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Friday, July 14, 2017

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Consumer Price Index, Denver-Boulder-Greeley – First Half 2017

Prices increased 3.1 percent from the first half of 2016 to the first half of 2017

The Consumer Price Index for All Urban Consumers (CPI-U) for the Denver-Boulder-Greeley, Colo., metropolitan area increased 3.1 percent from the first half of 2016 to the first half of 2017, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Stanley W. Suchman noted that higher costs for shelter (5.3 percent) had the greatest impact on the index. The all items less food and energy index, which includes shelter, advanced 2.7 percent over the year. Food prices rose 2.1 percent while the energy index advanced 11.9 percent.

Chart 1. Over-the-year percent change in CPI-U, Denver, first half 2014 - first half 2017

Food

Food prices rose 2.1 percent from the first half of 2016 to the first half of 2017 after registering little change (0.1 percent) in the same period one year ago. Higher prices for food away from home led the advance with an increase of 4.6 percent—the largest over-the-year gain since the second half of 2008. Prices for food at home crept up 0.2 percent over the year. Comparatively, from the first half of 2015 to the first half of 2016, prices for food at home declined 0.6 percent while costs for food away from home increased 1.0 percent.

Energy

The energy index, which includes motor fuel and household fuels, advanced 11.9 percent from the first half of 2016 to the first half of 2017, following a decrease of 10.4 percent in the same period one year ago. Higher prices for gasoline (16.0 percent) were largely responsible for the increase in the energy component. Prices for electricity and utility (piped) gas service also contributed to the increase with gains of 6.6 and 9.3 percent, respectively. During the same period one year ago, gasoline prices fell 13.7 percent, electricity prices declined 3.4 percent and costs for utility (piped) gas service were down 11.1 percent.

All items less food and energy

The index for all items less food and energy rose 2.7 percent from the first half of 2016 to the first half of 2017. Shelter costs had the greatest upward impact on the index with a gain of 5.3 percent after rising 7.6 percent in the same period one year ago. Other expenditure categories that registered higher prices over the year included recreation (3.5 percent) and medical care (1.9 percent).

The Denver CPI-U stood at 252.760 for the first half of 2017. This means that a market basket of goods and services that cost $100.00 in the 1982-84 base period cost $252.76 in the first half of 2017. Because metropolitan area CPI data are not adjusted for seasonal price variation, consumers and businesses should be cautious in drawing conclusions about long-term retail price trends from short-term changes in the area indexes.

CPI-W

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the Denver-Boulder-Greeley, Colo., metropolitan area for the first half of 2017 was 241.689. The CPI-W increased 3.2 percent from the first half of 2016 to the first half of 2017.

The Consumer Price Index for the Second Half of 2017 is scheduled to be released in January 2018.

Consumer Price Index Geographic Revision for 2018

In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). This index will change to a bimonthly publication schedule beginning in January, 2018. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: www.bls.gov/cpi/georevision2018.htm.  


Technical Note

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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 percent of the total 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 87 urban areas across the country from about 6,000 housing units and approximately 24,000 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 (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. This change can also be expressed in dollars as follows: the price of a base period "market basket" of goods and services in the CPI has risen from $10 in 1982-84 to $11.65. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at www.bls.gov/opub/hom/homch17_a.htm.

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 areas; they only measure the average change in prices for each area since the base period.

The Denver-Boulder-Greeley, Colo., Metropolitan Statistical Area includes Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson, and Weld Counties in Colorado.

Information in this release will be made available to sensory impaired individuals upon requestVoice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes for semiannual averages and percent changes for selected periods

Denver-Boulder-Greeley, CO (1982-84=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to
1st half 2017 from-
1st half
2016
2nd half
2016
1st half
2017
1st half
2016
2nd half
2016

Expenditure category

 
 

All Items

245.191 248.095 252.760 3.1 1.9

All items (1967=100)

817.610 827.292 842.848    

Food and beverages

224.530 224.091 229.067 2.0 2.2

Food

227.741 227.203 232.618 2.1 2.4

Food at home

223.946 222.169 224.394 0.2 1.0

Food away from home

232.749 233.853 243.499 4.6 4.1

Alcoholic beverages

199.326 200.065 200.028 0.4 0.0

Housing

240.077 246.318 252.354 5.1 2.5

Shelter

276.332 283.244 290.950 5.3 2.7

Rent of primary residence(1)

286.285 293.807 300.287 4.9 2.2

Owners' equiv. rent of residences(1)(2)

269.430 277.153 284.845 5.7 2.8

Owners' equiv. rent of primary residence(1)(2)

269.430 277.153 284.845 5.7 2.8

Fuels and utilities

217.851 231.863 233.595 7.2 0.7

Household energy

152.934 163.152 164.590 7.6 0.9

Energy services(1)

151.995 162.349 163.451 7.5 0.7

Electricity(1)

159.892 170.539 170.473 6.6 0.0

Utility (piped) gas service(1)

139.428 149.344 152.455 9.3 2.1

Household furnishings and operations

113.338 113.084 114.643 1.2 1.4

Apparel

106.257 103.013 99.003 -6.8 -3.9

Transportation

235.174 238.249 244.718 4.1 2.7

Private transportation

227.926 231.242 235.850 3.5 2.0

Motor fuel

164.514 179.912 190.957 16.1 6.1

Gasoline (all types)

163.465 178.652 189.597 16.0 6.1

Gasoline, unleaded regular(3)

157.649 172.298 183.156 16.2 6.3

Gasoline, unleaded midgrade(3)(4)

