 2022 to May 2023, energy prices fell 13.0 percent, largely due to lower prices for gasoline (-18.3 percent), but declining prices for natural gas service (-23.2 percent) also contributed. Prices paid for electricity rose 6.4 percent during the past year, partially offsetting the decline.All items less food and energy
The index for all items less food and energy advanced 0.3 percent in May, after rising 0.5 percent in April. Higher prices for shelter (+0.8 percent) and used cars and trucks (+3.1 percent) were responsible for almost all of the increase. Lower prices for medical care services (-0.8 percent), recreation (-0.6 percent) and apparel (-0.8 percent), among others, partly offset the rise.
Over the year, the index for all items less food and energy increased 5.0 percent. Components most contributing to the increase included owners’ equivalent rent of residences (+6.9 percent), rent of primary residence (+7.4 percent), and recreation (+5.9 percent). Declining prices for used cars and trucks (-3.6 percent) and public transportation partially offset the over-the-year increase.
The June 2023 Consumer Price Index for the Midwest Region is scheduled to be released on Wednesday, July 12, 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, June 13, 2023