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Tuesday, March 24, 2015

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Consumer Price Index, South Region – February 2015

Prices in the South up 0.5 percent in February; down 0.3 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South increased 0.5 percent in February, the U.S. Bureau of Labor Statistics reported today. The all items less food and energy index advanced 0.4 percent in February, as price increases were noted primarily for shelter and apparel. The energy index rose 2.0 percent and the food index edged up 0.3 percent over the month. (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 declined 0.3 percent. The index for all items less food and energy advanced 1.6 percent over the year. (See chart 1.)

 Chart 1. Over-the-year percent change in the CPI-U, South region, February 2012-February 2015

 

Food

The food index edged up 0.3 percent in February, as prices increased for both food away from home (0.4 percent) and food at home (0.2 percent).

Since February 2014, the food index advanced 3.0 percent, reflecting price increases for both food at home and food away from home, up 2.7 and 3.4 percent, respectively.

Energy

The energy index rose 2.0 percent over the month, led by a 5.0-percent price increase for motor fuel. Utility (piped) gas service prices decreased 3.6 percent, while the electricity index was unchanged in February.

Over the year, energy prices declined 19.3 percent, reflecting a 33.5-percent drop in motor fuel prices. Utility (piped) gas service prices declined 7.1 percent since February 2014, and electricity prices were up 1.2 percent.

All items less food and energy

The all items less food and energy index increased 0.4 percent in February, led by price increases for shelter and apparel, up 0.3 and 1.4 percent, respectively.

Since February 2014, the all items less food and energy index advanced 1.6 percent, led by price increases for shelter (3.1 percent), medical care (1.5 percent), and other goods and services (1.9 percent).

Table A. South region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2011 2012 2013 2014 2015
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.5 1.7 0.5 3.2 0.4 1.6 0.3 1.7 -0.7 -0.4

February

0.5 2.2 0.6 3.3 0.9 1.8 0.4 1.2 0.5 -0.3

March

1.2 2.8 0.7 2.8 0.3 1.5 0.6 1.5    

April

0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3    

May

0.5 4.0 -0.4 1.6 0.0 1.3 0.2 2.4    

June

-0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3    

July

0.2 4.1 -0.2 1.4 0.2 2.2 -0.1 2.0    

August

0.4 4.3 0.6 1.6 0.1 1.7 -0.2 1.7    

September

0.0 4.1 0.5 2.1 0.0 1.3 0.1 1.7    

October

-0.2 3.7 -0.2 2.1 -0.2 1.3 -0.3 1.6    

November

0.0 3.8 -0.5 1.6 -0.3 1.5 -0.6 1.3    

December

-0.2 3.3 -0.1 1.7 0.1 1.8 -0.6 0.6    

The Consumer Price Index for March 2015 is scheduled to be released on Friday, April 17, 2015 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-
Dec.
2014
Jan.
2015
Feb.
2015
Feb.
2014
Dec.
2014
Jan.
2015

Expenditure category

 
 

All Items

228.451 226.855 227.944 -0.3 -0.2 0.5

All items (December 1977=100)

370.578 367.990 369.757      

Food and beverages

244.250 244.810 245.444 2.8 0.5 0.3

Food

245.663 246.280 246.924 3.0 0.5 0.3

Food at home

241.044 241.728 242.165 2.7 0.5 0.2

Food away from home

255.417 255.943 256.901 3.4 0.6 0.4

Alcoholic beverages

223.922 223.687 224.177 0.8 0.1 0.2

Housing

218.569 218.993 219.385 2.3 0.4 0.2

Shelter

246.380 247.197 247.887 3.1 0.6 0.3

Rent of primary residence (1)

252.723 253.373 254.203 4.0 0.6 0.3

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

249.315 249.880 250.331 2.9 0.4 0.2

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

249.309 249.872 250.323 2.9 0.4 0.2

Fuels and utilities

231.030 230.105 229.614 0.7 -0.6 -0.2

Household energy

190.676 189.693 188.775 -0.6 -1.0 -0.5

Energy services (1)

190.560 189.744 188.804 0.0 -0.9 -0.5

Electricity (1)

