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17-1009-ATL
Friday, July 14, 2017

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Consumer Price Index for Tampa-St. Petersburg-Clearwater – First Half 2017

Local prices up 2.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Tampa-St. Petersburg-Clearwater area rose 2.8 percent from the first half of 2016 to the first half of 2017, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index advanced 3.2 percent and the energy index rose 6.5 percent over-the-year. The food index declined 0.5 percent since the first half of 2016. (See chart 1.)

Food

Food prices declined 0.5 percent since the first half of 2016, reflecting price decreases for both food at home (-0.6 percent) and for food away from home (-0.4 percent).

Energy

The energy index rose 6.5 percent from the first half of 2016 to the first half of 2017, led by a 13.0-percent increase in motor fuel prices. Over the year, electricity prices were up 0.6 percent, while prices for utility (piped) gas service were down 5.9 percent.

All items less food and energy

The index for all items less food and energy increased 3.2 percent since the first half of 2016. Components contributing to the increase included shelter (5.3 percent) and medical care (9.6 percent).

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

Consumer Price Index Geographic Revision for 2018

In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). This index will change to a bimonthly publication schedule beginning in January, 2018. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: www.bls.gov/cpi/georevision2018.htm.


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 Tampa-St. Petersburg-Clearwater, Fla. metropolitan statistical area covered in this release is comprised of Hernando, Hillsborough, Pasco, and Pinellas 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 for semiannual averages and percent changes for selected periods
Tampa-St. Petersburg-Clearwater, FL (1987=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to 1st half 2017 from—
1st half
2016
2nd half
2016
1st half
2017
1st half
2016
2nd half
2016

Expenditure category

 
 

All Items

212.502 215.572 218.529 2.8 1.4

Food and beverages

220.124 218.520 218.801 -0.6 0.1

Food

220.247 218.701 219.101 -0.5 0.2

Food at home

224.327 221.633 223.026 -0.6 0.6

Food away from home

214.118 214.258 213.200 -0.4 -0.5

Alcoholic beverages

204.516 202.079 200.435 -2.0 -0.8

Housing

205.341 209.174 214.364 4.4 2.5

Shelter

230.983 236.797 243.314 5.3 2.8

Rent of primary residence(1)

231.791 240.583 246.918 6.5 2.6

Owners' equiv. rent of residences(1)

242.531 249.076 256.641 5.8 3.0

Owners' equiv. rent of primary residence(1)

242.531 249.076 256.641 5.8 3.0

Fuels and utilities

205.459 205.253 206.492 0.5 0.6

Household energy

163.804 163.559 164.606 0.5 0.6

Energy services(1)

161.716 161.356 162.241 0.3 0.5

Electricity(1)

158.485 158.557 159.491 0.6 0.6

Utility (piped) gas service(1)

253.075 238.949 238.235 -5.9 -0.3

Household furnishings and operations

113.654 112.303 114.823 1.0 2.2

Apparel

167.709 163.256 159.283 -5.0 -2.4

Transportation

183.226 185.371 191.520 4.5 3.3

Private transportation

186.345 189.100 195.553 4.9 3.4

Motor fuel

220.075 232.185 248.708 13.0 7.1

Gasoline (all types)

216.235 227.879 244.509 13.1 7.3

Unleaded regular(2)

209.456 220.766 237.067 13.2 7.4

Unleaded midgrade(2)(3)

197.627 212.346 226.082 14.4 6.5

Unleaded premium(2)

233.336 250.500 267.339 14.6 6.7

Medical Care

373.163 - 409.086 9.6 -

Recreation(4)

124.807 122.998 122.932 -1.5 -0.1

Education and communication(4)

142.030 142.254 139.357 -1.9 -2.0

Other goods and services

293.524 294.320 292.864 -0.2 -0.5
 

Commodity and service group

 
 

All Items

212.502 215.572 218.529 2.8 1.4

Commodities

171.519 170.376 170.770 -0.4 0.2

Commodities less food & beverages

145.893 144.989 145.434 -0.3 0.3

Nondurables less food & beverages

209.373 209.102 208.092 -0.6 -0.5

Durables

91.874 90.686 91.958 0.1 1.4

Services

248.841 255.699 260.959 4.9 2.1
 

Special aggregate indexes

 
 

All items less medical care

203.891 205.431 208.481 2.3 1.5

All items less shelter

205.409 207.261 208.632 1.6 0.7

Commodities less food

149.068 148.111 148.501 -0.4 0.3

Nondurables

214.382 213.386 213.083 -0.6 -0.1

Nondurables less food

209.126 208.712 207.659 -0.7 -0.5

Services less rent of shelter

267.538 275.580 278.978 4.3 1.2

Services less medical care services

237.400 241.521 246.129 3.7 1.9

Energy

185.072 189.853 197.181 6.5 3.9

All items less energy

214.506 217.436 220.041 2.6 1.2

All items less food and energy

213.692 217.478 220.506 3.2 1.4

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) Special index based on a substantially smaller sample.
(3) Indexes on a December 1993=100 base.
(4) Indexes on a December 1997=100 base.
 

NOTE: Data not seasonally adjusted.
 

 

Last Modified Date: Friday, July 14, 2017