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14-2157-ATL
November 20, 2014

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Consumer Price Index, South Region-October 2014

Prices in the South down 0.3 percent in October; up 1.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South declined 0.3 percent in October, the U.S. Bureau of Labor Statistics reported today. The energy index decreased 5.1 percent since September 2014. The all items less food and energy index was up 0.3 percent over the month, as price increases for apparel and shelter were largely offset by price decreases in a few categories, most notably used cars and trucks. The food index inched up 0.1 percent in October. (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 all items CPI-U advanced 1.6 percent. The index for all items less food and energy rose 1.9 percent over the year. (See chart 1.)

 Chart 1. Over-the-year percent change in CPI-U, South region, October 2011–October 2014

Food

The food index inched up 0.1 percent in October. Prices for food away from home and food at home increased 0.2 and 0.1 percent, respectively.

Since October 2013, the food index advanced 2.6 percent, reflecting higher prices for both food at home (2.7 percent) and food away from home (2.6 percent).

Energy

The energy index declined 5.1 percent over the month, led by price decreases in motor fuel and electricity, down 5.5 and 5.3 percent, respectively. Prices for utility (piped) gas service inched down 0.1 percent in October.

Over the year, energy prices decreased 1.6 percent, as a 5.4-percent decrease in motor fuel prices was partially offset by price increases for electricity (3.5 percent) and utility (piped) gas service (3.1 percent).

All items less food and energy

The all items less food and energy index rose 0.3 percent in October, mainly reflecting a seasonal increase in apparel prices (2.6 percent). A price increase was also noted for shelter, which edged up 0.2 percent. These advances were largely offset by a 2.1-percent decrease in prices for used cars and trucks.

Since October 2013, the all items less food and energy index advanced 1.9 percent, led by a price increase for shelter (3.4 percent).

 

Table A. South region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month

 
2009 2010 2011 2012 2013 2014
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

0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2 0.4 1.6 0.3 1.7

February

0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8 0.4 1.2

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5 0.6 1.5

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3 0.2 2.4

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2 -0.1 2.0

August

0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7 -0.2 1.7

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3 0.1 1.7

October

0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1 -0.2 1.3 -0.3 1.6

November

0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6 -0.3 1.5 - -

December

-0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7 0.1 1.8 - -

The November 2014 Consumer Price Index for the South region is scheduled to be released on Wednesday, December 17, 2014 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 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 4,000 housing units and approximately 26,000 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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

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
South (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Aug.
2014
Sep.
2014
Oct.
2014
Oct.
2013
Aug.
2014
Sep.
2014

Expenditure category

 
 

All Items

231.611 231.762 231.131 1.6 -0.2 -0.3

All items (December 1977=100)

375.705 375.950 374.926      

Food and beverages

242.188 242.958 243.349 2.5 0.5 0.2

Food

243.595 244.435 244.771 2.6 0.5 0.1

Food at home

239.635 240.648 240.848 2.7 0.5 0.1

Food away from home

252.353 252.945 253.489 2.6 0.5 0.2

Alcoholic beverages

221.932 221.751 222.879 0.7 0.4 0.5

Housing

218.657 218.871 218.180 2.8 -0.2 -0.3

Shelter

244.437 244.915 245.401 3.4 0.4 0.2

Rent of primary residence (1)

248.868 249.696 250.536 3.6 0.7 0.3

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

246.947 247.408 248.066 3.1 0.5 0.3

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

246.947 247.405 248.064 3.1 0.5 0.3

Fuels and utilities

240.622 240.094 232.365 3.4 -3.4 -3.2

Household energy

202.457 201.820 192.649 3.4 -4.8 -4.5

Energy services (1)

202.315 201.702 192.414 3.5 -4.9 -4.6

Electricity (1)

201.483 200.986 190.427 3.5 -5.5 -5.3

Utility (piped) gas service (1)

