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16-1497-ATL
Friday, July 15, 2016

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Consumer Price Index, Miami-Fort Lauderdale – June 2016

Area prices up 0.6 percent over the two months and 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.6 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the rise of the overall index was led by a 5.5-percent increase in the energy index. Over the two month pricing period, the all items less food and energy index and the food index each edged up 0.2 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the last 12 months, the CPI-U rose 1.6 percent. The index for all items less food and energy advanced 2.9 percent over the year as several categories recorded increases, most notably shelter. (See chart 1 and table 1.)

Food

The food index rose 0.2 percent in June as prices for both food at home and food away from home edged up 0.2 percent each.

Since June 2015, the food index advanced 1.0 percent, reflecting higher prices for food away from home (3.1 percent). The food at home index edged down 0.3 percent over the year.

Energy

The energy index advanced 5.5 percent during the two month pricing period, led by a 10.8-percent increase in motor fuel prices. During this same period, prices for electricity edged up 0.2 percent, while prices for utility (piped) gas service were unchanged.

Over the year, the energy index fell 10.5 percent, led by a 14.4-percent drop in motor fuel prices. Since June 2015, prices for both electricity and utility (piped) gas service declined 6.5 percent each.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent in June, as a price increase for medical care (1.7 percent) was largely offset by a 3.7-percent seasonal decline in apparel prices.

Since June 2015, the index for all items less food and energy advanced 2.9 percent, reflecting increases in the shelter and medical care indexes, up 4.4 and 2.6 percent respectively.

Table A. Miami CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2012 2013 2014 2015 2016
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4 0.2 1.6

April

0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5 0.7 1.4

June

-0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2 0.6 1.6

August

0.9 1.4 -0.2 0.6 -0.1 2.4 0.0 1.3    

October

0.3 2.0 0.6 0.9 0.4 2.2 0.2 1.1    

December

-0.7 1.4 0.2 1.9 -0.6 1.4 -0.1 1.6    

The Consumer Price Index for July 2016 is scheduled to be released on Tuesday, August 16, 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 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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.

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
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Apr.
2016
May
2016
Jun.
2016
Jun.
2015
Apr.
2016
May
2016

Expenditure category

 
 

All Items

248.741 - 250.208 1.6 0.6 -

All items (November 1977=100)

400.936 - 403.300 - - -

Food and beverages

258.940 - 259.448 1.1 0.2 -

Food

261.302 - 261.904 1.0 0.2 -

Food at home

255.030 256.353 255.640 -0.3 0.2 -0.3

Food away from home

274.258 - 274.855 3.1 0.2 -

Alcoholic beverages

227.204 - 226.385 3.2 -0.4 -

Housing

253.624 - 253.858 3.1 0.1 -

Shelter

289.547 289.446 289.869 4.4 0.1 0.1

Rent of primary residence (1)

282.039 283.457 283.840 5.0 0.6 0.1

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

291.265 290.791 290.861 4.0 -0.1 0.0

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

291.265 290.791 290.861 4.0 -0.1 0.0

Fuels and utilities

163.357 - 163.549 -4.6 0.1 -

Household energy

139.473 139.497 139.687 -6.6 0.2 0.1

Energy services (1)

136.762 136.873 137.019 -6.4 0.2 0.1

Electricity (1)

133.475 133.588 133.734 -6.5 0.2 0.1

Utility (piped) gas service (1)

192.299 192.294 192.324 -6.5 0.0 0.0

Household furnishings and operations

160.287 - 160.004 -1.7 -0.2 -

Apparel

143.993 - 138.735 -3.0 -3.7 -

Transportation

212.091 - 218.605 -1.3 3.1 -

Private transportation

215.279 - 221.786 -1.0 3.0 -

Motor fuel

192.727 205.947 213.481 -14.4 10.8 3.7

Gasoline (all types)

190.535 203.606 211.061 -14.4 10.8 3.7

Unleaded regular (3)

187.144 200.354 207.874 -14.9 11.1 3.8

Unleaded midgrade (3) (4)

191.351 204.397 209.804 -10.9 9.6 2.6

Unleaded premium (3)

209.978 220.678 227.600 -11.1 8.4 3.1

Medical Care

459.882 - 467.806 2.6 1.7 -

Recreation (5)

116.531 - 117.435 1.7 0.8 -

Education and communication (5)

127.612 - 128.026 0.4 0.3 -

Other goods and services

340.495 - 342.230 1.4 0.5 -
 

Commodity and service group

 
 

All Items

248.741 - 250.208 1.6 0.6 -

Commodities

196.746 - 199.130 -1.5 1.2 -

Commodities less food & beverages

159.639 - 162.968 -3.9 2.1 -

Nondurables less food & beverages

186.786 - 192.523 -5.1 3.1 -

Durables

131.908 - 132.063 -1.6 0.1 -

Services

288.856 - 289.715 3.2 0.3 -
 

Special aggregate indexes

 
 

All items less medical care

239.520 - 240.749 1.6 0.5 -

All items less shelter

227.268 - 229.351 -0.2 0.9 -

Commodities less food

162.248 - 165.442 -3.6 2.0 -

Nondurables

224.756 - 228.019 -1.5 1.5 -

Nondurables less food

189.305 - 194.667 -4.7 2.8 -

Services less rent of shelter (2)

295.843 - 297.689 1.5 0.6 -

Services less medical care services

275.412 - 275.956 3.3 0.2 -

Energy

163.624 169.316 172.662 -10.5 5.5 2.0

All items less energy

258.456 - 258.992 2.6 0.2 -

All items less food and energy

257.853 - 258.377 2.9 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 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.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Friday, July 15, 2016