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Tuesday, May 17, 2016

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Consumer Price Index, New York-Northern New Jersey – April 2016

Area prices up 0.4 percent over the month and 1.0 percent over the year

Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose for the fourth consecutive month, up 0.4 percent in April, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the increase primarily to higher prices for energy, particularly gasoline. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the year, the CPI-U was up 1.0 percent. (See table A.) The index for all items less food and energy increased 1.8 percent. (See chart 1.) Higher prices for shelter drove the 12-month change in both indexes. (See table 1.)

Food

The food index increased 0.7 percent in April, reflecting higher prices for both food at home (1.0 percent) and food away from home (0.4 percent). Within the food at home group, prices rose for snacks; cakes, cupcakes, and cookies; and salad dressings.

Over the year, the food index increased 0.9 percent as away-from-home food prices rose 3.6 percent. In contrast, at-home food prices declined 1.1 percent.

Energy

The energy index rose 4.6 percent in April. After falling in eight of the last nine months, gasoline prices jumped 12.9 percent, the largest increase since June 2009. Household energy prices rose 0.3 percent with higher prices for natural gas (0.4 percent) and fuel oil. Electricity prices were unchanged.

For the year ended in April 2016, the energy index fell 8.3 percent. The decline was driven by a 12.9-percent drop in gasoline prices, along with lower prices for electricity (-4.7 percent) and fuel oil. Natural gas prices moderated the drop in the energy index, rising 7.1 percent.

All items less food and energy

The index for all items less food and energy inched up 0.1 percent, due largely to a 0.2-percent increase in shelter prices. Higher prices for both owners’ equivalent rent (0.2 percent) and residential rent (0.1 percent) contributed to the price rise. Prices also increased for motor vehicle insurance. The indexes for medical care and recreation each rose 0.3 percent. A 1.4-percent decline in prices for apparel helped to moderate the overall advance.

From April 2015 to April 2016, the index for all items less food and energy increased 1.8 percent. Shelter prices were up 2.8 percent as prices rose for residential rent (4.0 percent) and owners’ equivalent rent (2.8 percent). Other categories with higher prices included other goods and services (3.2 percent), education and communication (2.2 percent), and medical care (1.8 percent).

Table A. New York-Northern New Jersey-Long Island CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2011 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 1-month 12-month

January

0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9 0.1 -0.5 0.2 0.8

February

0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1 0.3 0.1 0.2 0.6

March

0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3 0.2 -0.1 0.2 0.7

April

0.4 2.5 0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0

May

0.6 2.9 0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1    

June

0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7 0.2 0.1    

July

0.3 3.3 -0.2 1.1 0.2 2.1 0.1 1.6 -0.1 -0.1    

August

0.4 3.5 0.6 1.4 0.1 1.7 -0.2 1.3 0.1 0.1    

September

0.2 3.8 0.4 1.6 0.3 1.6 0.0 1.0 0.2 0.3    

October

-0.2 3.3 -0.1 1.7 -0.6 1.1 -0.2 1.3 -0.1 0.4    

November

-0.3 3.0 0.0 2.0 0.1 1.2 -0.4 0.8 -0.2 0.6    

December

-0.4 2.7 -0.3 2.1 0.0 1.5 -0.5 0.3 -0.4 0.7    

CPI-W

In April, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 257.289, up 0.5 percent over the month. The CPI-W rose 1.0 percent over the year.

The May 2016 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Thursday, June 16, 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 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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

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, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
Feb.
2016
March
2016
April
2016
April
2015
Feb.
2016
March
2016
 

Expenditure category

 
 

All items

260.875 261.508 262.619 1.0 0.7 0.4

All items (1967=100)

754.153 755.983 759.194      
 

Food and beverages

257.176 256.386 258.167 1.0 0.4 0.7

Food

257.139 256.258 258.132 0.9 0.4 0.7

Food at home

252.679 250.602 253.019 -1.1 0.1 1.0

Food away from home

270.223 271.062 272.192 3.6 0.7 0.4

Alcoholic beverages

253.288 253.738 254.243 2.7 0.4 0.2
 

Housing

280.952 282.322 282.662 1.7 0.6 0.1

Shelter

355.645 356.133 356.781 2.8 0.3 0.2

Rent of primary residence (1)

368.693 369.185 369.579 4.0 0.2 0.1

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

362.154 362.714 363.322 2.8 0.3 0.2

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

361.705 362.266 362.873 2.8 0.3 0.2

Fuels and utilities

171.281 177.962 178.408 -4.1 4.2 0.3

Household energy

161.641 169.118 169.618 -5.2 4.9 0.3

Energy services (1)

158.285 166.466 166.704 -1.5 5.3 0.1

Electricity (1)

172.533 177.430 177.479 -4.7 2.9 0.0

Utility (piped) gas service (1)

124.721 138.168 138.725 7.1 11.2 0.4

Household furnishings and operations

112.376 113.012 112.173 -3.0 -0.2 -0.7
 

Apparel

131.283 131.207 129.416 -1.1 -1.4 -1.4
 

Transportation

203.647 204.036 209.200 -2.1 2.7 2.5

Private transportation

187.944 188.566 193.835 -2.7 3.1 2.8

Motor fuel

147.105 150.069 169.326 -13.0 15.1 12.8

Gasoline (all types)

146.459 149.409 168.673 -12.9 15.2 12.9

Gasoline, unleaded regular (3)

143.421 146.864 166.856 -13.5 16.3 13.6

Gasoline, unleaded midgrade (3) (4)

164.097 163.927 179.863 -10.8 9.6 9.7

Gasoline, unleaded premium (3)

168.610 168.705 183.167 -9.3 8.6 8.6
 

Medical care

457.224 457.077 458.620 1.8 0.3 0.3
 

Recreation (5)

118.637 119.296 119.691 0.2 0.9 0.3
 

Education and communication (5)

143.642 143.604 143.269 2.2 -0.3 -0.2
 

Other goods and services

411.739 413.772 413.099 3.2 0.3 -0.2
 

Commodity and service group

 
 

All items

260.875 261.508 262.619 1.0 0.7 0.4

Commodities

184.012 184.251 185.710 -1.8 0.9 0.8

Commodities less food and beverages

139.632 140.333 141.561 -4.1 1.4 0.9

Nondurables less food and beverages

171.271 172.651 175.003 -5.0 2.2 1.4

Durables

97.839 97.818 97.843 -2.4 0.0 0.0

Services

326.020 326.969 327.844 2.3 0.6 0.3
 

Special aggregate indexes

 
 

All items less medical care

252.333 252.997 254.089 1.0 0.7 0.4

All items less shelter

223.371 224.067 225.370 -0.1 0.9 0.6

Commodities less food

143.907 144.604 145.815 -3.8 1.3 0.8

Nondurables

215.464 215.825 217.942 -1.6 1.2 1.0

Nondurables less food

176.245 177.572 179.818 -4.5 2.0 1.3

Services less rent of shelter (2)

304.439 305.913 307.055 1.7 0.9 0.4

Services less medical care services

315.500 316.650 317.330 2.3 0.6 0.2

Energy

158.388 164.258 171.881 -8.3 8.5 4.6

All items less energy

272.554 272.702 273.213 1.6 0.2 0.2

All items less food and energy

277.089 277.412 277.696 1.8 0.2 0.1

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.
 

Note: Index applies to a month as a whole, not to any specific date.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven, and Middlesex Counties in Connecticut; and Pike County in Pennsylvania.
 

 

Last Modified Date: Tuesday, May 17, 2016