News Release Information

14–1364–NEW

Tuesday, July 22, 2014

Contacts

Technical information:
Media contact:
  • Martin Kohli (646) 264-3620

Consumer Price Index, New York-Northern New Jersey – June 2014

Area prices unchanged over the month and up 1.7 percent over the year

Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were flat in June, after rising 0.5 percent in May, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli said that prices for food, energy, and shelter were little changed over the month. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the year, the CPI-U rose 1.7 percent. (See table A. ) The all items less food and energy index also increased 1.7 percent. The 12-month percentage increase in both indexes has been 2.0 percent or less since December 2013. (See chart 1.)

Chart 1. Over-the-year percent change in CPI-U, New York-Northern New Jersey-Long Island, June 2011-June 2014

Food

The food index inched up 0.1 percent, after jumping 0.7 percent in May. Prices for away-from-home food edged up 0.2 percent, and higher prices for groceries, including breakfast cereal, tomatoes, and potatoes, helped pull up the at-home food index 0.1 percent.

From June 2013 to June 2014, the food index rose 1.4 percent. (See table 1.) Prices for food at home increased 1.6 percent, and prices for food away from home rose 1.2 percent.

Energy

The energy index recorded a rise of 0.2 percent, following a 2.0-percent advance in May. Gasoline prices rose 0.4 percent, and household energy prices were unchanged in June. Within household energy, a 2.7-percent increase in electricity prices, often up in June with the imposition of seasonal surcharges, was largely offset by lower fuel oil prices and by a 5.6-percent drop in natural gas charges.

Over the year, energy prices increased 2.8 percent. Prices for gasoline and for electricity each rose 3.6 percent, while natural gas prices fell 4.7 percent.

All items less food and energy

The index for all items less food and energy was unchanged, after posting a 0.3-percent increase in May. Shelter prices were flat over the month; a decline in out-of-town lodging offset increases of 0.2 percent for owners’ equivalent rent and 0.1 percent for residential rent. Among the expenditure categories registering price increases were household furnishings and operations (0.7 percent, partly attributable to higher prices for paper products), recreation (0.3 percent), and medical care (0.2 percent). These increases were offset by a 1.9-percent decrease in apparel, reflecting seasonal price reductions.

For the year ended June 2014, the index for all items less food and energy advanced 1.7 percent. Shelter prices increased 3.0 percent—owners’ equivalent rent rose 3.2 percent and residential rent, 3.0 percent. Medical care prices increased 2.8 percent, and other goods and services advanced 1.5 percent. In contrast, prices fell for apparel (-2.0 percent) and for household furnishings and operations (-2.4 percent).

Table A. New York-Northern New Jersey CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual

January

0.2 1.5 0.2 2.4 0.3 1.5 0.4 2.8 0.5 2.2 0.9 1.9

February

0.5 1.6 0.0 1.8 0.5 2.1 0.4 2.6 0.6 2.4 -0.2 1.1

March

0.2 0.8 0.5 2.1 0.7 2.3 0.6 2.6 0.1 1.9 0.4 1.3

April

0.2 0.8 0.2 2.1 0.4 2.5 0.4 2.4 -0.2 1.4 0.0 1.6

May

0.2 -0.1 0.2 2.2 0.6 2.9 0.1 1.8 0.1 1.4 0.5 1.9

June

0.5 -0.6 -0.1 1.5 0.2 3.2 -0.1 1.6 0.3 1.8 0.0 1.7

July

0.2 -1.1 0.1 1.5 0.3 3.3 -0.2 1.1 0.2 2.1    

August

0.3 -0.9 0.2 1.4 0.4 3.5 0.6 1.4 0.1 1.7    

September

0.1 -0.6 0.0 1.2 0.2 3.8 0.4 1.6 0.3 1.6    

October

-0.1 0.0 0.2 1.5 -0.2 3.3 -0.1 1.7 -0.6 1.1    

November

0.2 1.8 0.0 1.3 -0.3 3.0 0.0 2.0 0.1 1.2    

December

-0.1 2.3 0.0 1.4 -0.4 2.7 -0.3 2.1 0.0 1.5    

CPI-W

In June, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 257.147, virtually unchanged over the month. The CPI-W increased 1.7 percent over the year.

