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15-1179-CHI
Thursday, June 18, 2015

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Consumer Price Index, Chicago-Gary-Kenosha — May 2015

Local prices declined 0.5 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Chicago-Gary-Kenosha area rose 0.3 percent in May, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that energy prices increased 3.3 percent while food prices decreased 0.3 percent in May. The all items less food and energy index edged up 0.2 percent over the month. Among the indexes within the all items less food and energy category, prices rose in May for recreation and airline fares, but were lower for apparel; household furnishings and operations; and education and communication. (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 Chicago area all items CPI-U decreased 0.5 percent. (See chart 1 and table A.) The energy index fell 17.7 percent over the year as falling gasoline prices and utility (piped) gas service costs overcame increases in electricity costs. The all items less food and energy index was 1.2 percent higher over the year. (See table 1.)

 

Food

Food prices were down 0.3 percent in May following a 0.6 percent increase in April. Of` the two components within the food index, prices for food at home (groceries) and food away from home (restaurant, cafeteria, and vending purchases) decreased 0.4 percent and 0.3 percent, respectively, over the month. Within the food at home group, categories experiencing price increases included lettuce while prices were lower for tomatoes; carbonated drinks; and cakes, cupcakes and cookies.

From May 2014 to May 2015, the food index increased 1.6 percent. Grocery food prices rose 1.2 percent over the year, while prices for food eaten away from home increased 2.2 percent compared to last May.

Energy

The energy index was up 3.3 percent in May, due mostly to a 7.2 percent increase in gasoline prices.  The electricity index rose 0.5 percent and utility (piped) gas service costs fell 1.3 percent from April to May.

On an annual basis, the Chicago area energy index declined 17.7 percent. Over the year, gasoline prices and utility (piped) gas service costs fell 25.4 percent and 37.7 percent, respectively, while the index for electricity rose 26.2 percent.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent in May. Among the index’s components, prices were higher for recreation (1.7 percent) and airline fares. In contrast, prices were lower for apparel (-1.2 percent), household furnishings and operations (-1.1 percent), and education and communication (-0.4 percent).

Over the year, the index for all items less food and energy increased 1.2 percent. Annual increases in the indexes for shelter (2.5 percent) and medical care (3.3 percent) were the major contributing factors. In contrast, apparel prices were down 9.2 percent over the year.

Table A. Chicago CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2011 2012 2013 2014 2015
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.6 1.4 0.6 2.1 0.2 1.2 0.9 1.2 -0.2 0.4

February

0.5 1.8 0.0 1.6 1.1 2.3 0.5 0.7 0.0 -0.2

March

0.8 2.3 1.2 2.1 -0.1 0.9 1.1 1.9 0.7 -0.6

April

0.4 2.7 0.0 1.7 0.0 0.9 0.5 2.4 0.1 -0.9

May

0.6 3.3 -0.1 1.0 0.5 1.5 -0.1 1.8 0.3 -0.5

June

0.0 3.8 -0.1 0.9 0.1 1.7 0.4 2.0    

July

-0.4 3.2 -0.2 1.1 -0.2 1.7 -0.4 1.9    

August

0.2 3.2 0.6 1.5 0.1 1.1 0.1 1.9    

September

0.2 3.1 0.3 1.6 -0.2 0.7 0.0 2.1    

October

-0.2 2.9 -0.2 1.7 -0.3 0.5 -0.4 2.0    

November

-0.2 2.9 -0.4 1.5 -0.3 0.6 -0.8 1.6    

December

-0.5 2.1 -0.3 1.7 -0.3 0.5 -0.4 1.5    

The June 2015 Consumer Price Index for Chicago is scheduled to be released on Friday, July 17, 2015.


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/homch17_a.htm.

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 Chicago-Gary-Kenosha, Ill.-Ind.-Wis. consolidated area covered in this release is comprised of Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will Counties in Illinois; Lake and Porter Counties in Indiana; and Kenosha County in Wisconsin.

