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Friday, September 16, 2016

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Consumer Price Index, Northeast Region – August 2016

Regional prices up 0.1 over the month and 1.1 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast inched up 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that a 0.3-percent increase in the all items less energy index was moderated by a decrease in the energy index (-2.2 percent). Food prices were unchanged over the month. (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 Northeast all items CPI-U increased 1.1 percent, due almost entirely to a 2.1-percent advance in the all items less food and energy index. (See chart 1 and table A.) The food index inched up 0.1 percent over the year, while the energy index declined 7.9 percent. (See table 1.)

Food

The food index was unchanged since July as a 0.1-percent decline in prices for food at home was offset by a 0.1-percent increase in prices for food away from home.

From August 2015 to August 2016, the food index inched up 0.1 percent. Prices for food away from home increased 2.8 percent over the year, while those for food at home decreased 1.8 percent.

Energy

The energy index, which includes prices for household and transportation fuels, decreased 2.2 percent since July, due mostly to a 4.1-percent decline in gasoline prices. Prices also fell for electricity and utility (piped) gas service, down 0.7 and 1.0 percent, respectively.

The energy index fell 7.9 percent since August 2015, led by a 15.7-percent drop in gasoline prices. Prices for electricity also decreased over the year, down 0.7 percent, while prices increased for utility (piped) gas service, up 2.5 percent.

All items less food and energy

The index for all items less food and energy advanced 0.3 percent in August, led by a seasonal increase in apparel prices (3.4 percent) and higher prices for shelter (0.3 percent). Prices for education and communication also increased, up 0.5 percent over the month. These and other increases were moderated by a 0.5-percent decline in prices for household furnishings and operations.

Over the year, the index for all items less food and energy increased 2.1 percent, led by higher prices for shelter (3.0 percent). Prices were also higher over the year for medical care (4.5 percent) and education and communication (1.6 percent).

Table A. Northeast region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2012 2013 2014 2015 2016
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 2.9 0.3 1.8 0.6 1.5 -0.2 -0.4 0.0 0.7

February

0.4 2.8 0.6 2.0 0.1 1.0 0.2 -0.2 0.2 0.7

March

0.5 2.5 0.0 1.5 0.5 1.5 0.3 -0.4 0.2 0.6

April

0.3 2.3 -0.1 1.1 0.0 1.6 0.1 -0.3 0.6 1.0

May

-0.1 1.7 0.0 1.2 0.4 2.0 0.4 -0.3 0.3 0.9

June

-0.2 1.5 0.1 1.5 0.0 1.9 0.3 0.0 0.2 0.8

July

-0.1 1.1 0.2 1.8 0.1 1.8 -0.1 -0.2 0.0 0.8

August

0.5 1.3 0.2 1.5 -0.3 1.3 -0.2 -0.1 0.1 1.1

September

0.5 1.7 0.1 1.1 0.0 1.2 0.0 -0.1    

October

0.1 1.9 -0.4 0.7 -0.2 1.4 -0.2 -0.1    

November

-0.2 1.8 0.1 1.0 -0.4 0.9 0.0 0.3    

December

-0.3 1.8 0.0 1.3 -0.5 0.4 -0.4 0.5    

The Consumer Price Index for September 2016 is scheduled to be released Tuesday, October 18, 2016, 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 4,000 housing units and approximately 26,000 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 Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

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, Northeast Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
 
Historical
data
Jun.
2016
Jul.
2016
Aug.
2016
Aug.
2015
Jun.
2016
Jul.
2016

All items

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255.532 255.449 255.605 1.1 0.0 0.1

All items (December 1977 = 100)

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402.384 402.255 402.500      
 

Food and beverages

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251.811 252.342 252.298 0.1 0.2 0.0

Food

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251.891 252.378 252.325 0.1 0.2 0.0

Food at home

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244.570 244.816 244.587 -1.8 0.0 -0.1

Food away from home

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266.064 266.926 267.145 2.8 0.4 0.1

Alcoholic beverages

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249.592 250.699 250.758 0.4 0.5 0.0
 

Housing

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269.752 270.407 270.680 2.2 0.3 0.1

