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Thursday, September 12, 2019

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Consumer Price Index, New York-Newark-Jersey City – August 2019

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

Prices in the New York-Newark-Jersey City area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.2 percent in August, after no change in July, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the rise to higher prices for food and a variety of non-energy items. (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 increased 1.8 percent. The index for all items less food and energy advanced 2.3 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 0.6 percent after declining 0.3 percent in July. Prices for food away from home jumped 0.7 percent, the largest increase in over a year. Prices for food at home increased 0.5 percent, with higher prices in three of the six grocery groups.

For the year ended in August 2019, the food index increased 1.7 percent. Food-away-from-home prices rose 3.1 percent, while food-at-home prices increased 0.5 percent.

Energy

The energy index declined 1.7 percent, following a 0.8-percent decrease in July. Gasoline prices declined 2.0 percent. Prices for household energy declined 1.5 percent, with a 2.7-percent drop in electricity prices. Natural gas prices, by contrast, increased 0.4 percent.   

From August 2018 to August 2019, the energy index declined 4.0 percent. Gasoline prices dropped 4.7   percent. Household energy prices were down 3.5 percent, with a 3.1-percent decline in electricity prices and a 2.6-percent decline in natural gas prices.

All items less food and energy

The index for all items less food and energy rose 0.3 percent. Apparel prices jumped 5.7 percent reflecting typical seasonal patterns. Education and communication advanced 1.4 percent—the largest increase in over ten years—with prices for tuition, other school fees, and childcare up 1.8 percent. A 0.3-percent rise in owners’ equivalent rent and a 0.2-percent rise in residential rent contributed to the 0.2-percent increase in prices for shelter.

Over the year, the index for all items less food and energy rose 2.3 percent. A 2.2-percent increase in shelter prices included a 3.1-percent rise in residential rent and a 1.8-percent increase in owners’ equivalent rent. Medical care prices jumped 6.4 percent—the largest increase since October 1992. Among other items with increases of at least 2.0 percent, education and communication rose 2.7 percent and included a 3.6-percent rise in prices for tuition, other school fees, and childcare; recreation rose 3.3 percent; motor vehicle insurance rose 2.4 percent, and used cars and trucks rose 2.1 percent.

Table A. New York-Newark-Jersey City CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2014 2015 2016 2017 2018 2019
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

0.9 1.9 0.1 -0.5 0.2 0.8 0.6 2.5 0.4 1.4 0.5 1.6

February

-0.2 1.1 0.3 0.1 0.2 0.6 0.3 2.6 0.5 1.7 0.2 1.3

March

0.4 1.3 0.2 -0.1 0.2 0.7 0.0 2.3 0.0 1.7 0.3 1.6

April

0.0 1.6 0.1 0.0 0.4 1.0 0.1 2.0 0.3 1.9 0.3 1.6

May

0.5 1.9 0.4 -0.1 0.3 0.9 0.1 1.8 0.4 2.2 0.2 1.5

June

0.0 1.7 0.2 0.1 0.2(R) 0.9(R) 0.2 1.8 0.1 2.0 0.3 1.7

July

0.1 1.6 -0.1 -0.1 -0.1 1.0 -0.2 1.6 0.0 2.2 0.0 1.7

August

-0.2 1.3 0.1 0.1 0.2 1.1 0.2 1.7 0.1 2.2 0.2 1.8

September

0.0 1.0 0.2 0.3 0.2 1.0 0.5 2.1 0.4 2.0

October

-0.2 1.3 -0.1 0.4 0.1 1.2 -0.2 1.8 -0.1 2.0

November

-0.4 0.8 -0.2 0.6 0.2 1.6 -0.1 1.6 -0.2 1.9

December

-0.5 0.3 -0.4 0.7 0.1 2.1 0.1 1.6 -0.2 1.6

Footnotes:
(R) = revised.

CPI-W

In August, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 273.903, up 0.2 percent over the month. The CPI-W rose 1.7 percent over the year.

The September 2019 Consumer Price Index for New York-Newark-Jersey City is scheduled to be released on Thursday, October 10, 2019, 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 93 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 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 75 urban areas across the country from about 5,000 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 (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-Newark-Jersey City, N.Y.-N.J.-Pa., Core Based Statistical Area includes Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York; Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union Counties in New Jersey; 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-Newark-Jersey City, NY-NJ-PA, not seasonally adjusted
(1982-84=100 unless otherwise noted)
Item and Group Indexes Percent change from-
June
2019
July
2019
Aug.
2019
Aug.
2018
June
2019
July
2019

Expenditure category

All items

278.802 278.817 279.428 1.8 0.2 0.2

All items (1967=100)

