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Friday, September 16, 2016

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Consumer Price Index, South Region – August 2016

Prices up 0.1 percent over the month and 1.0 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South inched up 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. The all items less food and energy index and the food index each edged up 0.2 percent over the month. The energy index declined 1.0 percent in August. (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 rose 1.0 percent. The all items less food and energy index increased 2.2 percent over the year reflecting price increases for several categories, most notably shelter and medical care. (See chart 1.)

Food

Prices for food edged up 0.2 percent in August. Prices for food away from home (0.3 percent) and for food at home (0.1 percent) also increased over the month.

The food index edged down 0.2 percent over the year, reflecting a 1.8 percent decline in the food at home index. The food away from home index was up 2.0 percent from August 2015 to August 2016.

Energy

The energy index decreased 1.0 percent in August, led by a 2.4 percent decline in motor fuel prices. The utility (piped) gas service index rose 1.1 percent over-the-month, while the electricity index was unchanged.

From August 2015 to August 2016, energy prices decreased 8.2 percent, reflecting price declines for motor fuel (-14.9 percent) and electricity (-2.4 percent). Utility (piped) gas service prices were up 2.8 percent over the year.

All items less food and energy

The all items less food and energy index edged up 0.2 percent in August. Price increases for medical care (1.4 percent), shelter (0.2 percent), and education and communication (0.4 percent) were largely offset by price decreases for recreation (-0.5 percent) and apparel (-0.6 percent).

Since August 2015, the all items less food and energy index advanced 2.2 percent, led by increases in several indexes, most notably shelter (2.7 percent) and medical care (5.0 percent).

Table A. South region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2012 2013 2014 2015 2016
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.5 3.2 0.4 1.6 0.3 1.7 -0.7 -0.4 0.0 1.2

February

0.6 3.3 0.9 1.8 0.4 1.2 0.5 -0.3 0.1 0.7

March

0.7 2.8 0.3 1.5 0.6 1.5 0.6 -0.3 0.6 0.7

April

0.4 2.5 -0.2 0.9 0.5 2.3 0.3 -0.6 0.4 0.9

May

-0.4 1.6 0.0 1.3 0.2 2.4 0.4 -0.4 0.4 0.9

June

-0.2 1.7 0.4 1.9 0.2 2.3 0.5 -0.1 0.4 0.8

July

-0.2 1.4 0.2 2.2 -0.1 2.0 -0.1 -0.1 -0.2 0.7

August

0.6 1.6 0.1 1.7 -0.2 1.7 -0.2 -0.2 0.1 1.0

September

0.5 2.1 0.0 1.3 0.1 1.7 -0.2 -0.4    

October

-0.2 2.1 -0.2 1.3 -0.3 1.6 0.0 -0.1    

November

-0.5 1.6 -0.3 1.5 -0.6 1.3 -0.2 0.3    

December

-0.1 1.7 0.1 1.8 -0.6 0.6 -0.4 0.5    

The Consumer Price Index for September 2016 is scheduled to be released on Tuesday, October 18, 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 http://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 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-
Jun.
2016
Jul.
2016
Aug.
2016
Aug.
2015
Jun.
2016
Jul.
2016

Expenditure category

 
 

All Items

233.838 233.287 233.508 1.0 -0.1 0.1

All items (December 1977=100)

379.317 378.423 378.783 - - -

Food and beverages

245.427 245.569 245.933 -0.2 0.2 0.1

Food

246.622 246.816 247.244 -0.2 0.3 0.2

Food at home

236.877 236.861 236.995 -1.8 0.0 0.1

Food away from home

263.986 264.492 265.365 2.0 0.5 0.3

Alcoholic beverages

228.427 227.781 227.167 1.1 -0.6 -0.3

Housing

226.264 226.738 227.181 1.9 0.4 0.2

Shelter

257.928 258.147 258.699 2.7 0.3 0.2

Rent of primary residence (1)

265.603 266.237 267.107 3.1 0.6 0.3

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

259.261 259.773 260.583 2.5 0.5 0.3

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

259.250 259.762 260.572 2.5 0.5 0.3

Fuels and utilities

231.538 234.047 234.622 -0.8 1.3 0.2

Household energy

188.923 191.331 191.542 -2.0 1.4 0.1

Energy services (1)

