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Consumer Price Index, Midwest Region – February 2024

Area prices rose 0.6 percent in February, up 2.8 percent over the year

Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.6 percent in February, the U.S. Bureau of Labor Statistics reported today. (See table A.) The February increase was led by a 0.4 percent rise in the all items less food and energy index, with higher prices for owners’ equivalent rent contributing most to the rise. The index for energy had a 4.0-percent increase over the month, while the index for food saw no change. (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 2.8 percent. (See chart 1.) The index for all items less food and energy rose 3.4 percent over the year, while food prices increased 2.2 percent. Energy prices fell 3.1 percent, led by a decrease in the price of gasoline. (See table 1.)

Food

Food prices were unchanged for the month of February. Prices for food at home (grocery store prices) were unchanged, while prices for food away from home (restaurant, cafeteria, and vending purchases) declined 0.1 percent for the same period. Rising prices within the food at home index included, meats, poultry, fish, and eggs, as well as nonalcoholic beverages and beverage materials, which advanced 0.5 percent and 0.3 percent, respectively. Offsetting the rise were declining prices for other food at home (-0.4 percent) and fruits and vegetables (-0.2 percent).

Over the year, food prices advanced 2.2 percent. Prices for food away from home rose 3.9 percent, and prices for food at home increased 1.1 percent for the same period. Other food at home (+1.9 percent) and nonalcoholic beverages and beverage materials (+3.9 percent) contributed most to the over-the-year increase.

Energy

The energy index rose 4.0 percent over the month. The increase was almost entirely due to higher prices for gasoline (+8.0 percent), but higher prices for natural gas service (+1.5 percent) also contributed. Electricity prices were unchanged over the month.

From February 2023 to February 2024, energy prices fell 3.1 percent. The decline was due to falling prices for gasoline (-5.0 percent) and natural gas service (-11.3 percent). Slightly offsetting the decline was an increase in prices paid for electricity (+4.5 percent).

All items less food and energy

The index for all items less food and energy advanced 0.4 percent in February. Higher prices for owners’ equivalent rent (+0.4 percent), apparel (+3.1 percent), and other goods and services (+1.3 percent) contributed the most to the increase. Partly offsetting the rise was a decline in prices paid for medical care services (-0.9 percent).

Over the year, the index for all items less food and energy advanced 3.4 percent. Components which contributed most to the increase included owners’ equivalent rent of residences (+6.5 percent), rent of primary residence (+6.3 percent), and other goods and services (+6.2 percent). Declining prices for household furnishings and operations (-2.6 percent) and public transportation slightly offset the rise.

Table A. Midwest region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2020 2021 2022 2023 2024
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 2.5 0.5 1.2 0.8 7.9 0.8 6.0 0.3 2.7

February

0.3 2.1 0.8 1.7 0.9 8.0 0.5 5.6 0.6 2.8

March

-0.5 1.0 0.7 3.0 1.3 8.6 0.6 4.9

April

-1.1 -0.4 0.8 4.9 0.5 8.2 0.6 4.9

May

0.3 -0.4 1.0 5.6 1.5 8.8 0.3 3.7

June

0.8 0.4 1.0 5.8 1.6 9.5 0.4 2.4

July

0.5 0.7 0.6 5.9 -0.2 8.6 0.3 2.9

August

0.4 1.1 0.2 5.7 -0.2 8.1 0.2 3.4

September

0.2 1.3 0.2 5.7 0.2 8.1 0.1 3.2

October

-0.1 1.0 0.8 6.6 0.1 7.4 -0.1 2.9

November

-0.2 1.0 0.4 7.3 -0.2 6.8 -0.2 2.9

December

0.1 1.1 0.3 7.5 -0.5 6.0 -0.2 3.2

The March 2024 Consumer Price Index for the Midwest Region is scheduled to be released on Wednesday, April 10, 2024.


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 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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Midwest Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Dec.
2023
Jan.
2024
Feb.
2024
Feb.
2023
Dec.
2023
Jan.
2024

All items

283.908 284.731 286.346 2.8 0.9 0.6

All items (December 1977 = 100)

