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15-291-CHI
Thursday, February 26, 2015

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Consumer Price Index, Cleveland-Akron-Lorain – January 2015

Local prices up 0.5 percent over the year

The Cleveland-Akron, Ohio, Consumer Price Index for All Urban Consumers (CPI-U) declined 0.7 percent from November to January, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that food prices rose 1.5 percent and energy costs fell 13.3 percent over the bi-monthly period. The index for all items less food and energy rose 0.3 percent. Within this last category, costs were higher for shelter over the two-month period while apparel prices declined. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the past 12 months the Cleveland area all items CPI-U rose 0.5 percent. (See chart 1 and table A.) The energy index declined 18.6 percent from its January 2014 level due to a decrease in gasoline prices over the year. The index for all items less food and energy rose 2.2 percent over the past 12 months. (See table 1.)

 Chart 1. Over-the-year percent change in CPI-U, Cleveland, January 2012-January 2015

Food

Food prices rose 1.5 percent from November to January following a small 0.1-percent decline over the previous bi-monthly period. Between the food index’s two components, prices for food at home (groceries) and food away from home (restaurant, cafeteria, and vending purchases) rose 2.3 percent and 0.2 percent, respectively, from November to January. Over the year, food at home prices were up 3.8 percent while prices for food away from home rose 3.3 percent. Overall food costs rose 3.6 percent from a year ago.

Energy

The energy index fell 13.3 percent from November to January following a 7.3-percent decline over the previous bi-monthly period. In the recent period, declines in costs for gasoline (-30.0 percent), offset the increases in electricity (4.9 percent) and utility (piped) gas service (1.9 percent) costs.

Over the year, the energy index declined 18.6 percent. Annual increases in costs for electricity (5.3 percent), and utility (piped) gas service (4.5 percent), were more than offset by a 38.6 percent drop in gasoline prices.

All items less food and energy

The index for all items less food and energy rose 0.3 percent from November to January. Among the index’s components, increases were recorded in costs for shelter (1.6 percent). Prices were lower for apparel (-7.1 percent) over the bi-monthly period.

Over the year, the index for all items less food and energy rose 2.2 percent mostly due to a 3.8-percent annual increase in the cost of shelter. Also contributing, but to a lesser extent, were annual gains in costs for medical care (2.3 percent).

Table A. Cleveland CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2011 2012 2013 2014 2015
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

January

0.7 2.2 0.4 2.1 0.2 1.5 0.3 1.1 -0.7 0.5

March

0.9 2.8 1.3 2.6 0.9 1.0 1.6 1.9    

May

1.3 4.0 -0.1 1.1 0.4 1.5 0.2 1.7    

July

-0.2 3.8 0.0 1.4 0.7 2.2 0.5 1.4    

September

0.6 3.7 1.0 1.8 -0.4 0.7 -0.5 1.3    

November

-0.8 2.5 -1.0 1.6 -0.7 1.0 -0.6 1.5    

The March 2015 Consumer Price Index for Cleveland is scheduled to be released on Friday, April 17, 2015, 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 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/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 Cleveland-Akron, Ohio consolidated area covered in this release is comprised of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage, and Summit 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 and percent changes for selected periods

Cleveland-Akron, OH (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Nov.
2014
Dec.
2014
Jan.
2015
Jan.
2014
Nov.
2014
Dec.
2014

Expenditure category

 
 

All items

219.992 - 218.536 0.5 -0.7 -

All items (1967=100)

704.959 - 700.291 - - -

Food and beverages

247.067 - 250.539 3.4 1.4 -

Food

252.222 - 255.913 3.6 1.5 -

Food at home

244.567 248.066 250.310 3.8 2.3 0.9

Food away from home

267.019 - 267.595 3.3 0.2 -

Alcoholic beverages

189.372 - 190.309 0.9 0.5 -

Housing

200.750 - 204.096 3.5 1.7 -

Shelter

230.675 230.686 234.256 3.8 1.6 1.5

Rent of primary residence (1)

229.767 229.903 230.143 0.9 0.2 0.1

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

226.806 227.177 227.434 2.3 0.3 0.1

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

226.806 227.177 227.434 2.3 0.3 0.1

Fuels and utilities

195.305 - 203.339 5.9 4.1 -

Household energy

164.661 165.049 170.338 4.7 3.4 3.2

Energy services (1)

162.773 163.244 168.764 5.0 3.7 3.4

Electricity (1)

162.442 164.346 170.446 5.3 4.9 3.7

Utility (piped) gas service (1)

145.732 144.288 148.462 4.5 1.9 2.9

Household furnishings and operations

117.888 - 117.079 -1.1 -0.7 -

Apparel

140.445 - 130.490 2.0 -7.1 -

Transportation

205.579 - 189.583 -10.3 -7.8 -

Private transportation

205.866 - 190.562 -10.5 -7.4 -

Motor fuel

295.352 260.397 206.866 -38.6 -30.0 -20.6

Gasoline (all types)

292.049 257.462 204.508 -38.6 -30.0 -20.6

Gasoline, unleaded regular (3)

281.936 247.975 195.233 -39.7 -30.8 -21.3

Gasoline, unleaded midgrade (3) (4)

301.820 267.792 215.894 -36.4 -28.5 -19.4

Gasoline, unleaded premium (3)

289.417 256.691 211.957 -34.1 -26.8 -17.4

Medical care

401.027 - 402.818 2.3 0.4 -

Recreation (5)

116.274 - 116.899 1.1 0.5 -

Education and communication (5)

125.742 - 124.829 0.3 -0.7 -

Other goods and services

402.843 - 408.323 1.7 1.4 -
 

Commodity and service group

 
 

All items

219.992 - 218.536 0.5 -0.7 -

Commodities

193.184 - 187.007 -2.9 -3.2 -

Commodities less food & beverages

164.896 - 155.013 -6.6 -6.0 -

Nondurables less food & beverages

218.166 - 196.538 -10.4 -9.9 -

Durables

109.562 - 109.173 -1.2 -0.4 -

Services

247.903 - 250.640 2.9 1.1 -
 

Special aggregate indexes

 
 

All items less medical care

211.662 - 210.069 0.4 -0.8 -

All items less shelter

217.756 - 214.204 -0.9 -1.6 -

Commodities less food

166.007 - 156.435 -6.3 -5.8 -

Nondurables

233.704 - 223.956 -3.5 -4.2 -

Nondurables less food

215.972 - 195.866 -9.7 -9.3 -

Services less rent of shelter (2)

272.044 - 273.736 1.9 0.6 -

Services less medical care services

236.811 - 239.597 3.2 1.2 -

Energy

214.291 201.802 185.717 -18.6 -13.3 -8.0

All items less energy

222.566 - 223.729 2.4 0.5 -

All items less food and energy

217.500 - 218.248 2.2 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) 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, February 26, 2015