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Friday, July 14, 2017

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Consumer Price Index, Miami-Fort Lauderdale – June 2017

Area prices down 0.2 percent over the two months; up 2.0 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami decreased 0.2 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the energy index declined 2.5 percent. Over the two-month pricing period, the all items less food and energy index edged down 0.2 percent, while the food index increased 0.9 percent. (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 2.0 percent. The all items less food and energy index increased 2.0 percent and the energy index advanced 3.6 percent over the year. The food index rose 0.9 percent since June 2016. (See chart 1 and table 1.)

Food

The food index rose 0.9 percent during the May-June pricing period, led by a 1.4 percent increase in prices for food at home. Prices for food away from home edged up 0.3 percent over the two months.

Since June 2016, the food index rose 0.9 percent as a 2.5-percent increase in the food away from home index was partially offset by a 0.3-percent decline in the food at home index.

Energy

The energy index decreased 2.5 percent during the two month pricing period, led by a 4.9-percent decline in motor fuel prices. During this same period, prices for utility (piped) gas service decreased 2.9 percent, while prices for electricity edged up 0.2 percent.

Over the year, the energy index advanced 3.6 percent, reflecting price increases for electricity (9.7 percent) and utility (piped) gas service (2.4 percent). Since June 2016, motor fuel prices declined 1.5 percent.

All items less food and energy

The index for all items less food and energy edged down 0.2 percent during the May-June pricing period. Over the two months, price declines for apparel (-6.2 percent), recreation (-1.6 percent), and medical care (-0.8 percent) were largely offset by a price increase for shelter (0.6 percent).

Since June 2016, the index for all items less food and energy advanced 2.0 percent, reflecting a 4.5 percent increase in the shelter index and a 7.7 percent increase in the medical care index. The education and communication index decreased 5.6 percent over the 12-month pricing period.

Table A. Miami CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2013 2014 2015 2016 2017
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.5 1.9 1.2 1.6 0.3 0.4 0.2 1.6 1.3 4.0

April

-0.2 0.9 0.7 2.5 0.8 0.5 0.7 1.4 -0.5 2.8

June

-0.1 1.6 -0.3 2.4 0.4 1.2 0.6 1.6 -0.2 2.0

August

-0.2 0.6 -0.1 2.4 0.0 1.3 0.0 1.6    

October

0.6 0.9 0.4 2.2 0.2 1.1 0.5 1.9    

December

0.2 1.9 -0.6 1.4 -0.1 1.6 0.8 2.9    

The Consumer Price Index for July 2017 is scheduled to be released on Friday, August 11, 2017.


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 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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.

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
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Apr.
2017
May
2017
Jun.
2017
Jun.
2016
Apr.
2017
May
2017

Expenditure category

 
 

All Items

255.708 - 255.134 2.0 -0.2 -

All items (November 1977=100)

412.166 - 411.241 - - -

Food and beverages

259.295 - 261.305 0.7 0.8 -

Food

261.685 - 264.151 0.9 0.9 -

Food at home

251.221 255.093 254.846 -0.3 1.4 -0.1

Food away from home

281.096 - 281.809 2.5 0.3 -

Alcoholic beverages

227.160 - 222.738 -1.6 -1.9 -

Housing

264.299 - 265.326 4.5 0.4 -

Shelter

301.230 301.996 302.926 4.5 0.6 0.3

Rent of primary residence(1)

295.815 296.857 297.487 4.8 0.6 0.2

Owners' equiv. rent of residences(1)(2)

302.708 303.373 304.134 4.6 0.5 0.3

Owners' equiv. rent of primary residence(1)(2)

302.708 303.373 304.134 4.6 0.5 0.3

Fuels and utilities

176.240 - 176.357 7.8 0.1 -

Household energy

152.539 152.532 152.669 9.3 0.1 0.1

Energy services(1)

149.738 149.738 149.912 9.4 0.1 0.1

Electricity(1)

146.326 146.326 146.645 9.7 0.2 0.2

Utility (piped) gas service(1)

202.801 202.801 196.882 2.4 -2.9 -2.9

Household furnishings and operations

162.071 - 159.830 -0.1 -1.4 -

Apparel

149.182 - 139.988 0.9 -6.2 -

Transportation

212.243 - 209.220 -4.3 -1.4 -

Private transportation

214.358 - 211.151 -4.8 -1.5 -

Motor fuel

221.082 214.059 210.246 -1.5 -4.9 -1.8

Gasoline (all types)

218.569 211.605 207.832 -1.5 -4.9 -1.8

Unleaded regular(3)

215.310 208.023 204.021 -1.9 -5.2 -1.9

Unleaded midgrade(3)(4)

217.435 212.509 210.528 0.3 -3.2 -0.9

Unleaded premium(3)

235.230 231.342 229.592 0.9 -2.4 -0.8

Medical Care

508.244 - 504.024 7.7 -0.8 -

Recreation(5)

122.254 - 120.307 2.4 -1.6 -

Education and communication(5)

121.414 - 120.865 -5.6 -0.5 -

Other goods and services

346.274 - 345.684 1.0 -0.2 -
 

Commodity and service group

 
 

All Items

255.708 - 255.134 2.0 -0.2 -

Commodities

204.334 - 201.835 1.4 -1.2 -

Commodities less food & beverages

170.898 - 166.064 1.9 -2.8 -

Nondurables less food & beverages

205.417 - 198.012 2.9 -3.6 -

Durables

133.522 - 131.992 -0.1 -1.1 -

Services

295.515 - 296.258 2.3 0.3 -
 

Special aggregate indexes

 
 

All items less medical care

244.982 - 244.541 1.6 -0.2 -

All items less shelter

231.717 - 229.926 0.3 -0.8 -

Commodities less food

173.146 - 168.316 1.7 -2.8 -

Nondurables

234.720 - 231.811 1.7 -1.2 -

Nondurables less food

206.872 - 199.632 2.6 -3.5 -

Services less rent of shelter(2)

295.148 - 294.481 -1.1 -0.2 -

Services less medical care services

281.416 - 282.287 2.3 0.3 -

Energy

183.376 180.355 178.797 3.6 -2.5 -0.9

All items less energy

263.839 - 263.757 1.8 0.0 -

All items less food and energy

264.104 - 263.578 2.0 -0.2 -

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 November 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.
 

- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Friday, July 14, 2017