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15-1629-ATL
Wednesday, August 19, 2015

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Consumer Price Index for Tampa-St. Petersburg-Clearwater – First Half 2015

Local prices up 0.3 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Tampa-St. Petersburg-Clearwater area rose 0.3 percent from the first half of 2014 to the first half of 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index was 2.0 percent higher compared to its first half 2014 level as price increases were noted for several categories, most notably shelter and medical care. Food prices advanced 3.7 percent over the year while the index for energy fell 18.2 percent. (See chart 1.)

 Chart 1. Over-the-year percent change in CPI-U, Tampa, first half 2012–first half 2015

Food

Food prices advanced 3.7 percent since the first half of 2014, led by a 4.4-percent increase in prices for food at home. Prices for food away from home were up 2.2 percent over-the-year.

Energy

The energy index experienced it’s largest over-the-year decline in the history of the index, dropping 18.2 percent from the first half of 2014 to the first half of 2015 primarily due to a 30.7 percent fall in prices for motor fuel. Prices also declined for electricity (-0.7 percent) and utility (piped) gas service (-2.3 percent) over-the-year.

All items less food and energy

The index for all items less food and energy increased 2.0 percent since the first half of 2014. Several components contributed to the increase including shelter (4.8 percent), medical care (2.2 percent), and recreation (1.7 percent).

The Consumer Price Index for August 2015 is scheduled to be released on Wednesday, September 16, 2015.


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 Tampa-St. Petersburg-Clearwater, Fla. metropolitan statistical area covered in this release is comprised of Hernando, Hillsborough, Pasco, and Pinellas 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 for semiannual averages and percent changes for selected periods
Tampa-St. Petersburg-Clearwater, FL (1987=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to 1st half 2015 from-
1st half
2014
2nd half
2014
1st half
2015
1st half
2014
2nd half
2014

Expenditure category

 
 

All Items

210.736 210.895 211.414 0.3 0.2

Food and beverages

211.074 216.457 218.420 3.5 0.9

Food

210.440 216.088 218.144 3.7 1.0

Food at home

214.643 222.219 224.187 4.4 0.9

Food away from home

204.484 206.460 209.072 2.2 1.3

Alcoholic beverages

206.829 208.083 208.584 0.8 0.2

Housing

195.497 198.052 202.433 3.5 2.2

Shelter

215.512 219.885 225.876 4.8 2.7

Rent of primary residence (1)

215.608 220.825 227.301 5.4 2.9

Owners' equiv. rent of residences (1)

226.613 231.208 237.225 4.7 2.6

Owners' equiv. rent of primary residence (1)

226.613 231.208 237.225 4.7 2.6

Fuels and utilities

211.915 212.635 211.931 0.0 -0.3

Household energy

173.911 173.942 171.886 -1.2 -1.2

Energy services (1)

170.945 171.260 169.510 -0.8 -1.0

Electricity (1)

168.162 168.299 167.041 -0.7 -0.7

Utility (piped) gas service (1)

256.827 259.493 250.972 -2.3 -3.3

Household furnishings and operations

114.164 113.710 113.824 -0.3 0.1

Apparel

162.642 163.726 163.642 0.6 -0.1

Transportation

216.400 202.976 189.782 -12.3 -6.5

Private transportation

222.260 208.428 193.633 -12.9 -7.1

Motor fuel

383.267 337.335 265.765 -30.7 -21.2

Gasoline (all types)

375.432 330.039 259.970 -30.8 -21.2

Unleaded regular (2)

371.954 325.693 254.620 -31.5 -21.8

Unleaded midgrade (2) (3)

327.122 290.048 232.570 -28.9 -19.8

Unleaded premium (2)

375.778 334.933 270.390 -28.0 -19.3

Medical Care

355.382 358.484 363.366 2.2 1.4

Recreation (4)

124.026 124.912 126.097 1.7 0.9

Education and communication (4)

138.079 139.104 139.656 1.1 0.4

Other goods and services

291.242 293.108 296.536 1.8 1.2
 

Commodity and service group

 
 

All Items

210.736 210.895 211.414 0.3 0.2

Commodities

178.461 176.915 173.268 -2.9 -2.1

Commodities less food & beverages

160.570 155.652 149.312 -7.0 -4.1

Nondurables less food & beverages

239.501 230.549 216.134 -9.8 -6.3

Durables

94.731 92.970 92.761 -2.1 -0.2

Services

239.626 241.242 245.340 2.4 1.7
 

Special aggregate indexes

 
 

All items less medical care

202.840 202.865 203.187 0.2 0.2

All items less shelter

209.674 208.252 206.130 -1.7 -1.0

Commodities less food

163.488 158.719 152.535 -6.7 -3.9

Nondurables

223.682 222.363 216.658 -3.1 -2.6

Nondurables less food

237.341 229.094 215.703 -9.1 -5.8

Services less rent of shelter

266.346 265.306 266.337 0.0 0.4

Services less medical care services

227.908 229.595 233.662 2.5 1.8

Energy

253.288 235.781 207.206 -18.2 -12.1

All items less energy

206.772 208.497 211.451 2.3 1.4

All items less food and energy

206.324 207.331 210.454 2.0 1.5

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) Special index based on a substantially smaller sample.
(3) Indexes on a December 1993=100 base.
(4) Indexes on a December 1997=100 base.
 

NOTE: Data not seasonally adjusted.
 

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Last Modified Date: Wednesday, August 19, 2015