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15-1207-NEW
Thursday, June 18, 2015

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Consumer Price Index, New York-Northern New Jersey – May 2015

Area prices rose 0.4 percent over the month and down 0.1 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 0.4 percent in May, after a 0.1-percent increase in April, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the May increase mainly 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 down 0.1 percent. (See table A.) In contrast, the all items less food and energy index advanced 1.5 percent. (See chart 1 and table 1.)

 Chart 1. Over-the-year percent change in CPI-U, New York-Northern New Jersey-Long Island, May 2012-May 2015

Food

After rising 0.3 percent in April, the food index inched down 0.1 percent in May, due to a 0.5-percent decline in prices for food at home. Lower prices were recorded for a number of items including ham, nonfrozen noncarbonated juices and drinks, and fresh fish and seafood. Prices for food away from home rose 0.5 percent over the month.

For the year ended May 2015, the food index rose 2.2 percent. Prices for food at home increased 1.3 percent, and prices for food away from home advanced 3.5 percent.

Energy

The energy index rose 4.5 percent, due largely to a 10.6-percent jump in gasoline prices, the largest increase since June 2009. Natural gas prices were up 8.2 percent in May, while prices for electricity fell 2.2 percent. Fuel oil prices were higher over the month.

Over the year, the energy index dropped 19.0 percent, due primarily to lower prices for gasoline, down 27.0 percent. Among the household energy components, prices fell 18.2 percent for natural gas and 6.4 percent for electricity.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent, led by higher prices for public transportation, particularly airline fares. Prices for shelter rose 0.2 percent, reflecting higher prices for residential rent (0.4 percent) and owners’ equivalent rent (0.2 percent). Moderating the advance in the all items less food and energy group were price declines for household furnishings and operations (-0.9 percent), recreation (-0.6 percent), and apparel (-0.7 percent).

From May 2014 to May 2015, the index for all items less food and energy advanced 1.5 percent. Prices for shelter increased 2.0 percent, with residential rent up 2.6 percent. Higher prices were also recorded for medical care (3.0 percent) and apparel (3.6 percent)..

Table A. New York-Northern New Jersey-Long Island CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2010 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 1-month 12-month

January

0.2 2.4 0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9 0.1 -0.5

February

0.0 1.8 0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1 0.3 0.1

March

0.5 2.1 0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3 0.2 -0.1

April

0.2 2.1 0.4 2.5 0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0

May

0.2 2.2 0.6 2.9 0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1

June

-0.1 1.5 0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7    

July

0.1 1.5 0.3 3.3 -0.2 1.1 0.2 2.1 0.1 1.6    

August

0.2 1.4 0.4 3.5 0.6 1.4 0.1 1.7 -0.2 1.3    

September

0.0 1.2 0.2 3.8 0.4 1.6 0.3 1.6 0.0 1.0    

October

0.2 1.5 -0.2 3.3 -0.1 1.7 -0.6 1.1 -0.2 1.3    

November

0.0 1.3 -0.3 3.0 0.0 2.0 0.1 1.2 -0.4 0.8    

December

0.0 1.4 -0.4 2.7 -0.3 2.1 0.0 1.5 -0.5 0.3    

CPI-W

In May, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 255.946, up 0.5 percent over the month. The CPI-W decreased 0.5 percent over the year.

The June 2015 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Friday, July 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 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 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-
March
2015
April
2015
May
2015
May
2014
March
2015
April
2015
 

Expenditure category

 
 

All items

259.647 259.959 261.066 -0.1 0.5 0.4

All items (1967=100)

750.602 751.506 754.705      
 

Food and beverages

255.006 255.607 255.673 2.1 0.3 0.0

Food

255.119 255.844 255.714 2.2 0.2 -0.1

Food at home

254.523 255.717 254.472 1.3 0.0 -0.5

Food away from home

262.687 262.786 264.191 3.5 0.6 0.5

Alcoholic beverages

248.862 247.573 250.617 1.1 0.7 1.2
 

Housing

277.589 277.917 278.276 0.4 0.2 0.1

Shelter

346.221 347.220 347.827 2.0 0.5 0.2

Rent of primary residence (1)

355.451 355.424 357.021 2.6 0.4 0.4

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

352.207 353.401 353.984 2.0 0.5 0.2

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

351.892 353.084 353.649 2.0 0.5 0.2

Fuels and utilities

188.475 185.959 186.864 -10.3 -0.9 0.5

Household energy

181.895 179.013 179.914 -12.1 -1.1 0.5

Energy services (1)

170.128 169.186 169.969 -9.9 -0.1 0.5

Electricity (1)

184.474 186.216 182.184 -6.4 -1.2 -2.2

Utility (piped) gas service (1)

135.968 129.536 140.192 -18.2 3.1 8.2

Household furnishings and operations

115.631 115.676 114.638 -2.3 -0.9 -0.9
 

Apparel

133.591 130.901 130.006 3.6 -2.7 -0.7
 

Transportation

211.781 213.655 220.004 -6.5 3.9 3.0

Private transportation

197.858 199.197 204.068 -7.9 3.1 2.4

Motor fuel

191.928 194.608 215.140 -27.0 12.1 10.6

Gasoline (all types)

190.960 193.665 214.172 -27.0 12.2 10.6

Gasoline, unleaded regular (3)

190.222 192.992 214.261 -27.6 12.6 11.0

Gasoline, unleaded midgrade (3) (4)

198.829 201.630 218.663 -25.9 10.0 8.4

Gasoline, unleaded premium (3)

199.369 201.850 218.509 -24.6 9.6 8.3
 

Medical care

449.783 450.538 450.812 3.0 0.2 0.1
 

Recreation (5)

119.547 119.508 118.792 -0.4 -0.6 -0.6
 

Education and communication (5)

140.362 140.234 140.373 -0.1 0.0 0.1
 

Other goods and services

400.869 400.334 403.847 1.2 0.7 0.9
 

Commodity and service group

 
 

All items

259.647 259.959 261.066 -0.1 0.5 0.4

Commodities

189.283 189.087 190.381 -2.5 0.6 0.7

Commodities less food and beverages

148.198 147.628 149.448 -6.1 0.8 1.2

Nondurables less food and beverages

185.769 184.203 187.881 -8.2 1.1 2.0

Durables

99.718 100.222 99.991 -1.7 0.3 -0.2

Services

319.670 320.389 321.366 1.1 0.5 0.3
 

Special aggregate indexes

 
 

All items less medical care

251.379 251.673 252.808 -0.3 0.6 0.5

All items less shelter

225.604 225.628 226.959 -1.4 0.6 0.6

Commodities less food

152.149 151.555 153.423 -5.7 0.8 1.2

Nondurables

222.118 221.579 223.562 -2.7 0.7 0.9

Nondurables less food

189.761 188.205 191.860 -7.6 1.1 1.9

Services less rent of shelter (2)

301.477 301.887 303.333 -0.1 0.6 0.5

Services less medical care services

309.437 310.166 311.153 1.0 0.6 0.3

Energy

188.255 187.458 195.871 -19.0 4.0 4.5

All items less energy

268.367 268.788 269.205 1.6 0.3 0.2

All items less food and energy

272.499 272.868 273.386 1.5 0.3 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.
 

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: Thursday, June 18, 2015