190.984 189.676 189.416 3.1 -0.8 -0.1

Household furnishings and operations

122.775 122.581 122.608 -1.3 -0.1 0.0

Apparel

131.830 137.500 141.107 0.7 7.0 2.6

Transportation

218.549 216.416 212.800 -1.2 -2.6 -1.7

Private transportation

217.161 215.116 211.206 -1.1 -2.7 -1.8

New and used motor vehicles (3)

103.794 103.447 103.008 0.1 -0.8 -0.4

New vehicles

152.785 152.721 152.959 0.5 0.1 0.2

New cars and trucks (3) (4)

103.992 103.944 104.116 0.6 0.1 0.2

New cars (4)

154.191 154.279 154.584 0.2 0.3 0.2

Used cars and trucks

151.912 149.946 146.766 -1.6 -3.4 -2.1

Motor fuel

294.814 288.305 272.547 -5.4 -7.6 -5.5

Gasoline (all types)

293.183 286.657 270.847 -5.4 -7.6 -5.5

Unleaded regular (4)

290.648 284.020 267.838 -5.7 -7.8 -5.7

Unleaded midgrade (4) (5)

308.751 302.405 286.894 -4.7 -7.1 -5.1

Unleaded premium (4)

296.237 290.420 277.087 -3.8 -6.5 -4.6

Medical care

415.472 415.075 415.601 1.6 0.0 0.1

Medical care commodities

332.789 332.659 332.811 2.2 0.0 0.0

Medical care services

443.374 442.868 443.547 1.4 0.0 0.2

Professional services

352.442 351.940 352.557 0.9 0.0 0.2

Recreation (3)

115.344 115.376 115.723 0.1 0.3 0.3

Education and communication (3)

135.248 135.561 135.265 1.3 0.0 -0.2

Other goods and services

400.864 400.392 402.960 2.3 0.5 0.6
 

Commodity and service group

 
 

All Items

231.611 231.762 231.131 1.6 -0.2 -0.3

Commodities

190.079 190.179 189.105 -0.1 -0.5 -0.6

Commodities less food and beverages

164.104 163.933 162.303 -1.5 -1.1 -1.0

Nondurables less food and beverages

218.263 218.400 215.384 -1.6 -1.3 -1.4

Nondurables less food, beverages, and apparel

271.086 268.090 261.266 -2.2 -3.6 -2.5

Durables

113.421 112.999 112.579 -1.5 -0.7 -0.4

Services

273.900 274.102 273.893 2.8 0.0 -0.1

Rent of shelter (2)

250.779 251.270 251.791 3.3 0.4 0.2

Transportation services

302.795 301.863 304.560 2.1 0.6 0.9

Other services

326.112 326.664 327.327 1.9 0.4 0.2
 

Special aggregate indexes

 
 

All items less medical care

221.285 221.457 220.784 1.6 -0.2 -0.3

All items less food

229.531 229.576 228.798 1.5 -0.3 -0.3

All items less shelter

227.957 227.973 226.875 0.9 -0.5 -0.5

Commodities less food

166.013 165.841 164.280 -1.5 -1.0 -0.9

Nondurables

230.107 230.539 229.096 0.4 -0.4 -0.6

Nondurables less food

218.253 218.373 215.588 -1.4 -1.2 -1.3

Nondurables less food and apparel

265.587 262.843 256.725 -2.0 -3.3 -2.3

Services less rent of shelter (2)

311.581 311.420 310.276 2.3 -0.4 -0.4

Services less medical care services

258.424 258.665 258.406 2.9 0.0 -0.1

Energy

240.328 237.036 225.058 -1.6 -6.4 -5.1

All items less energy

231.359 231.897 232.537 2.0 0.5 0.3

All items less food and energy

229.610 230.096 230.790 1.9 0.5 0.3

Commodities less food and energy commodities

148.860 149.611 150.101 -0.4 0.8 0.3

Energy commodities

299.000 292.465 276.664 -5.3 -7.5 -5.4

Services less energy services

281.234 281.528 282.350 2.7 0.4 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 December 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.
 

- Data not available.
Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Thursday, November 20, 2014