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Friday, July 15, 2016

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

Area prices up 0.3 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 sixth consecutive month, up 0.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the increase primarily to higher prices for energy. (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 2.0 percent. (See chart 1.) Higher prices for shelter drove the 12-month change in both indexes. (See table 1.)

Food

The food index ticked up 0.1 percent, following a 0.5-percent decrease in May. Prices for food at home were unchanged. Price increases for fresh fish and seafood, apples, and baby food were offset by price declines for other groceries, including lettuce and cheese. Prices for food away from home edged up 0.2 percent.

Over the year, the food index rose 0.4 percent, reflecting a 3.2-percent increase for away-from-home food prices which was largely offset by a 1.6-percent decline in at-home food prices.

Energy

The energy index recorded its fourth consecutive increase, a rise of 4.2 percent. The June advance was primarily driven by a 5.5-percent increase in household energy prices. Electricity prices jumped 8.8 percent with seasonal surcharges. Higher prices were also recorded for natural gas (0.2 percent) and for fuel oil. Gasoline prices also rose (2.2 percent), but at a slower rate than each of the two prior months.

From June 2015 to June 2016, energy prices dropped 10.2 percent. Gasoline prices fell 16.0 percent. Household energy prices were down 6.0 percent, with lower charges for electricity (-4.9 percent) and for natural gas (-1.1 percent).

All items less food and energy

The index for all items less food and energy was unchanged in June. A 4.4-percent decline in prices for apparel, not uncommon at this time of year, along with lower prices for household furnishings and for new and used motor vehicles, were offset by price increases for shelter (0.3 percent) and for medical care (1.2 percent). Within shelter, prices rose 0.4 percent for owners’ equivalent rent and 0.1 percent for residential rent.

For the year ended in June 2016, the index for all items less food and energy increased 2.0 percent. Shelter prices rose 3.1 percent, reflecting a 3.6-percent increase in residential rent and a 2.9-percent rise in owners’ equivalent rent. Medical care prices advanced 5.1 percent, and prices for other goods and services increased 2.7 percent. No other category recorded an increase exceeding 2.0 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 0.3 0.9

June

0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7 0.2 0.1 0.3 1.0

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 June, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 258.413, up 0.3 percent over the month. The CPI-W rose 0.8 percent over the year.

The July 2016 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Tuesday, August 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-
April
2016
May
2016
June
2016
June
2015
April
2016
May
2016
 

Expenditure category

 
 

All items

262.619 263.310 264.022 1.0 0.5 0.3

All items (1967=100)

759.194 761.192 763.251      
 

Food and beverages

258.167 256.937 256.971 0.4 -0.5 0.0

Food

258.132 256.749 256.950 0.4 -0.5 0.1

Food at home

253.019 250.536 250.577 -1.6 -1.0 0.0

Food away from home

272.192 272.376 272.814 3.2 0.2 0.2

Alcoholic beverages

254.243 255.087 252.875 0.7 -0.5 -0.9
 

Housing

282.662 283.325 285.090 1.9 0.9 0.6

Shelter

356.781 358.177 359.395 3.1 0.7 0.3

Rent of primary residence (1)

369.579 370.558 370.763 3.6 0.3 0.1

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

363.322 364.215 365.735 2.9 0.7 0.4

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

362.873 363.763 365.279 2.9 0.7 0.4

Fuels and utilities

178.408 175.645 183.803 -4.8 3.0 4.6

Household energy

169.618 166.526 175.657 -6.0 3.6 5.5

Energy services (1)

166.704 162.085 171.899 -3.9 3.1 6.1

Electricity (1)

177.479 170.876 185.830 -4.9 4.7 8.8

Utility (piped) gas service (1)

138.725 137.816 138.137 -1.1 -0.4 0.2

Household furnishings and operations

112.173 112.821 111.832 -3.0 -0.3 -0.9
 

Apparel

129.416 128.550 122.904 -2.6 -5.0 -4.4
 

Transportation

209.200 212.896 213.339 -3.7 2.0 0.2

Private transportation

193.835 196.689 196.811 -4.3 1.5 0.1

Motor fuel

169.326 181.596 185.700 -16.1 9.7 2.3

Gasoline (all types)

168.673 180.927 184.987 -16.0 9.7 2.2

Gasoline, unleaded regular (3)

166.856 179.255 183.416 -16.8 9.9 2.3

Gasoline, unleaded midgrade (3) (4)

179.863 192.150 195.673 -12.9 8.8 1.8

Gasoline, unleaded premium (3)

183.167 194.316 197.842 -11.8 8.0 1.8
 

Medical care

458.620 461.351 466.843 5.1 1.8 1.2
 

Recreation (5)

119.691 119.668 119.915 0.5 0.2 0.2
 

Education and communication (5)

143.269 142.858 142.978 1.6 -0.2 0.1
 

Other goods and services

413.099 414.242 414.894 2.7 0.4 0.2
 

Commodity and service group

 
 

All items

262.619 263.310 264.022 1.0 0.5 0.3

Commodities

185.710 186.401 185.732 -2.3 0.0 -0.4

Commodities less food and beverages

141.561 143.100 142.144 -4.7 0.4 -0.7

Nondurables less food and beverages

175.003 177.930 177.189 -5.3 1.2 -0.4

Durables

97.843 97.898 96.803 -3.3 -1.1 -1.1

Services

327.844 328.553 330.333 2.5 0.8 0.5
 

Special aggregate indexes

 
 

All items less medical care

254.089 254.694 255.206 0.7 0.4 0.2

All items less shelter

225.370 225.777 226.286 -0.5 0.4 0.2

Commodities less food

145.815 147.341 146.341 -4.4 0.4 -0.7

Nondurables

217.942 218.921 218.540 -2.1 0.3 -0.2

Nondurables less food

179.818 182.627 181.799 -4.9 1.1 -0.5

Services less rent of shelter (2)

307.055 307.033 309.468 1.6 0.8 0.8

Services less medical care services

317.330 317.912 319.635 2.3 0.7 0.5

Energy

171.881 174.573 181.925 -10.2 5.8 4.2

All items less energy

273.213 273.722 273.819 1.8 0.2 0.0

All items less food and energy

277.696 278.529 278.609 2.0 0.3 0.0

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: Friday, July 15, 2016