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16-1012-ATL
Tuesday, May 17, 2016

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Consumer Price Index, Miami-Fort Lauderdale – April 2016

Area prices up 0.7 percent over the two months and 1.4 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.7 percent over the March-April pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index rose 0.5 percent and the energy index advanced 4.7 percent over the two months. During this same period, the food index declined 0.4 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 1.4 percent. The index for all items less food and energy advanced 2.9 percent, led by price increases for shelter and medical care. (See chart 1 and table 1.)

Food

Food prices declined 0.4 percent during the March-April pricing period, led by a 1.4 decline in the food at home index. The food away from home index increased 1.0 percent over the two months.

From April 2015 to April 2016, the food index advanced 1.3 percent, as prices increased for food away from home (3.0 percent) and for food at home (0.2 percent).

Energy

The energy index advanced 4.7 percent during the two month pricing period, led by a 14.0-percent increase in motor fuel prices. Prices for electricity and utility (piped) gas service declined over the March-April pricing period, down 3.5 and 4.2 percent, respectively.

Over the year, the energy index fell 12.8 percent, led by a 16.5-percent drop in motor fuel prices. Prices for electricity (-9.0 percent) and utility (piped) gas service (-4.0 percent) also declined over the year.

All items less food and energy

The index for all items less food and energy rose 0.5 percent over the March-April pricing period as price increases for shelter (0.5 percent) and apparel (4.1 percent), were partially offset by a 1.0 percent decline in the education and communication index.

Since April 2015, the index for all items less food and energy advanced 2.9 percent, reflecting increases in the shelter and medical care indexes, up 4.2 and 4.1 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    

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 May 2016 is scheduled to be released on Thursday, June 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-
Feb.
2016
Mar.
2016
Apr.
2016
Apr.
2015
Feb.
2016
Mar.
2016

Expenditure category

 
 

All Items

247.126 - 248.741 1.4 0.7 -

All items (November 1977=100)

398.332 - 400.936 - - -

Food and beverages

260.086 - 258.940 1.3 -0.4 -

Food

262.459 - 261.302 1.3 -0.4 -

Food at home

258.652 253.029 255.030 0.2 -1.4 0.8

Food away from home

271.634 - 274.258 3.0 1.0 -

Alcoholic beverages

228.204 - 227.204 2.0 -0.4 -

Housing

253.240 - 253.624 2.7 0.2 -

Shelter

287.973 288.972 289.547 4.2 0.5 0.2

Rent of primary residence (1)

278.524 280.443 282.039 3.9 1.3 0.6

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

288.367 289.660 291.265 4.3 1.0 0.6

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

288.367 289.660 291.265 4.3 1.0 0.6

Fuels and utilities

167.489 - 163.357 -6.7 -2.5 -

Household energy

144.427 144.928 139.473 -9.1 -3.4 -3.8

Energy services (1)

141.702 142.192 136.762 -8.9 -3.5 -3.8

Electricity (1)

138.260 138.873 133.475 -9.0 -3.5 -3.9

Utility (piped) gas service (1)

200.710 195.862 192.299 -4.0 -4.2 -1.8

Household furnishings and operations

161.801 - 160.287 -2.0 -0.9 -

Apparel

138.362 - 143.993 -2.6 4.1 -

Transportation

203.650 - 212.091 -1.6 4.1 -

Private transportation

206.172 - 215.279 -1.4 4.4 -

Motor fuel

169.043 178.156 192.727 -16.5 14.0 8.2

Gasoline (all types)

167.034 176.078 190.535 -16.5 14.1 8.2

Unleaded regular (3)

163.009 172.211 187.144 -17.0 14.8 8.7

Unleaded midgrade (3) (4)

174.392 184.022 191.351 -14.0 9.7 4.0

Unleaded premium (3)

192.844 199.259 209.978 -12.6 8.9 5.4

Medical Care

460.469 - 459.882 4.1 -0.1 -

Recreation (5)

115.769 - 116.531 1.6 0.7 -

Education and communication (5)

128.916 - 127.612 0.2 -1.0 -

Other goods and services

339.462 - 340.495 0.6 0.3 -
 

Commodity and service group

 
 

All Items

247.126 - 248.741 1.4 0.7 -

Commodities

194.455 - 196.746 -2.0 1.2 -

Commodities less food & beverages

155.577 - 159.639 -4.8 2.6 -

Nondurables less food & beverages

178.427 - 186.786 -6.8 4.7 -

Durables

133.632 - 131.908 -1.0 -1.3 -

Services

287.679 - 288.856 3.2 0.4 -
 

Special aggregate indexes

 
 

All items less medical care

237.839 - 239.520 1.3 0.7 -

All items less shelter

225.628 - 227.268 -0.4 0.7 -

Commodities less food

158.349 - 162.248 -4.5 2.5 -

Nondurables

220.924 - 224.756 -2.2 1.7 -

Nondurables less food

181.479 - 189.305 -6.3 4.3 -

Services less rent of shelter (2)

295.175 - 295.843 1.7 0.2 -

Services less medical care services

274.246 - 275.412 3.0 0.4 -

Energy

156.323 160.527 163.624 -12.8 4.7 1.9

All items less energy

257.541 - 258.456 2.7 0.4 -

All items less food and energy

256.577 - 257.853 2.9 0.5 -

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: Tuesday, May 17, 2016