The July 2014 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released on Tuesday, August 19, 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 88 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 29 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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

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, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and Group Indexes Percent change from-
April
2014
May
2014
June
2014
June
2013
April
2014
May
2014
 

Expenditure category

 
 

All items

259.985 261.225 261.350 1.7 0.5 0.0

All items (1967=100)

751.579 755.164 755.527      
 

Food and beverages

248.638 250.316 250.529 1.3 0.8 0.1

Food

248.546 250.182 250.540 1.4 0.8 0.1

Food at home

248.529 251.280 251.449 1.6 1.2 0.1

Food away from home

255.141 255.279 255.908 1.2 0.3 0.2

Alcoholic beverages

245.717 247.997 246.006 -0.5 0.1 -0.8
 

Housing

275.770 277.037 277.240 2.5 0.5 0.1

Shelter

339.551 340.876 340.982 3.0 0.4 0.0

Rent of primary residence (1)

346.679 347.910 348.329 3.0 0.5 0.1

Owners' equivalent rent of residences (1) (2)

346.374 347.099 347.803 3.2 0.4 0.2

Owners' equivalent rent of primary residence (1) (2)

346.149 346.870 347.563 3.2 0.4 0.2

Fuels and utilities

204.400 208.303 208.320 2.1 1.9 0.0

Household energy

200.351 204.676 204.662 2.0 2.2 0.0

Energy services (1)

183.280 188.695 189.149 1.1 3.2 0.2

Electricity (1)

185.615 194.583 199.893 3.6 7.7 2.7

Utility (piped) gas service (1)

173.435 171.402 161.867 -4.7 -6.7 -5.6

Household furnishings and operations

118.280 117.297 118.076 -2.4 -0.2 0.7
 

Apparel

126.217 125.435 123.067 -2.0 -2.5 -1.9
 

Transportation

233.008 235.298 235.944 1.7 1.3 0.3

Private transportation

220.213 221.541 221.243 1.6 0.5 -0.1

Motor fuel

289.484 294.611 295.662 3.7 2.1 0.4

Gasoline (all types)

288.162 293.304 294.361 3.6 2.2 0.4

Gasoline, unleaded regular (3)

291.023 295.931 297.203 3.8 2.1 0.4

Gasoline, unleaded midgrade (3) (4)

289.082 295.119 295.491 3.2 2.2 0.1

Gasoline, unleaded premium (3)

284.006 289.737 290.257 2.9 2.2 0.2
 

Medical care

433.955 437.850 438.738 2.8 1.1 0.2
 

Recreation (5)

118.973 119.249 119.664 0.2 0.6 0.3
 

Education and communication (5)

140.651 140.548 140.700 0.5 0.0 0.1
 

Other goods and services

399.788 398.955 398.378 1.5 -0.4 -0.1
 

Commodity and service group

 
 

All items

259.985 261.225 261.350 1.7 0.5 0.0

Commodities

194.876 195.316 195.136 0.5 0.1 -0.1

Commodities less food and beverages

159.262 159.085 158.725 -0.1 -0.3 -0.2

Nondurables less food and beverages

204.862 204.556 203.778 0.7 -0.5 -0.4

Durables

101.713 101.682 101.780 -1.7 0.1 0.1

Services

315.859 317.753 318.122 2.4 0.7 0.1
 

Special aggregate indexes

 
 

All items less medical care

252.335 253.469 253.565 1.7 0.5 0.0

All items less shelter

228.925 230.142 230.277 1.0 0.6 0.1

Commodities less food

162.876 162.769 162.359 -0.1 -0.3 -0.3

Nondurables

229.166 229.816 229.506 1.0 0.1 -0.1

Nondurables less food

207.722 207.553 206.708 0.6 -0.5 -0.4

Services less rent of shelter (2)

300.924 303.550 304.227 1.7 1.1 0.2

Services less medical care services

306.354 308.018 308.427 2.4 0.7 0.1

Energy

237.186 241.877 242.270 2.8 2.1 0.2

All items less energy

264.068 264.988 265.088 1.6 0.4 0.0

All items less food and energy

268.583 269.379 269.435 1.7 0.3 0.0

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

NOTE: Index applies to a month as a whole, not to any specific date.
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.

 

Last Modified Date: August 19, 2014