805.977 806.020 807.788      

Food and beverages

271.178 270.245 271.819 1.7 0.2 0.6

Food

271.257 270.351 271.882 1.7 0.2 0.6

Food at home

258.911 257.017 258.183 0.5 -0.3 0.5

Cereals and bakery products

303.424 301.955 305.701 0.4 0.8 1.2

Meats, poultry, fish, and eggs

255.910 253.356 253.208 -0.2 -1.1 -0.1

Dairy and related products

228.473 227.060 228.078 1.7 -0.2 0.4

Fruits and vegetables

326.234 326.964 324.092 -0.5 -0.7 -0.9

Nonalcoholic beverages and beverage materials(1)

261.808 257.320 255.727 2.3 -2.3 -0.6

Other food at home

225.216 223.073 228.253 0.7 1.3 2.3

Food away from home

296.138 296.627 298.723 3.1 0.9 0.7

Alcoholic beverages

265.516 264.232 266.360 1.7 0.3 0.8

Housing

303.608 303.892 303.603 1.7 0.0 -0.1

Shelter

384.598 385.269 385.875 2.2 0.3 0.2

Rent of primary residence

400.852 401.406 402.171 3.1 0.3 0.2

Owners' equivalent rent of residences(2)

389.878 391.231 392.323 1.8 0.6 0.3

Owners' equivalent rent of primary residence(2)

389.395 390.747 391.837 1.8 0.6 0.3

Fuels and utilities

198.596 196.557 193.995 -2.8 -2.3 -1.3

Household energy

189.944 187.478 184.654 -3.5 -2.8 -1.5

Energy services

181.158 178.343 175.469 -2.9 -3.1 -1.6

Electricity

187.778 184.352 179.307 -3.1 -4.5 -2.7

Utility (piped) gas service

160.454 158.748 159.393 -2.6 -0.7 0.4

Household furnishings and operations

110.192 110.804 108.954 0.9 -1.1 -1.7

Apparel

122.340 116.924 123.568 -3.1 1.0 5.7

Transportation

224.883 224.120 222.810 -0.2 -0.9 -0.6

Private transportation

210.569 211.012 209.861 -0.9 -0.3 -0.5

New and used motor vehicles(3)

89.297 90.246 90.513 -1.5 1.4 0.3

New vehicles(1)

202.513 202.679 201.823 1.0 -0.3 -0.4

Used cars and trucks(1)

270.613 274.253 276.921 2.1 2.3 1.0

Motor fuel

230.968 230.483 225.993 -4.7 -2.2 -1.9

Gasoline (all types)

229.914 229.436 224.961 -4.7 -2.2 -2.0

Gasoline, unleaded regular(4)

229.090 228.638 223.659 -5.0 -2.4 -2.2

Gasoline, unleaded midgrade(4)(5)

235.762 234.997 233.836 -3.6 -0.8 -0.5

Gasoline, unleaded premium(4)

237.990 237.343 236.399 -2.4 -0.7 -0.4

Motor vehicle insurance(1)

760.120 757.682 757.682 2.4 -0.3 0.0

Medical care

510.146 515.152 516.142 6.4 1.2 0.2

Recreation(3)

126.225 126.941 126.803 3.3 0.5 -0.1

Education and communication(3)

144.133 144.710 146.691 2.7 1.8 1.4

Tuition, other school fees, and child care(1)

1,205.806 1,212.901 1,234.606 3.6 2.4 1.8

Other goods and services

436.126 440.573 439.987 1.9 0.9 -0.1

Commodity and service group

All items

278.802 278.817 279.428 1.8 0.2 0.2

Commodities

192.396 191.477 192.325 -0.1 0.0 0.4

Commodities less food and beverages

144.943 144.085 144.551 -1.6 -0.3 0.3

Nondurables less food and beverages

186.153 184.771 185.912 -2.4 -0.1 0.6

Durables

93.064 92.823 92.522 0.3 -0.6 -0.3

Services

351.598 352.251 352.731 2.5 0.3 0.1

Special aggregate indexes

All items less medical care

268.757 268.556 269.151 1.5 0.1 0.2

All items less shelter

236.896 236.624 237.247 1.5 0.1 0.3

Commodities less food

149.458 148.582 149.101 -1.4 -0.2 0.3

Nondurables

230.191 228.990 230.359 -0.2 0.1 0.6

Nondurables less food

190.987 189.606 190.805 -2.1 -0.1 0.6

Services less rent of shelter(2)

326.992 327.641 327.993 3.0 0.3 0.1

Services less medical care services

338.118 338.524 338.971 2.1 0.3 0.1

Energy

208.222 206.481 202.981 -4.0 -2.5 -1.7

All items less energy

287.606 287.795 288.817 2.2 0.4 0.4

All items less food and energy

292.408 292.768 293.719 2.3 0.4 0.3

Footnotes
(1) Indexes on a December 1977=100 base.
(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.

 

Last Modified Date: Thursday, September 12, 2019