189.561 191.968 192.289 -1.8 1.4 0.2

Electricity (1)

190.668 192.323 192.398 -2.4 0.9 0.0

Utility (piped) gas service (1)

166.364 173.645 175.598 2.8 5.6 1.1

Household furnishings and operations

121.493 121.494 121.468 -0.1 0.0 0.0

Apparel

135.240 132.727 131.921 0.5 -2.5 -0.6

Transportation

199.690 196.101 194.845 -2.6 -2.4 -0.6

Private transportation

197.017 193.899 192.984 -2.7 -2.0 -0.5

New and used motor vehicles (3)

103.558 103.238 103.168 -0.5 -0.4 -0.1

New vehicles

153.173 152.600 152.844 -0.1 -0.2 0.2

New cars and trucks (3) (4)

104.235 103.837 104.035 -0.1 -0.2 0.2

New cars (4)

153.271 152.591 152.825 -0.5 -0.3 0.2

Used cars and trucks

146.666 145.811 145.339 -3.4 -0.9 -0.3

Motor fuel

197.954 185.421 181.044 -14.9 -8.5 -2.4

Gasoline (all types)

197.173 184.548 180.147 -14.9 -8.6 -2.4

Unleaded regular (4)

192.795 179.823 175.370 -15.6 -9.0 -2.5

Unleaded midgrade (4) (5)

215.973 204.883 200.720 -12.5 -7.1 -2.0

Unleaded premium (4)

214.038 205.078 201.483 -10.9 -5.9 -1.8

Medical care

438.307 440.883 447.094 5.0 2.0 1.4

Medical care commodities

350.409 352.624 359.666 4.0 2.6 2.0

Medical care services

467.982 470.670 476.466 5.4 1.8 1.2

Professional services

363.009 366.261 366.437 2.7 0.9 0.0

Recreation (3)

118.389 117.984 117.345 1.2 -0.9 -0.5

Education and communication (3)

136.717 136.731 137.224 0.8 0.4 0.4

Other goods and services

416.425 415.302 415.343 2.0 -0.3 0.0
 

Commodity and service group

 
 

All Items

233.838 233.287 233.508 1.0 -0.1 0.1

Commodities

181.184 179.664 179.438 -1.9 -1.0 -0.1

Commodities less food and beverages

150.599 148.457 148.000 -3.0 -1.7 -0.3

Nondurables less food and beverages

193.226 188.921 188.047 -3.7 -2.7 -0.5

Nondurables less food, beverages, and apparel

229.431 224.049 223.117 -5.1 -2.8 -0.4

Durables

110.427 109.986 109.861 -1.7 -0.5 -0.1

Services

286.884 287.262 287.919 2.8 0.4 0.2

Rent of shelter (2)

264.687 264.924 265.498 2.7 0.3 0.2

Transportation services

329.461 327.766 326.442 5.0 -0.9 -0.4

Other services

340.398 339.955 340.084 2.1 -0.1 0.0
 

Special aggregate indexes

 
 

All items less medical care

222.600 221.907 221.849 0.6 -0.3 0.0

All items less food

231.638 230.973 231.163 1.2 -0.2 0.1

All items less shelter

225.537 224.664 224.750 0.2 -0.3 0.0

Commodities less food

153.016 150.901 150.439 -2.8 -1.7 -0.3

Nondurables

217.958 215.780 215.499 -1.9 -1.1 -0.1

Nondurables less food

195.002 190.894 190.034 -3.4 -2.5 -0.5

Nondurables less food and apparel

228.247 223.272 222.369 -4.6 -2.6 -0.4

Services less rent of shelter (2)

323.781 324.352 325.132 2.8 0.4 0.2

Services less medical care services

270.445 270.664 270.966 2.5 0.2 0.1

Energy

188.961 184.712 182.890 -8.2 -3.2 -1.0

All items less energy

239.631 239.485 239.933 1.9 0.1 0.2

All items less food and energy

238.812 238.607 239.059 2.2 0.1 0.2

Commodities less food and energy commodities

148.172 147.465 147.557 -0.2 -0.4 0.1

Energy commodities

201.122 188.721 184.244 -14.8 -8.4 -2.4

Services less energy services

297.102 297.249 297.941 3.1 0.3 0.2

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: Friday, September 16, 2016