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Thursday, November 17, 2016

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Consumer Price Index, Miami-Fort Lauderdale – October 2016

Area prices up 0.5 percent over the two months and 1.9 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami was up 0.5 percent over the September-October 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. Over the two-month pricing period, the energy index increased 2.0 percent, while the food index edged down 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 1.9 percent. The index for all items less food and energy advanced 2.8 percent over the year as several categories recorded increases, most notably shelter. (See chart 1 and table 1.)

Food

The food index edged down 0.3 percent during the September-October pricing period as food at home prices declined 0.8 percent. Prices for food away from home increased 0.5 percent over the two months.

Since October 2015—the food index declined 0.6 percent—led by a 2.2-percent decrease in the food at home index. The food away from home index advanced 1.8 percent over the year.

Energy

The energy index rose 2.0 percent during the two-month pricing period, led by a 4.3-percent increase in motor fuel prices. During this period, prices for utility (piped) gas service increased 0.5 percent, while prices for electricity decreased 0.5 percent.

Over the year, the energy index declined 2.2 percent, reflecting a drop in prices for electricity (-6.7 percent) and utility (piped) gas service (-5.7 percent). Motor fuel prices advanced 2.0 percent since October 2015.

All items less food and energy

The index for all items less food and energy rose 0.5 percent during the September-October pricing period. Over the two months, price increases for shelter (1.0 percent) and apparel (3.3 percent), were partially offset by a price decline for medical care (-2.2 percent).

From October 2015 to October 2016, the index for all items less food and energy advanced 2.8 percent as several categories recorded increases, most notably shelter (4.5 percent).

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 0.0 1.6

October

0.3 2.0 0.6 0.9 0.4 2.2 0.2 1.1 0.5 1.9

December

-0.7 1.4 0.2 1.9 -0.6 1.4 -0.1 1.6    

The Consumer Price Index for November 2016 is scheduled to be released on Thursday, December 15, 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-
Aug.
2016
Sep.
2016
Oct.
2016
Oct.
2015
Aug.
2016
Sep.
2016

Expenditure category

 
 

All Items

(R) 250.263 - 251.571 1.9 (R) 0.5 -

All items (November 1977=100)

(R) 403.390 - 405.497 - - -

Food and beverages

259.169 - 258.579 -0.6 -0.2 -

Food

261.781 - 261.035 -0.6 -0.3 -

Food at home

255.164 256.144 253.046 -2.2 -0.8 -1.2

Food away from home

275.274 - 276.630 1.8 0.5 -

Alcoholic beverages

223.882 - 225.511 -0.2 0.7 -

Housing

255.648 - 257.876 3.3 0.9 -

Shelter

292.120 293.091 295.103 4.5 1.0 0.7

Rent of primary residence (1)

287.412 288.589 290.855 5.7 1.2 0.8

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

293.439 294.070 295.788 4.0 0.8 0.6

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

293.439 294.070 295.788 4.0 0.8 0.6

Fuels and utilities

163.470 - 163.926 -4.5 0.3 -

Household energy

139.598 139.329 139.072 -6.6 -0.4 -0.2

Energy services (1)

136.950 136.586 136.329 -6.7 -0.5 -0.2

Electricity (1)

133.734 133.339 133.086 -6.7 -0.5 -0.2

Utility (piped) gas service (1)

189.436 190.608 190.321 -5.7 0.5 -0.2

Household furnishings and operations

161.416 - 161.135 0.1 -0.2 -

Apparel

136.498 - 141.037 -4.5 3.3 -

Transportation

214.685 - 217.570 3.9 1.3 -

Private transportation

218.278 - 220.510 4.5 1.0 -

Motor fuel

199.814 203.140 208.355 2.0 4.3 2.6

Gasoline (all types)

197.504 200.797 205.958 2.0 4.3 2.6

Unleaded regular (3)

193.749 197.264 202.707 2.2 4.6 2.8

Unleaded midgrade (3) (4)

199.859 200.317 204.440 0.6 2.3 2.1

Unleaded premium (3)

219.607 221.308 223.581 0.5 1.8 1.0

Medical Care

(R) 475.023 - 464.399 0.9 (R) -2.2 -

Recreation (5)

116.312 - 116.305 1.9 0.0 -

Education and communication (5)

126.636 - 126.546 -2.1 -0.1 -

Other goods and services

343.741 - 344.221 1.1 0.1 -
 

Commodity and service group

 
 

All Items

(R) 250.263 - 251.571 1.9 (R) 0.5 -

Commodities

(R) 197.252 - 198.698 -0.1 (R) 0.7 -

Commodities less food & beverages

(R) 160.282 - 162.776 0.3 (R) 1.6 -

Nondurables less food & beverages

(R) 187.282 - 191.802 -0.3 (R) 2.4 -

Durables

132.800 - 132.603 1.3 -0.1 -

Services

(R) 291.105 - 292.340 2.9 (R) 0.4 -
 

Special aggregate indexes

 
 

All items less medical care

240.553 - 242.270 2.0 0.7 -

All items less shelter

(R) 228.229 - 228.640 0.2 (R) 0.2 -

Commodities less food

(R) 162.757 - 165.227 0.3 (R) 1.5 -

Nondurables

(R) 225.128 - 227.215 -0.4 (R) 0.9 -

Nondurables less food

(R) 189.579 - 193.937 -0.3 (R) 2.3 -

Services less rent of shelter (2)

(R) 297.815 - 296.458 0.7 (R) -0.5 -

Services less medical care services

276.956 - 278.911 3.2 0.7 -

Energy

166.740 168.012 170.104 -2.2 2.0 1.2

All items less energy

(R) 259.779 - 260.831 2.3 (R) 0.4 -

All items less food and energy

(R) 259.322 - 260.687 2.8 (R) 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.
(R) Revised
 

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

 

Last Modified Date: Thursday, November 17, 2016