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Wednesday, January 20, 2016

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Consumer Price Index, Miami-Fort Lauderdale – December 2015

Area prices down 0.1 percent over the two months; up 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami inched down 0.1 percent over the November-December pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the energy index decreased 2.6 percent and the food index declined 0.8 percent over the two months. During this same period, the all items less food and energy index edged up 0.3 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 3.2 percent, led by price increases for shelter and medical care. (See chart 1 and table 1.)

 Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Miami-Fort Lauderdale, December 2012–December 2015

Food

Food prices declined 0.8 percent during the November-December pricing period, as prices decreased for both food at home (-1.1 percent) and food away from home (-0.3 percent).

From December 2014 to December 2015, the food index advanced 1.1 percent, led by a 2.8 percent price increase for food away from home. Over the year, prices for food at home inched up 0.1 percent.

Energy

The energy index declined 2.6 percent during the two month pricing period, reflecting a 5.3-percent decrease in motor fuel prices. Prices for electricity inched down 0.1 percent over the two months, while prices for utility (piped) gas service were unchanged.

Over the year, the energy index fell 12.5 percent, largely due to a 20.2-percent drop in prices for motor fuel. Prices also declined over the year for both electricity (-4.2 percent) and utility (piped) gas service (-4.5 percent).

All items less food and energy

The index for all items less food and energy edged up 0.3 percent over the November-December pricing period. Price increases for shelter (1.3 percent) and medical care (0.4 percent) were largely offset by price decreases for apparel (-11.5 percent) and education and communication (-0.2 percent).

Since December 2014, the index for all items less food and energy advanced 3.2 percent. Price increases were noted for several categories, most notably shelter (4.6 percent) and medical care (6.5 percent).

Table A. Miami metropolitan area CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month

 
2010 2011 2012 2013 2014 2015
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

-0.2 0.9 1.1 2.2 1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4

April

0.1 0.9 1.8 4.0 0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5

June

-0.1 0.4 -0.1 4.0 -0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2

August

0.2 0.7 0.7 4.5 0.9 1.4 -0.2 0.6 -0.1 2.4 0.0 1.3

October

0.4 0.5 -0.3 3.8 0.3 2.0 0.6 0.9 0.4 2.2 0.2 1.1

December

0.6 0.9 -0.1 3.1 -0.7 1.4 0.2 1.9 -0.6 1.4 -0.1 1.6

The Consumer Price Index for January 2016 is scheduled to be released on Friday, February 19, 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-
Oct.
2015
Nov.
2015
Dec.
2015
Dec.
2014
Oct.
2015
Nov.
2015

Expenditure category

 
 

All Items

246.789 - 246.597 1.6 -0.1 -

All items (November 1977=100)

397.790 - 397.480 - - -

Food and beverages

260.158 - 258.172 1.1 -0.8 -

Food

262.657 - 260.520 1.1 -0.8 -

Food at home

258.868 258.550 255.929 0.1 -1.1 -1.0

Food away from home

271.678 - 270.877 2.8 -0.3 -

Alcoholic beverages

226.073 - 226.627 1.4 0.2 -

Housing

249.557 - 252.215 3.5 1.1 -

Shelter

282.298 283.667 285.986 4.6 1.3 0.8

Rent of primary residence (1)

275.088 275.932 277.078 4.5 0.7 0.4

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

284.463 285.767 286.810 4.1 0.8 0.4

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

284.463 285.767 286.810 4.1 0.8 0.4

Fuels and utilities

171.576 - 171.499 -3.2 0.0 -

Household energy

148.972 148.919 148.886 -4.4 -0.1 0.0

Energy services (1)

146.056 145.974 145.976 -4.2 -0.1 0.0

Electricity (1)

142.627 142.545 142.547 -4.2 -0.1 0.0

Utility (piped) gas service (1)

201.914 201.962 201.965 -4.5 0.0 0.0

Household furnishings and operations

160.946 - 160.277 -0.9 -0.4 -

Apparel

147.674 - 130.619 -5.6 -11.5 -

Transportation

209.337 - 207.681 -3.7 -0.8 -

Private transportation

210.959 - 210.690 -3.6 -0.1 -

Motor fuel

204.286 199.841 193.468 -20.2 -5.3 -3.2

Gasoline (all types)

201.872 197.479 191.181 -20.1 -5.3 -3.2

Unleaded regular (3)

198.270 193.713 187.515 -20.6 -5.4 -3.2

Unleaded midgrade (3) (4)

203.262 200.970 194.817 -17.3 -4.2 -3.1

Unleaded premium (3)

222.395 219.328 212.454 -16.3 -4.5 -3.1

Medical Care

460.337 - 462.139 6.5 0.4 -

Recreation (5)

114.145 - 113.940 0.1 -0.2 -

Education and communication (5)

129.203 - 128.909 1.8 -0.2 -

Other goods and services

340.579 - 341.245 1.7 0.2 -
 

Commodity and service group

 
 

All Items

246.789 - 246.597 1.6 -0.1 -

Commodities

198.831 - 194.753 -2.4 -2.1 -

Commodities less food & beverages

162.241 - 157.041 -5.5 -3.2 -

Nondurables less food & beverages

192.285 - 183.331 -8.0 -4.7 -

Durables

130.903 - 130.346 -0.4 -0.4 -

Services

284.003 - 286.571 3.7 0.9 -
 

Special aggregate indexes

 
 

All items less medical care

237.488 - 237.237 1.3 -0.1 -

All items less shelter

228.198 - 225.880 -0.4 -1.0 -

Commodities less food

164.761 - 159.712 -5.2 -3.1 -

Nondurables

228.060 - 222.565 -2.8 -2.4 -

Nondurables less food

194.488 - 186.012 -7.4 -4.4 -

Services less rent of shelter (2)

294.523 - 295.362 2.2 0.3 -

Services less medical care services

270.391 - 272.981 3.4 1.0 -

Energy

173.895 172.037 169.398 -12.5 -2.6 -1.5

All items less energy

255.057 - 255.349 2.9 0.1 -

All items less food and energy

253.599 - 254.342 3.2 0.3 -

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: Wednesday, January 20, 2016