461.934 463.274 465.901      

Food and beverages

311.736 314.178 314.206 2.2 0.8 0.0

Food

313.009 315.478 315.489 2.2 0.8 0.0

Food at home

287.002 289.498 289.635 1.1 0.9 0.0

Cereals and bakery products

335.756 335.431 336.519 1.4 0.2 0.3

Meats, poultry, fish, and eggs

311.625 309.849 311.498 -0.7 0.0 0.5

Dairy and related products

245.538 246.657 246.450 -1.1 0.4 -0.1

Fruits and vegetables

320.016 322.603 321.875 0.7 0.6 -0.2

Nonalcoholic beverages and beverage materials

207.774 216.755 217.489 3.9 4.7 0.3

Other food at home

256.114 258.612 257.676 1.9 0.6 -0.4

Food away from home

355.446 357.780 357.532 3.9 0.6 -0.1

Alcoholic beverages

293.747 295.816 296.075 3.7 0.8 0.1

Housing

282.601 284.385 285.516 4.3 1.0 0.4

Shelter

340.120 341.513 343.183 6.2 0.9 0.5

Rent of primary residence(1)

343.989 345.403 347.091 6.3 0.9 0.5

Owners' equivalent rent of residences(1)(2)

348.435 350.341 351.796 6.5 1.0 0.4

Owners' equivalent rent of primary residence(1)(2)

348.346 350.245 351.693 6.5 1.0 0.4

Fuels and utilities

266.846 272.583 273.774 0.2 2.6 0.4

Household energy

215.747 220.800 221.898 -1.2 2.9 0.5

Energy services(1)

223.090 228.102 229.193 -1.0 2.7 0.5

Electricity(1)

231.228 237.612 237.634 4.5 2.8 0.0

Utility (piped) gas service(1)

190.525 192.638 195.591 -11.3 2.7 1.5

Household furnishings and operations

137.695 138.706 138.309 -2.6 0.4 -0.3

Apparel

115.486 119.079 122.790 1.1 6.3 3.1

Transportation

255.549 251.781 256.628 1.6 0.4 1.9

Private transportation

254.759 250.527 255.467 2.2 0.3 2.0

New and used motor vehicles(3)

128.169 124.025 124.653 0.4 -2.7 0.5

New vehicles

172.359 172.907 173.019 1.3 0.4 0.1

New cars and trucks(3)(4)

           

New cars(4)

167.201 167.640 167.707 0.0 0.3 0.0

Used cars and trucks

186.563 179.695 180.353 -1.4 -3.3 0.4

Motor fuel

264.556 261.551 281.879 -5.3 6.5 7.8

Gasoline (all types)

262.478 260.002 280.811 -5.0 7.0 8.0

Gasoline, unleaded regular(4)

254.333 252.012 272.809 -5.2 7.3 8.3

Gasoline, unleaded midgrade(4)(5)

315.596 311.251 332.368 -3.8 5.3 6.8

Gasoline, unleaded premium(4)

303.278 299.684 317.262 -3.0 4.6 5.9

Medical care

549.769 549.600 545.456 0.1 -0.8 -0.8

Medical care commodities

395.782 391.189 390.993 1.9 -1.2 -0.1

Medical care services

600.696 602.058 596.566 -0.3 -0.7 -0.9

Professional services

464.022 461.798 464.292 1.3 0.1 0.5

Recreation(3)

139.597 140.587 141.543 2.4 1.4 0.7

Education and communication(3)

142.561 143.178 143.203 -0.1 0.5 0.0

Tuition, other school fees, and child care(6)

1,314.402 1,311.735 1,313.998 3.6 0.0 0.2

Other goods and services

531.285 532.690 539.349 6.2 1.5 1.3

Commodity and service group

Commodities

212.868 213.704 215.667 0.1 1.3 0.9

Commodities less food and beverages

168.150 168.395 170.917 -1.2 1.6 1.5

Nondurables less food and beverages

213.690 214.561 220.672 -0.4 3.3 2.8

Durables

122.148 121.965 121.916 -2.2 -0.2 0.0

Services

356.835 357.652 358.930 4.5 0.6 0.4

Special aggregate indexes

All items less shelter

266.216 266.832 268.447 1.2 0.8 0.6

All items less medical care

271.400 272.277 274.190 3.0 1.0 0.7

Commodities less food

171.928 172.216 174.701 -1.0 1.6 1.4

Nondurables

261.163 262.760 266.182 1.1 1.9 1.3

Nondurables less food

217.921 218.853 224.660 -0.1 3.1 2.7

Services less rent of shelter(2)

384.001 384.118 384.946 2.7 0.2 0.2

Services less medical care services

338.746 339.523 341.331 5.2 0.8 0.5

Energy

238.716 240.205 249.882 -3.1 4.7 4.0

All items less energy

291.732 292.508 293.437 3.2 0.6 0.3

All items less food and energy

288.960 289.472 290.546 3.4 0.5 0.4

(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(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.
(6) Indexes on a December 1977=100 base.

Note: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Tuesday, March 12, 2024