Tuesday, June 13, 2023
The Consumer Price Index for All Urban Consumers (CPI-U) for the South rose 0.2 percent in May, the U.S. Bureau of Labor Statistics reported today. The index for all items less food and energy rose 0.4 percent over the month. The food index was little changed over the month (+0.1 percent), while the energy index declined 2.3 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes reflect the impact of seasonal influences.)
The all items CPI-U for the South advanced 4.4 percent for the 12 months ending in May, after increasing 5.5 percent for the 12-month period ending in April. The index for all items less food and energy rose 6.0 percent over the past year. The food index also increased over the last 12 months, up 7.1 percent. In contrast, the energy index fell 12.6 percent over the past year. (See chart 1 and table 1.)
The food index was little changed in May, up 0.1 percent. The food away from home index rose 0.4 percent over the month, while the food at home index was unchanged.
The food index advanced 7.1 percent for the 12 months ending in May, led by a 6.5-percent increase in the food at home index as all six major grocery store food group indexes increased over year. The food away from home index also continued to increase over the past year, up 8.3 percent.Energy
The energy index declined 2.3 percent in May, led by a 3.6-percent decline in the gasoline index. The electricity and natural gas indexes also fell over the month, down 0.6 percent and 2.2 percent, respectively.
The energy index fell 12.6 percent for the 12 months ending in May, largely due to a 22.3-percent decrease in the gasoline index. Over the past year, the natural gas index declined 6.8 percent, while the electricity index increased 5.4 percent.All items less food and energy
The index for all items less food and energy rose 0.4 percent in May, primarily reflecting a 0.7-percent increase in the shelter index. Within shelter, owners’ equivalent rent rose 0.8 percent over the month and rent of primary residence rose 0.6 percent. The index for used cars and trucks was also among the notable components to increase in May, up 3.3 percent. Several indexes declined in May, led by household furnishing and operations (-1.2 percent). The apparel index declined 1.1 percent and the index for medical care services edged down 0.3 percent in May.
The index for all items less food and energy advanced 6.0 percent for the 12 months ending in May, after increasing 6.3 percent for the 12-month period ending in April. Several components contributed to the 12-month increase, most notably, shelter (+10.0 percent). Within shelter, owner’s equivalent rent increased 10.1 percent over the past year and rent of primary residence rose 11.2 percent.Geographic divisions
Additional price indexes are now available for the three divisions of the South. In May, the all items index rose 0.4 percent in the East South Central division and 0.2 percent in the South Atlantic division. The all items index was unchanged in the West South Central division in May.
Over the year, the all items index advanced 5.0 percent in the South Atlantic division, 4.5 percent in the East South Central division, and 3.3 percent in the West South Central division.
The Consumer Price Index for June 2023 is scheduled to be released on Wednesday, July 12, 2023, at 8:30 a.m. (ET).
The Consumer Price Index for the South region is published monthly. 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, 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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
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.
|Item and Group||Indexes||Percent change from-|
All items (December 1977=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
Other food at home
Food away from home
Rent of primary residence
Owners' equiv. rent of residences(1)
Owners' equiv. rent of primary residence(1)
Fuels and utilities
Utility (piped) gas service
Household furnishings and operations
New and used motor vehicles(2)
Used cars and trucks
Gasoline (all types)
Medical care commodities
Medical care services
Education and communication(2)
Tuition, other school fees, and child care(5)
Other goods and services
Commodity and service group
Commodities less food and beverages
Nondurables less food and beverages
Nondurables less food, beverages, and apparel
Rent of shelter(1)
Special aggregate indexes
All items less medical care
All items less food
All items less shelter
Commodities less food
Nondurables less food
Nondurables less food and apparel
Services less rent of shelter(1)
Services less medical care services
All items less energy
All items less food and energy
Commodities less food and energy commodities
Services less energy services
- Data not available.
Last Modified Date: Tuesday, June 13, 2023