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Wednesday, February 20, 2008
NEW YORK-NORTHERN NEW JERSEY CPI EDGES UP 0.2 PERCENT IN JANUARY,
UP 3.7 PERCENT FROM YEAR AGO
Retail prices in the greater New York area, as measured by the
Consumer Price Index for All Urban Consumers (CPI-U), edged up 0.2
percent in January following no change in December. Michael L.
Dolfman, Regional Commissioner of the U. S. Department of Labor's
Bureau of Labor Statistics, said that the January index largely
reflected higher prices for household energy and grocery store foods.
Increases for medical care and recreation also contributed to the
rise. These increases were partially offset by lower prices for
apparel and transportation. For the year ended in January 2008, the
CPI-U rose 3.7 percent. Core inflation, as measured by the all items
less food and energy index, was up 2.1 percent over the year.
The housing index increased 0.3 percent in January, primarily
reflecting higher prices for fuel and utilities. Prices for
household energy climbed 3.3 percent over the month, following a 0.7-
percent rise in December. (See chart A.) The rise was primarily due
to a 5.1-percent jump in electricity charges, as well as escalation
in residential fuel oil prices. Natural gas prices advanced 0.3
percent. Among other housing components, the shelter index was
unchanged over the month. Residential rent rose 0.4 percent and
owners' equivalent rent inched up 0.1 percent, but these increases
were counterbalanced by a decline in out-of-town lodging charges.
The index for household furnishings and operations edged down 0.2
percent over the month.
New York-Northern New Jersey CPI monthly and annual percent changes
(not seasonally adjusted)
| 2003 | 2004 | 2005 | 2006 | 2007 | 2008
Month | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann
January 0.8 3.3 0.3 2.7 0.6 4.1 0.8 3.7 0.2 2.7 0.2 3.7
February 0.8 3.3 0.6 2.5 0.4 3.9 0.2 3.6 0.6 3.1
March 0.5 3.1 1.1 3.2 1.7 4.4 0.8 2.7 0.7 2.9
April -0.2 2.6 0.3 3.7 0.0 4.2 0.9 3.6 0.5 2.5
May 0.1 2.8 0.2 3.9 -0.5 3.4 0.6 4.8 0.6 2.5
June 0.1 2.8 0.8 4.6 -0.3 2.3 0.5 5.6 0.5 2.5
July 0.4 3.0 -0.2 3.9 0.9 3.4 0.2 5.0 0.2 2.5
August 0.7 3.1 0.1 3.3 0.8 4.1 0.4 4.7 -0.1 1.9
September 0.3 3.3 0.1 3.2 0.8 4.8 -0.5 3.3 0.0 2.4
October 0.2 3.3 0.7 3.7 0.4 4.5 -0.5 2.4 0.1 3.1
November -0.3 3.1 0.0 3.9 -0.6 3.9 -0.4 2.6 0.4 3.9
December -0.1 3.2 -0.2 3.8 -0.5 3.6 0.2 3.3 0.0 3.7
The food and beverages index rose 0.6 percent. Grocery store
prices were up 1.0 percent over the month, the largest monthly
increase in a year, reflecting higher prices for fresh fish and
seafood, ice cream and related products, eggs, other fresh
vegetables, and other poultry including turkey. The food away from
home index edged up 0.2 percent. In contrast, prices for alcoholic
beverages declined 0.2 percent.
Prices for medical care advanced 1.1 percent over the month,
largely due to increased charges for hospital services and
prescription drugs. The recreation index was up 0.4 percent, with
higher prices for cable and satellite television services.
The apparel index fell 2.3 percent in January, reflecting post-
holiday sales for women's suits and separates, men's suits, sport
coats and outerware, and women's outerware. The transportation index
edged down 0.2 percent, largely due to lower airline fares. After
jumping 10.2 percent in November and 1.9 percent in December, the
price of gasoline rose just 0.3 percent. Despite slowing in January,
gasoline prices have climbed 33.0 percent over the year.
Among other components, the other goods and services index edged
up 0.2 percent. Education and communication inched up 0.1 percent.
With the New York-Northern New Jersey Consumer Price Index for All
Urban Consumers at 229.869 in January (1982-84=100), $22.99 was
required to purchase what $10 could in the 1982-84 base period. The
purchasing power of the dollar was 43.5 cents in 1982-84 dollars and
15.0 cents in 1967 dollars. In January, the Consumer Price Index for
Urban Wage Earners and Clerical Workers (CPI-W) was 224.557, up 0.3
percent over the month. The CPI-W rose 4.1 percent over the year.
On a 1967 base, the January CPI-W was 639.370.