165.068 180.051 190.075 15.1 5.6

Gasoline, unleaded premium(3)

184.129 201.278 211.872 15.1 5.3

Medical Care

532.513 539.710 542.666 1.9 0.5

Recreation(5)

155.196 154.141 160.585 3.5 4.2

Education and communication(5)

126.914 125.722 123.867 -2.4 -1.5

Other goods and services

357.784 356.968 352.192 -1.6 -1.3
 

Commodity and Service Group

 
 

All Items

245.191 248.095 252.760 3.1 1.9

Commodities

166.683 166.325 167.500 0.5 0.7

Commodities less food & beverages

137.173 136.861 136.333 -0.6 -0.4

Nondurables less food & beverages

160.177 161.990 161.347 0.7 -0.4

Durables

113.324 111.049 110.637 -2.4 -0.4

Services

313.759 319.957 328.053 4.6 2.5
 

Special aggregate indexes:

 
 

All items less medical care

231.897 234.609 239.291 3.2 2.0

All items less shelter

230.473 231.424 234.612 1.8 1.4

Commodities less food

139.615 139.336 138.822 -0.6 -0.4

Nondurables

192.590 193.339 195.388 1.5 1.1

Nondurables less food

162.734 164.477 163.874 0.7 -0.4

Services less rent of shelter(2)

365.129 369.432 377.617 3.4 2.2

Services less medical care services

295.219 301.501 309.703 4.9 2.7

Energy

155.388 167.858 173.818 11.9 3.6

All items less energy

254.500 256.663 261.265 2.7 1.8

All items less food and energy

260.025 262.726 267.170 2.7 1.7

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Index is on a November 1982=100 base.
(3) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.
 

Table 2. Consumer Price Index for Wage Earners and Clerical Workers (CPI-W): Indexes for semiannual averages and percent changes for selected periods

Denver-Boulder-Greeley, CO (1982-84=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to
1st half 2017 from-
1st half
2016
2nd half
2016
1st half
2017
1st half
2016
2nd half
2016

Expenditure category

 
 

All Items

234.248 237.407 241.689 3.2 1.8

All items (1967=100)

779.702 790.215 804.468    

Food and beverages

226.124 225.556 230.377 1.9 2.1

Food

229.441 228.762 233.867 1.9 2.2

Food at home

225.051 223.348 225.113 0.0 0.8

Food away from home

236.510 237.641 248.617 5.1 4.6

Alcoholic beverages

204.451 205.924 206.146 0.8 0.1

Housing

233.873 240.059 245.846 5.1 2.4

Shelter

264.809 271.405 278.579 5.2 2.6

Rent of primary residence(1)

286.285 293.807 300.287 4.9 2.2

Owners' equiv. rent of residences(1)(2)

251.526 258.736 265.916 5.7 2.8

Owners' equiv. rent of primary residence(1)(2)

251.526 258.736 265.916 5.7 2.8

Fuels and utilities

211.457 225.042 226.611 7.2 0.7

Household energy

151.778 162.018 163.289 7.6 0.8

Energy services(1)

152.252 162.624 163.735 7.5 0.7

Electricity(1)

159.892 170.538 170.472 6.6 0.0

Utility (piped) gas service(1)

139.430 149.345 152.456 9.3 2.1

Household furnishings and operations

119.453 119.143 121.626 1.8 2.1

Apparel

105.544 103.834 100.087 -5.2 -3.6

Transportation

233.772 239.213 246.935 5.6 3.2

Private transportation

228.587 234.169 240.824 5.4 2.8

Motor fuel

164.725 180.080 191.123 16.0 6.1

Gasoline (all types)

163.463 178.650 189.594 16.0 6.1

Gasoline, unleaded regular(3)

157.652 172.301 183.159 16.2 6.3

Gasoline, unleaded midgrade(3)(4)

165.068 180.051 190.075 15.1 5.6

Gasoline, unleaded premium(3)

184.154 201.305 211.901 15.1 5.3

Medical Care

536.704 543.516 545.846 1.7 0.4

Recreation(5)

133.633 132.771 136.663 2.3 2.9

Education and communication(5)

120.633 119.256 116.086 -3.8 -2.7

Other goods and services

360.636 358.079 350.222 -2.9 -2.2
 

Commodity and Service Group

 
 

All Items

234.248 237.407 241.689 3.2 1.8

Commodities

169.564 169.457 171.022 0.9 0.9

Commodities less food & beverages

139.011 139.155 138.955 0.0 -0.1

Nondurables less food & beverages

165.352 167.649 167.376 1.2 -0.2

Durables

109.859 107.777 107.655 -2.0 -0.1

Services

298.989 305.776 313.010 4.7 2.4
 

Special aggregate indexes:

 
 

All items less medical care

222.695 225.708 229.971 3.3 1.9

All items less shelter

221.947 223.606 226.634 2.1 1.4

Commodities less food

141.136 141.314 141.124 0.0 -0.1

Nondurables

198.723 199.554 201.928 1.6 1.2

Nondurables less food

167.683 169.946 169.697 1.2 -0.1

Services less rent of shelter(2)

328.328 334.608 341.166 3.9 2.0

Services less medical care services

280.954 287.703 294.871 5.0 2.5

Energy

159.818 172.686 178.778 11.9 3.5

All items less energy

242.845 245.188 249.352 2.7 1.7

All items less food and energy

246.030 249.118 253.047 2.9 1.6

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Index is on a November 1984=100 base.
(3) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.
 

 

Last Modified Date: Friday, July 14, 2017