News Release Information

17-345-NEW
Wednesday, March 15, 2017

Contacts

Technical information:
Media contact:
  • (646) 264-3620

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

Area prices up 0.3 percent over the month and 2.6 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), increased 0.3 percent in February after rising 0.6 percent in January, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli noted that the February increase was primarily due to higher prices for recreation and apparel. (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 advanced 2.6 percent, the largest 12-month increase since March 2012. The index for all items less food and energy rose 2.2 percent. (See table A and chart 1.) Higher prices for shelter drove the 12-month change in both indexes. (See table 1.)

Food

The food index dipped 0.1 percent over the month, after increasing 0.6 percent in January. Prices for food away from home edged down 0.2 percent, while prices for food at home were unchanged. A variety of groceries had higher prices in February, including lettuce, pork chops, and beverage materials including tea, but these price increases were offset by lower prices for food items including soups and snacks. 

Over the year, the food index increased 0.4 percent. A 2.4-percent rise in prices for food away from home was largely offset by a 1.1-percent drop in prices for food at home

Energy

The energy index edged up 0.2 percent after rising at least 2.5 percent in each of the prior three months. Household energy prices rose 1.9 percent in February, but the increase was largely offset by a 2.2-percent fall in gasoline prices, the first decline since August. Within household energy, electricity prices rose 2.0 percent, and natural gas prices increased 2.6 percent.

For the year ended in February 2017, energy prices advanced 18.8 percent, the largest increase since September 2008. Gasoline prices climbed 32.9 percent, and household energy prices rose 11.1 percent. Among household energy components, natural gas jumped 23.7 percent—the largest 12-month increase in 11 years. Electricity prices rose 3.3 percent.

All items less food and energy

The index for all items less food and energy increased 0.3 percent, following a 0.4-percent rise in January. Prices for apparel, often up in February, increased 2.7 percent, and prices for recreation jumped 2.0 percent, due in part to higher prices for cable and satellite television service. Prices for shelter and medical care, however, were unchanged over the month. Within shelter, residential rent ticked up 0.1 percent, and owners’ equivalent rent was flat.

From February 2016 to February 2017, the index for all items less food and energy rose 1.9 percent. Shelter prices increased 2.8 percent. Within shelter, owners’ equivalent rent rose 2.7 percent and residential rent, 2.4 percent. Recreation prices advanced 3.9 percent, and medical care prices increased 3.7 percent. Apparel prices, in contrast, declined 0.7 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    

April

0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0    

May

0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1 0.3 0.9    

June

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

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 February, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 262.086, up 0.3 percent over the month. The CPI-W rose 2.7 percent over the year.

The March 2017 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Friday, April 14, 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-
Dec.
2016
Jan.
2017
Feb.
2017
Feb.
2016
Dec.
2016
Jan.
2017
 

Expenditure category

 
 

All items

265.421 266.917 267.662 2.6 0.8 0.3

All items (1967=100)

767.295 771.621 773.774      
 

Food and beverages

257.012 258.304 258.137 0.4 0.4 -0.1

Food

256.849 258.298 258.088 0.4 0.5 -0.1

Food at home

247.754 249.820 249.874 -1.1 0.9 0.0

Food away from home

276.672 277.261 276.661 2.4 0.0 -0.2

Alcoholic beverages

254.823 253.983 254.398 0.4 -0.2 0.2
 

Housing

288.586 289.262 289.614 3.1 0.4 0.1

Shelter

365.319 365.684 365.599 2.8 0.1 0.0

Rent of primary residence(1)

377.194 377.224 377.592 2.4 0.1 0.1

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

371.689 372.132 372.060 2.7 0.1 0.0

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

371.213 371.656 371.598 2.7 0.1 0.0

Fuels and utilities

183.017 184.792 187.826 9.7 2.6 1.6

Household energy

174.421 176.339 179.619 11.1 3.0 1.9

Energy services(1)

168.231 169.309 173.010 9.3 2.8 2.2

Electricity(1)

176.861 174.823 178.298 3.3 0.8 2.0

Utility (piped) gas service(1)

143.902 150.348 154.239 23.7 7.2 2.6

Household furnishings and operations

109.988 111.015 110.939 -1.3 0.9 -0.1
 

Apparel

119.924 127.022 130.424 -0.7 8.8 2.7
 

Transportation

210.671 212.861 213.382 4.8 1.3 0.2

Private transportation

197.258 200.128 199.648 6.2 1.2 -0.2

Motor fuel

190.908 199.975 195.510 32.9 2.4 -2.2

Gasoline (all types)

190.162 199.139 194.680 32.9 2.4 -2.2

Gasoline, unleaded regular(3)

188.631 197.956 193.165 34.7 2.4 -2.4

Gasoline, unleaded midgrade(3)(4)

200.508 208.242 205.484 25.2 2.5 -1.3

Gasoline, unleaded premium(3)

202.837 209.641 207.121 22.8 2.1 -1.2
 

Medical care

470.698 474.449 474.262 3.7 0.8 0.0
 

Recreation(5)

121.369 120.828 123.301 3.9 1.6 2.0
 

Education and communication(5)

144.266 144.450 144.602 0.7 0.2 0.1
 

Other goods and services

414.381 416.991 417.807 1.5 0.8 0.2
 

Commodity and service group

 
 

All items

265.421 266.917 267.662 2.6 0.8 0.3

Commodities

184.676 187.433 187.427 1.9 1.5 0.0

Commodities less food and beverages

140.641 143.918 143.987 3.1 2.4 0.0

Nondurables less food and beverages

177.128 182.215 182.479 6.5 3.0 0.1

Durables

93.993 95.239 95.108 -2.8 1.2 -0.1

Services

333.634 334.211 335.546 2.9 0.6 0.4
 

Special aggregate indexes

 
 

All items less medical care

256.501 257.902 258.684 2.5 0.9 0.3

All items less shelter

225.848 227.812 228.898 2.5 1.4 0.5

Commodities less food

144.938 148.104 148.183 3.0 2.2 0.1

Nondurables

218.527 221.876 221.937 3.0 1.6 0.0

Nondurables less food

181.856 186.601 186.875 6.0 2.8 0.1

Services less rent of shelter(2)

310.022 310.830 313.742 3.1 1.2 0.9

Services less medical care services

322.714 322.981 324.290 2.8 0.5 0.4

Energy

183.116 187.773 188.161 18.8 2.8 0.2

All items less energy

275.248 276.461 277.245 1.7 0.7 0.3

All items less food and energy

280.307 281.488 282.446 1.9 0.8 0.3

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: Wednesday, March 15, 2017