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Friday, July 14, 2017

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Consumer Price Index, New York-Northern New Jersey – June 2017

Area prices up 0.2 percent over the month and 1.8 percent over the year

Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), edged up 0.2 percent in June after inching up 0.1 percent in each of the two prior months, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli said the June increase reflected higher shelter, food, and energy prices. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the year, the CPI-U rose 1.8 percent. The index for all items less food and energy increased 1.6 percent. (See table A and chart 1.) Price increases for shelter drove the 12-month change in both indexes. (See table 1.)

 

Food

The food index rose 0.2 percent after a 0.2-percent decrease in May. A 0.3-percent rise in prices for food at home led to the upturn; groceries with price increases included breakfast cereal, tomatoes, and candy and chewing gum. In contrast, prices for food away from home were unchanged.

Over the year, the food index increased 1.4 percent. Prices for food away from home rose 2.5 percent, and prices for food at home increased 0.6 percent.

Energy

The energy index rose 0.8 percent after a 2.1-percent advance in May. A 1.9-percent increase in household energy prices was partially offset by a 0.9-percent decline in gasoline prices. Within household energy, electricity prices increased 2.8 percent, and natural gas prices advanced 1.5 percent.

For the year ended in June 2017, energy prices rose 6.3 percent, with a 6.1-percent increase in gasoline prices and a 6.4-percent rise in household energy prices. Natural gas prices advanced 13.6 percent, while electricity prices rose 2.8 percent.

All items less food and energy

The index for all items less food and energy ticked up 0.1 percent in June, following three consecutive months of no change. Shelter prices edged up 0.2 percent, with price increases recorded for residential rent (0.2 percent) and for out-of-town lodging. Prices for household furnishings and operations rose 1.3 percent. In addition, a 1.0-percent increase was recorded for other goods and services. These increases were tempered by a seasonal decline in apparel prices of 1.2 percent.

From June 2016 to June 2017, the index for all items less food and energy rose 1.6 percent. Shelter prices increased 2.4 percent, with residential rent advancing 2.7 percent. Medical care prices rose 2.6 percent, and recreation prices, 2.9 percent. In contrast, prices for household furnishings and operations were down 0.5 percent.

Table A. New York-Northern New Jersey-Long Island CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2012 2013 2014 2015 2016 2017
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 2.8 0.5 2.2 0.9 1.9 0.1 -0.5 0.2 0.8 0.6 2.5

February

0.4 2.6 0.6 2.4 -0.2 1.1 0.3 0.1 0.2 0.6 0.3 2.6

March

0.6 2.6 0.1 1.9 0.4 1.3 0.2 -0.1 0.2 0.7 0.0 2.3

April

0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0 0.1 2.0

May

0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1 0.3 0.9 0.1 1.8

June

-0.1 1.6 0.3 1.8 0.0 1.7 0.2 0.1 0.2(R) 0.9(R) 0.2 1.8

July

-0.2 1.1 0.2 2.1 0.1 1.6 -0.1 -0.1 -0.1 1.0    

August

0.6 1.4 0.1 1.7 -0.2 1.3 0.1 0.1 0.2 1.1    

September

0.4 1.6 0.3 1.6 0.0 1.0 0.2 0.3 0.2 1.0    

October

-0.1 1.7 -0.6 1.1 -0.2 1.3 -0.1 0.4 0.1 1.2    

November

0.0 2.0 0.1 1.2 -0.4 0.8 -0.2 0.6 0.2 1.6    

December

-0.3 2.1 0.0 1.5 -0.5 0.3 -0.4 0.7 0.1 2.1    

Footnotes:
(R) = revised.
 

CPI-W

In June, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 263.205, up 0.1 percent over the month. The CPI-W rose 1.9 percent over the year.

The July 2017 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Friday, August 11, 2017, at 8:30 a.m. (ET).


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 approximately 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/pdf/homch17.pdf.