Data in this report are not seasonally adjusted. Accordingly,
month-to-month changes may reflect the impact of seasonal influences.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA
consolidated area comprises the five boroughs of New York City,
Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange
Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer,
Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union
and Warren Counties in New Jersey; Fairfield County and parts of
Litchfield, New Haven and Middlesex Counties in Connecticut; and Pike
County in Pennsylvania.
NYLS - 7317 Labor - New York
02/19/08
Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods
New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)
Indexes Percent change from-
Item and Group
Nov. Dec. Jan. Jan. Nov. Dec.
2007 2007 2008 2007 2007 2007
Expenditure category
All items........... 229.504 229.395 229.869 3.7 0.2 0.2
All items (1967=100) 663.464 663.150 664.520 - - -
Food and beverages 214.436 214.980 216.257 4.3 .8 .6
Food.............. 213.636 214.058 215.453 4.4 .9 .7
Food at home..... 211.758 212.435 214.574 4.6 1.3 1.0
Food away from
home......... 221.627 221.743 222.274 4.2 .3 .2
Alcoholic
beverages..... 222.585 224.702 224.177 3.7 .7 -.2
Housing............ 247.906 247.786 248.563 3.0 .3 .3
Shelter........... 298.507 298.163 298.233 2.8 -.1 .0
Rent of primary
residence 1/ 286.418 287.618 288.886 4.2 .9 .4
Owners'
equivalent
rent of
primary
residence 1/
2/ ......... 305.934 306.658 306.943 2.9 .3 .1
Fuels and
utilities..... 191.342 192.700 198.529 10.9 3.8 3.0
Household energy 193.159 194.516 200.992 11.4 4.1 3.3
Gas (piped) and
electricity
1/......... 184.467 185.232 191.337 6.1 3.7 3.3
Electricity (1) 162.462 164.300 172.635 8.9 6.3 5.1
Utility (piped)
gas service
1/........ 227.677 226.303 226.969 1.7 -.3 .3
Household
furnishings
and operations 127.888 127.440 127.203 -4.2 -.5 -.2
Apparel............ 110.772 107.346 104.895 -.5 -5.3 -2.3
Transportation..... 196.120 196.916 196.532 7.7 .2 -.2
Private
transportation 186.832 187.630 187.682 8.6 0.5 0.0
Motor fuel....... 234.814 239.185 239.795 33.0 2.1 .3
Gasoline (all
types)...... 233.888 238.237 238.853 33.0 2.1 .3
Gasoline,
unleaded
regular 3/ 236.892 241.355 241.606 33.5 2.0 .1
Gasoline,
unleaded
midgrade
3/ 4/.... 233.634 237.900 239.142 32.8 2.4 .5
Gasoline,
unleaded
premium 3/ 230.321 234.366 235.776 31.1 2.4 .6
Medical care....... 363.174 363.978 368.031 5.0 1.3 1.1
Recreation 5/..... 113.803 113.346 113.854 -.1 .0 .4
Education and
communication
5/............ 127.274 127.393 127.531 3.7 .2 .1
Other goods and
services....... 338.981 340.127 340.952 2.0 .6 .2
Commodity and service group
All items........... 229.504 229.395 229.869 3.7 .2 .2
Commodities........ 175.430 175.296 175.430 4.7 .0 .1
Commodities less
food and
beverages..... 147.973 147.478 147.054 5.0 -.6 -.3
Nondurables less
food and
beverages.... 177.919 177.513 176.863 10.0 -.6 -.4
Durables......... 108.668 108.097 107.944 -2.9 -.7 -.1
Services........... 275.828 275.742 276.502 3.1 0.2 0.3
Special aggregate indexes
All items less
medical care.... 223.454 223.320 223.675 3.6 .1 .2
All items less
shelter......... 202.488 202.478 203.135 4.2 .3 .3
Commodities less
food............ 151.139 150.741 150.311 4.9 -.5 -.3
Nondurables......... 198.208 198.282 198.545 6.7 .2 .1
Nondurables less
food............ 180.867 180.633 179.987 9.4 -.5 -.4
Services less rent
of shelter 2/ 260.155 260.397 262.046 3.6 .7 .6
Services less
medical care
services........ 268.523 268.376 269.000 3.0 .2 .2
Energy.............. 211.307 213.865 217.924 19.8 3.1 1.9
All items less
energy.......... 232.871 232.507 232.633 2.4 -.1 .1
All items less food
and energy..... 237.875 237.345 237.232 2.1 -.3 .0
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/ Special index based on a substantially smaller sample.
4/ Indexes on a December 1993=100 base.
5/ Indexes on a December 1997=100 base.
- Data not available.
Last Modified Date: March 14, 2008
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