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

Chicago-Gary-Kenosha, IL-IN-WI (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Mar.
2015
Apr.
2015
May
2015
May
2014
Mar.
2015
Apr.
2015

Expenditure category

 
 

All items

227.405 227.704 228.494 -0.5 0.5 0.3

All items (1967=100)

679.392 680.286 682.645 - - -

Food and beverages

239.642 241.043 240.318 1.5 0.3 -0.3

Food

239.237 240.620 239.823 1.6 0.2 -0.3

Food at home

237.289 238.796 237.947 1.2 0.3 -0.4

Food away from home

236.570 237.745 237.040 2.2 0.2 -0.3

Alcoholic beverages

243.936 245.591 245.943 -0.2 0.8 0.1

Housing

232.224 232.153 231.959 1.2 -0.1 -0.1

Shelter

286.671 286.671 286.568 2.5 0.0 0.0

Rent of primary residence (1)

303.496 303.791 303.922 3.6 0.1 0.0

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

291.752 291.986 291.884 2.3 0.0 0.0

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

291.752 291.986 291.884 2.3 0.0 0.0

Fuels and utilities

203.423 202.433 203.060 -4.3 -0.2 0.3

Household energy

169.157 167.189 166.847 -8.4 -1.4 -0.2

Energy services (1)

172.461 170.426 170.112 -8.3 -1.4 -0.2

Electricity (1)

174.586 177.353 178.185 26.2 2.1 0.5

Utility (piped) gas service (1)

153.300 144.816 142.946 -37.7 -6.8 -1.3

Household furnishings and operations

96.867 97.179 96.145 -2.3 -0.7 -1.1

Apparel

92.226 89.776 88.657 -9.2 -3.9 -1.2

Transportation

183.032 185.375 190.443 -7.9 4.0 2.7

Private transportation

179.873 181.510 185.909 -8.4 3.4 2.4

Motor fuel

231.701 239.373 256.541 -25.4 10.7 7.2

Gasoline (all types)

229.201 236.865 253.927 -25.4 10.8 7.2

Gasoline, unleaded regular (3)

223.218 230.614 247.665 -25.9 11.0 7.4

Gasoline, unleaded midgrade (3) (4)

246.112 254.831 271.120 -24.1 10.2 6.4

Gasoline, unleaded premium (3)

233.685 241.629 257.019 -22.2 10.0 6.4

Medical care

460.288 462.420 463.528 3.3 0.7 0.2

Recreation (5)

108.913 108.482 110.275 0.7 1.3 1.7

Education and communication (5)

142.282 141.864 141.260 0.1 -0.7 -0.4

Other goods and services

381.130 379.669 383.096 0.2 0.5 0.9
 

Commodity and service group

 
 

All items

227.405 227.704 228.494 -0.5 0.5 0.3

Commodities

167.830 168.328 169.011 -4.3 0.7 0.4

Commodities less food & beverages

131.098 131.186 132.461 -8.5 1.0 1.0

Nondurables less food & beverages

171.084 171.338 174.280 -12.0 1.9 1.7

Durables

92.765 92.697 92.396 -1.5 -0.4 -0.3

Services

283.839 283.951 284.842 1.8 0.4 0.3
 

Special aggregate indexes

 
 

All items less medical care

217.435 217.653 218.430 -0.8 0.5 0.4

All items less shelter

207.536 207.942 209.051 -1.9 0.7 0.5

Commodities less food

135.252 135.383 136.644 -8.1 1.0 0.9

Nondurables

206.146 206.952 208.177 -5.0 1.0 0.6

Nondurables less food

176.032 176.362 179.182 -11.2 1.8 1.6

Services less rent of shelter (2)

295.657 295.894 297.833 1.1 0.7 0.7

Services less medical care services

270.312 270.354 271.259 1.6 0.4 0.3

Energy

193.126 194.911 201.380 -17.7 4.3 3.3

All items less energy

232.468 232.627 232.881 1.3 0.2 0.1

All items less food and energy

232.064 231.998 232.447 1.2 0.2 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 December 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.
 

 

Last Modified Date: Thursday, June 18, 2015