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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

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

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
April
2017
May
2017
June
2017
June
2016
April
2017
May
2017
 

Expenditure category

 
 

All items

267.948 268.183 268.666 1.8 0.3 0.2

All items (1967=100)

774.600 775.280 776.676      
 

Food and beverages

260.491 259.929 260.358 1.3 -0.1 0.2

Food

260.674 260.113 260.545 1.4 0.0 0.2

Food at home

252.619 251.321 252.020 0.6 -0.2 0.3

Food away from home

279.083 279.580 279.633 2.5 0.2 0.0

Alcoholic beverages

253.582 253.006 253.397 0.2 -0.1 0.2
 

Housing

289.908 290.950 292.150 2.5 0.8 0.4

Shelter

366.709 367.192 367.964 2.4 0.3 0.2

Rent of primary residence(1)

378.952 380.197 380.805 2.7 0.5 0.2

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

372.122 373.435 373.598 2.1 0.4 0.0

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

371.660 372.968 373.131 2.1 0.4 0.0

Fuels and utilities

186.115 191.160 194.257 5.7 4.4 1.6

Household energy

177.792 183.438 186.904 6.4 5.1 1.9

Energy services(1)

171.091 178.062 182.293 6.0 6.5 2.4

Electricity(1)

174.619 185.867 191.065 2.8 9.4 2.8

Utility (piped) gas service(1)

155.490 154.628 156.941 13.6 0.9 1.5

Household furnishings and operations

109.807 109.909 111.310 -0.5 1.4 1.3
 

Apparel

130.086 126.946 125.432 2.1 -3.6 -1.2
 

Transportation

214.862 215.630 214.975 0.8 0.1 -0.3

Private transportation

199.689 199.906 199.316 1.3 -0.2 -0.3

Motor fuel

197.812 198.945 197.139 6.2 -0.3 -0.9

Gasoline (all types)

196.995 198.136 196.336 6.1 -0.3 -0.9

Gasoline, unleaded regular(3)

195.682 196.769 194.868 6.2 -0.4 -1.0

Gasoline, unleaded midgrade(3)(4)

206.500 208.296 206.678 5.6 0.1 -0.8

Gasoline, unleaded premium(3)

208.244 209.683 208.703 5.5 0.2 -0.5
 

Medical care

471.473 474.273 475.291 2.6 0.8 0.2
 

Recreation(5)

123.860 123.371 123.336 2.9 -0.4 0.0
 

Education and communication(5)

142.737 142.055 142.064 -0.6 -0.5 0.0
 

Other goods and services

416.715 417.646 421.643 1.6 1.2 1.0
 

Commodity and service group

 
 

All items

267.948 268.183 268.666 1.8 0.3 0.2

Commodities

187.872 187.359 187.132 0.9 -0.4 -0.1

Commodities less food and beverages

143.523 143.062 142.545 0.6 -0.7 -0.4

Nondurables less food and beverages

181.968 181.267 180.274 2.2 -0.9 -0.5

Durables

94.726 94.537 94.529 -2.3 -0.2 0.0

Services

335.718 336.528 337.562 2.2 0.5 0.3
 

Special aggregate indexes

 
 

All items less medical care

259.097 259.225 259.685 1.8 0.2 0.2

All items less shelter

228.849 228.984 229.351 1.4 0.2 0.2

Commodities less food

147.706 147.239 146.748 0.6 -0.6 -0.3

Nondurables

222.795 222.148 221.822 1.7 -0.4 -0.1

Nondurables less food

186.345 185.651 184.738 2.1 -0.9 -0.5

Services less rent of shelter(2)

312.899 314.084 315.428 1.9 0.8 0.4

Services less medical care services

324.510 325.345 326.332 2.1 0.6 0.3

Energy

187.875 191.888 193.402 6.3 2.9 0.8

All items less energy

277.587 277.470 277.861 1.5 0.1 0.1

All items less food and energy

282.411 282.368 282.754 1.6 0.1 0.1

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 December 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.
 

Note: Index applies to a month as a whole, not to any specific date.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven, and Middlesex Counties in Connecticut; and Pike County in Pennsylvania.
 

 

Last Modified Date: Friday, July 14, 2017