Thursday, February 10, 2022
Prices in the Boston area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.6 percent for the two months ending in January 2022, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner William J. Sibley noted that the January increase was influenced by higher prices for shelter, new and used vehicles, and energy. (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 rose 6.3 percent. (See chart 1 and table A) This was the largest annual increase recorded in the Boston area since July 2008. The index for all items less food and energy rose 4.7 percent over the year. Energy prices jumped 29.5 percent, largely the result of an increase in the price of gasoline. Food prices rose 6.0 percent. (See table 1.)
Food prices advanced 1.6 percent for the two months ending in January. (See table 1.) Prices for food at home increased 1.4 percent, and prices for food away from home advanced 1.9 percent for the same period.
Over the year, food prices rose 6.0 percent. Prices for food at home increased 3.6 percent since a year ago, and prices for food away from home increased 9.6 percent.
The energy index advanced 3.1 percent for the two months ending in January. The increase was mainly due to higher prices for electricity (9.0 percent). Prices for natural gas service edged up 0.2 percent, while prices for gasoline decreased 0.8 percent for the same period.
Energy prices jumped 29.5 percent over the year, largely due to higher prices for gasoline (46.8 percent). Prices paid for natural gas service advanced 16.1 percent, and prices for electricity jumped 16.0 percent during the past year.
All items less food and energy
The index for all items less food and energy rose 1.5 percent in the latest two-month period. This was largely due to higher prices for shelter (1.7 percent), new and used motor vehicles (3.2 percent), and medical care (1.5 percent). Within shelter and new and used motor vehicles, price increases were noted for owners’ equivalent rent of residences (+1.1 percent) and used cars and trucks (+4.7 percent).
Over the year, the index for all items less food and energy rose 4.7 percent. Components contributing to the increase included shelter (4.3 percent), new and used motor vehicles (24.4 percent), and household furnishings and operations (6.8 percent), its largest yearly advance since January 1989 (7.8 percent). Within new and used motor vehicles and shelter, higher prices for used cars and trucks and owners’ equivalent rent of residences, up 42.9 and 3.5 percent, respectively, led the increases.
The Consumer Price Index for February 2022 is scheduled to be released on Thursday, March 10, 2022, at 8:30 a.m. (ET).
The Consumer Price Index (CPI) is a measures 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 Boston-Cambridge-Newton, Mass.-N.H. Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts; Rockingham, Strafford Counties in New Hampshire.
Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.
|Expenditure category||Indexes||Percent change from|
All items (1967 = 100)
Food and beverages
Food at home
Cereal and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials(1)
Other food at home
Food away from home
Rent of primary residence(2)
Fuels and utilities
Utility (piped) gas service(2)
Household furnishings and operations
New and used motor vehicles(5)
Used cars and trucks(1)
Gasoline (all types)
Gasoline, unleaded regular(6)
Gasoline, unleaded premium(6)
Motor vehicle insurance(1)
Education and communication(5)
Tuition, other fees, and child care(1)
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(3)
Services less medical care services
All items less energy
All items less food and energy
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Thursday, February 10, 2022