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15-1493-CHI
Wednesday, August 19, 2015

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Consumer Price Index, Cincinnati-Hamilton – First Half 2015

Local prices down 0.4 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Cincinnati-Hamilton area declined 0.4 percent from the first half of 2014 to the first half of 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that the all items less food and energy index was 1.7 percent higher compared to its first half 2014 level as price increases were noted for several categories, most notably shelter. Food prices rose 1.6 percent over the year while the index for energy decreased 19.2 percent. (See chart 1.)

 Chart 1.  Over-the-year percent change in CPI-U, Cincinnati, first half 2012-first half 2015

Food

Food prices rose 1.6 percent from their first half 2014 levels. Within the food category, the index for food at home (groceries) was 1.9 percent higher while prices for food away from home (restaurant, cafeteria, and vending purchases) were up 1.4 percent.

Energy

The energy index fell 19.2 percent from the first half of 2014 to the first half of 2015. Within the energy category, the index for gasoline was down 30.3 percent compared to its first half 2014 level.The indexes for electricity and utility (piped) gas service declined 3.4 percent and 5.1 percent, respectively, over the year. 

All items less food and energy

The all items less food and energy index increased 1.7 percent over the year. Among the index’s components, higher costs were recorded for shelter (2.6 percent), medical care (2.7 percent), and apparel (3.5 percent). Prices declined 1.8 percent for education and communication over the year.

The second half 2015 Consumer Price Index for Cincinnati-Hamilton is scheduled to be released in January 2016.


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 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 Cincinnati-Hamilton, Ohio-Ky.-Ind. consolidated area covered in this release is comprised of Dearborn and Ohio Counties in Indiana; Boone, Campbell, Gallatin, Grant, Kenton, and Pendleton Counties in Kentucky; and Brown, Butler, Clermont, Hamilton and Warren Counties in Ohio.

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

Cincinnati-Hamilton, OH-KY-IN (1982-84=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to
1st half 2015 from-
1st half
2014
2nd half
2014
1st half
2015
1st half
2014
2nd half
2014

Expenditure category

 
 

All items

223.680 224.519 222.788 -0.4 -0.8

All items (1967=100)

692.115 694.713 689.355 - -

Food and beverages

216.670 219.340 220.267 1.7 0.4

Food

213.539 215.995 217.052 1.6 0.5

Food at home

210.195 213.434 214.125 1.9 0.3

Food away from home

222.206 223.400 225.292 1.4 0.8

Alcoholic beverages

241.219 246.780 245.699 1.9 -0.4

Housing

202.905 206.092 205.651 1.4 -0.2

Shelter

231.220 235.310 237.133 2.6 0.8

Rent of primary residence (1)

233.910 237.857 240.307 2.7 1.0

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

232.806 235.837 237.664 2.1 0.8

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

232.806 235.837 237.664 2.1 0.8

Fuels and utilities

220.651 228.500 214.231 -2.9 -6.2

Household energy

183.691 189.655 175.554 -4.4 -7.4

Energy services (1)

187.686 194.709 180.467 -3.8 -7.3

Electricity (1)

185.672 194.088 179.360 -3.4 -7.6

Utility (piped) gas service (1)

185.316 188.095 175.840 -5.1 -6.5

Household furnishings and operations

115.592 112.019 113.917 -1.4 1.7

Apparel

139.750 138.876 144.581 3.5 4.1

Transportation

215.548 209.692 198.886 -7.7 -5.2

Private transportation

212.176 206.193 195.056 -8.1 -5.4

Motor fuel

327.023 284.312 227.857 -30.3 -19.9

Gasoline (all types)

325.409 282.826 226.759 -30.3 -19.8

Gasoline, unleaded regular (3)

336.125 290.872 232.079 -31.0 -20.2

Gasoline, unleaded midgrade (3) (4)

314.508 275.255 222.136 -29.4 -19.3

Gasoline, unleaded premium (3)

278.792 246.999 202.371 -27.4 -18.1

Medical care

456.412 459.784 468.622 2.7 1.9

Recreation (5)

125.330 126.350 126.128 0.6 -0.2

Education and communication (5)

135.702 135.904 133.292 -1.8 -1.9

Other goods and services

470.000 470.222 477.130 1.5 1.5
 

Commodity and service group

 
 

All items

223.680 224.519 222.788 -0.4 -0.8

Commodities

182.361 179.315 175.929 -3.5 -1.9

Commodities less food & beverages

163.207 157.909 152.862 -6.3 -3.2

Nondurables less food & beverages

211.184 201.480 188.964 -10.5 -6.2

Durables

118.767 117.150 118.224 -0.5 0.9

Services

268.306 272.948 272.800 1.7 -0.1
 

Special aggregate indexes

 
 

All items less medical care

212.972 213.694 211.473 -0.7 -1.0

All items less shelter

222.844 222.389 219.231 -1.6 -1.4

Commodities less food

166.608 161.543 156.553 -6.0 -3.1

Nondurables

215.814 211.961 205.758 -4.7 -2.9

Nondurables less food

214.800 205.847 193.841 -9.8 -5.8

Services less rent of shelter (2)

319.065 324.584 321.958 0.9 -0.8

Services less medical care services

251.875 256.580 255.961 1.6 -0.2

Energy

247.603 232.658 200.140 -19.2 -14.0

All items less energy

224.093 226.194 227.881 1.7 0.7

All items less food and energy

227.404 229.455 231.266 1.7 0.8

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.
 

 

Last Modified Date: Wednesday, August 19, 2015