Shelter

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333.809 335.313 336.263 3.0 0.7 0.3

Rent of primary residence (1)

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333.885 334.853 335.487 2.9 0.5 0.2

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

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345.267 346.019 346.822 2.8 0.5 0.2

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

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344.991 345.739 346.541 2.8 0.4 0.2

Fuels and utilities

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209.618 208.943 207.358 -0.7 -1.1 -0.8

Household energy

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184.895 184.098 182.288 -1.4 -1.4 -1.0

Energy services (1)

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187.310 186.676 185.251 0.1 -1.1 -0.8

Electricity (1)

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199.940 197.943 196.601 -0.7 -1.7 -0.7

Utility (piped) gas service (1)

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147.273 149.579 148.078 2.5 0.5 -1.0

Household furnishings and operations

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122.032 120.854 120.230 -1.8 -1.5 -0.5
 

Apparel

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129.357 127.212 131.494 -0.2 1.7 3.4
 

Transportation

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199.495 197.243 194.974 -3.2 -2.3 -1.2

Private transportation

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189.906 188.370 186.611 -3.6 -1.7 -0.9

New and used motor vehicles (3)

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97.405 97.594 97.158 -1.3 -0.3 -0.4

New vehicles

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145.220 145.629 145.616 0.2 0.3 0.0

New cars and trucks (3) (4)

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100.601 100.885 100.875 0.2 0.3 0.0

New cars (4)

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136.206 136.594 136.451 -1.1 0.2 -0.1

Used cars and trucks

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153.492 152.541 151.755 -4.1 -1.1 -0.5

Motor fuel

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199.089 190.982 183.214 -15.7 -8.0 -4.1

Gasoline (all types)

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198.374 190.233 182.452 -15.7 -8.0 -4.1

Gasoline, unleaded regular (4)

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195.996 187.561 179.498 -16.3 -8.4 -4.3

Gasoline, unleaded midgrade (4) (5)

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211.598 204.866 197.839 -13.4 -6.5 -3.4

Gasoline, unleaded premium (4)

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206.724 200.745 195.160 -12.3 -5.6 -2.8
 

Medical care

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486.391 488.465 489.714 4.5 0.7 0.3

Medical care commodities

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392.462 393.316 393.896 3.8 0.4 0.1

Medical care services

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512.509 514.973 516.436 4.7 0.8 0.3

Professional services

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371.300 374.076 374.265 3.0 0.8 0.1
 

Recreation (3)

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121.264 120.913 121.040 0.1 -0.2 0.1
 

Education and communication (3)

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140.844 140.870 141.590 1.6 0.5 0.5
 

Other goods and services

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459.081 463.534 466.240 3.0 1.6 0.6
 

Commodity and service group

 

Commodities

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185.727 184.764 184.630 -2.0 -0.6 -0.1

Commodities less food and beverages

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149.603 148.082 147.918 -3.4 -1.1 -0.1

Nondurables less food and beverages

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187.694 184.975 185.123 -4.1 -1.4 0.1

Durables

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105.620 105.176 104.785 -2.2 -0.8 -0.4

Services

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323.018 323.713 324.129 2.7 0.3 0.1
 

Special aggregate indexes

 

All items less shelter

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228.676 228.008 227.873 0.0 -0.4 -0.1

All items less medical care

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245.392 245.212 245.319 0.8 0.0 0.0

Commodities less food

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153.235 151.781 151.623 -3.3 -1.1 -0.1

Nondurables

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219.626 218.415 218.474 -1.9 -0.5 0.0

Nondurables less food

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191.307 188.817 188.959 -3.8 -1.2 0.1

Services less rent of shelter (2)

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322.633 322.490 322.351 2.4 -0.1 0.0

Services less medical care services

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309.940 310.518 310.865 2.5 0.3 0.1

Energy

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190.756 187.052 182.872 -7.9 -4.1 -2.2

All items less energy

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264.741 265.024 265.619 1.8 0.3 0.2

All items less food and energy

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268.707 268.957 269.665 2.1 0.4 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) 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.

Note: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Friday, September 16, 2016