188.123 187.707 187.678 1.2 -0.2 0.0

Utility (piped) gas service (1)

190.639 187.295 180.506 -7.1 -5.3 -3.6

Household furnishings and operations

122.128 122.116 122.089 -0.8 0.0 0.0

Apparel

132.677 129.018 130.884 -3.1 -1.4 1.4

Transportation

199.639 190.415 193.490 -10.2 -3.1 1.6

Private transportation

197.594 188.164 191.291 -10.5 -3.2 1.7

New and used motor vehicles (3)

102.071 101.987 102.428 -0.3 0.3 0.4

New vehicles

153.346 152.980 153.333 0.4 0.0 0.2

New cars and trucks (3) (4)

104.390 104.137 104.378 0.4 0.0 0.2

New cars (4)

154.711 153.920 154.467 -0.4 -0.2 0.4

Used cars and trucks

141.243 141.051 143.214 -2.3 1.4 1.5

Motor fuel

220.729 183.151 192.244 -33.5 -12.9 5.0

Gasoline (all types)

218.795 181.308 190.667 -33.6 -12.9 5.2

Unleaded regular (4)

215.110 177.411 187.033 -34.4 -13.1 5.4

Unleaded midgrade (4) (5)

236.285 198.410 206.808 -31.4 -12.5 4.2

Unleaded premium (4)

230.519 195.944 203.351 -29.8 -11.8 3.8

Medical care

417.474 417.671 420.167 1.5 0.6 0.6

Medical care commodities

334.991 333.341 336.832 3.5 0.5 1.0

Medical care services

445.252 446.245 448.262 0.9 0.7 0.5

Professional services

354.606 354.700 352.968 0.8 -0.5 -0.5

Recreation (3)

115.502 115.948 116.318 0.3 0.7 0.3

Education and communication (3)

134.559 134.728 134.623 0.4 0.0 -0.1

Other goods and services

403.484 403.790 404.270 1.9 0.2 0.1
 

Commodity and service group

 
 

All Items

228.451 226.855 227.944 -0.3 -0.2 0.5

Commodities

183.139 179.157 180.661 -4.3 -1.4 0.8

Commodities less food and beverages

153.753 148.064 149.876 -8.5 -2.5 1.2

Nondurables less food and beverages

197.983 186.119 189.474 -12.8 -4.3 1.8

Nondurables less food, beverages, and apparel

238.475 221.753 226.010 -15.6 -5.2 1.9

Durables

111.685 111.328 111.794 -1.6 0.1 0.4

Services

274.359 275.051 275.750 2.4 0.5 0.3

Rent of shelter (2)

252.770 253.579 254.295 3.0 0.6 0.3

Transportation services

305.249 305.810 307.498 3.0 0.7 0.6

Other services

326.734 327.885 328.526 1.6 0.5 0.2
 

Special aggregate indexes

 
 

All items less medical care

217.937 216.281 217.299 -0.5 -0.3 0.5

All items less food

225.575 223.642 224.799 -0.8 -0.3 0.5

All items less shelter

222.662 220.056 221.318 -1.8 -0.6 0.6

Commodities less food

155.964 150.406 152.187 -8.1 -2.4 1.2

Nondurables

220.148 214.021 216.122 -5.2 -1.8 1.0

Nondurables less food

199.223 188.013 191.206 -12.0 -4.0 1.7

Nondurables less food and apparel

236.059 220.812 224.730 -14.4 -4.8 1.8

Services less rent of shelter (2)

310.105 310.670 311.368 1.7 0.4 0.2

Services less medical care services

258.789 259.450 260.056 2.5 0.5 0.2

Energy

200.483 182.897 186.545 -19.3 -7.0 2.0

All items less energy

232.305 232.499 233.304 1.8 0.4 0.3

All items less food and energy

230.362 230.483 231.318 1.6 0.4 0.4

Commodities less food and energy commodities

148.011 147.055 147.798 -0.9 -0.1 0.5

Energy commodities

224.803 187.113 196.186 -33.3 -12.7 4.8

Services less energy services

283.079 283.940 284.824 2.6 0.6 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: Tuesday, March 24, 2015