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12-2473-PHI

Friday, December 14, 2012

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Consumer Price Index, Northeast Region – November 2012

Regional Prices Down 0.2 Percent Over the Month; Up 1.8 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast region edged down 0.2 percent in November, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that one-month decreases in the energy index (-1.5 percent) and the all items less food and energy index (-0.1 percent) were partially offset by an increase in the food index (0.2 percent). (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 CPI-U increased 1.8 percent, due largely to an identical advance in the all items less food and energy index. (See chart 1 and table A.) The indexes for food and energy also rose since November 2011, up 2.1 and 2.0 percent, respectively. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, November 2009 to November 2012 (not seasonally adjusted)


Food

The food index posted its fifth consecutive over-the-month increase, edging up 0.2 percent in November. Prices rose for food at home and food away from home, up 0.3 and 0.1 percent, respectively.

Over the year, the food index advanced 2.1 percent. Both components of the food index had price increases since November 2011—prices for food at home rose 1.9 percent and those for food away from home, 2.6 percent.

Energy

The energy index, which includes prices for household and transportation fuels, fell 1.5 percent over the month. The recent one-month decline was due to a 4.4-percent decrease in gasoline prices. Moderating the overall decline in the energy index were higher utility (piped) gas service prices, up 7.1 percent—the largest one-month advance since November 2009. Electricity prices also rose since October, up 0.4 percent.

Energy prices increased 2.0 percent since November 2011, reflecting a 7.3-percent advance in gasoline prices. Partially offsetting the rise in gasoline prices were the 13th consecutive over-the-year decrease in electricity prices and the 25th in utility (piped) gas service prices, down 3.2 and 6.1 percent, respectively.

All items less food and energy

The index for all items less food and energy inched down 0.1 percent since October, due largely to a seasonal decline in apparel prices, down 1.2 percent. Lower prices for medical care (-0.4 percent) and education and communication (-0.3 percent), among others, also contributed to the recent decline. Higher prices for recreation (0.1 percent) helped to moderate the one-month decrease in the all items less food and energy index.

The index for all items less food and energy rose 1.8 percent over the year. The 12-month advance was led by higher shelter prices (2.1 percent), particularly those for owners’ equivalent rent of residences (2.0 percent). Widespread price increases among other components, including medical care (3.2 percent), also contributed to the rise in the all items less food and energy index since November 2011. In contrast, prices for new and used motor vehicles recorded their fifth straight over-the-year decline, down 1.0 percent since last November.

The December 2012 Consumer Price Index for the Northeast region is scheduled to be released on January 16, 2013, at 8:30 a.m. (ET).

Table A. Northeast region CPI-U 1-month and 12-month percent changes, all items index (not seasonally adjusted)
Month 2007 2008 2009 2010 2011 2012
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.3 2.3 0.4 3.9 0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9

February

0.4 2.4 0.4 4.0 0.6 0.7 0.0 2.5 0.5 2.0 0.4 2.8

March

0.8 2.6 0.8 3.9 0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5

April

0.5 2.2 0.5 3.9 0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3

May

0.5 2.3 0.9 4.3 0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7

June

0.4 2.3 1.1 5.0 0.8 -1.2 -0.1 1.7 0.1 3.4 -0.2 1.5

July

0.2 2.0 0.8 5.7 0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1

August

-0.2 1.6 -0.3 5.5 0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3

September

-0.1 2.4 -0.4 5.2 0.1 -0.7 -0.1 1.2 0.1 4.0 0.5 1.7

October

0.2 3.1 -0.9 4.0 0.0 0.2 0.3 1.5 -0.1 3.6 0.1 1.9

November

0.6 4.0 -1.6 1.7 0.2 2.0 0.2 1.5 -0.1 3.2 0.2 1.8

December

0.0 3.8 -0.9 0.7 -0.1 2.8 0.0 1.6 -0.3 2.9    

 

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 Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service:  1-800-877-8339.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Northeast Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure category Indexes Percent change from
Historical
data
Sep.
2012
Oct.
2012
Nov.
2012
Nov.
2011
Sep.
2012
Oct.
2012

All items

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247.409 247.564 247.097 1.8 -0.1 -0.2

All items (December 1977 = 100)

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389.593 389.837 389.102      
 

Food and beverages

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240.621 241.130 241.471 2.1 0.4 0.1

Food

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240.456 240.928 241.348 2.1 0.4 0.2

Food at home

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239.214 239.749 240.353 1.9 0.5 0.3

Food away from home

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245.310 245.695 245.850 2.6 0.2 0.1

Alcoholic beverages

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241.443 242.479 241.671 1.9 0.1 -0.3
 

Housing

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252.626 252.608 253.107 1.5 0.2 0.2

Shelter

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304.119 304.658 304.677 2.1 0.2 0.0

Rent of primary residence (1)

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302.463 303.026 303.148 2.3 0.2 0.0

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

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315.718 316.313 316.662 2.0 0.3 0.1

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

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315.612 316.212 316.559 2.0 0.3 0.1

Fuels and utilities

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217.829 215.552 218.862 -2.0 0.5 1.5

Household energy

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197.244 194.751 198.327 -3.0 0.5 1.8

Energy services (1)

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184.493 180.788 185.133 -4.1 0.3 2.4

Electricity (1)

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189.012 182.090 182.728 -3.2 -3.3 0.4

Utility (piped) gas service (1)

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163.986 167.197 178.991 -6.1 9.2 7.1

Household furnishings and operations

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128.248 128.047 128.044 1.3 -0.2 0.0
 

Apparel

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134.271 133.745 132.110 0.7 -1.6 -1.2
 

Transportation

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219.435 219.488 216.923 2.7 -1.1 -1.2

Private transportation

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213.351 213.207 210.087 2.8 -1.5 -1.5

New and used motor vehicles (3)

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98.806 98.615 98.381 -1.0 -0.4 -0.2

New vehicles

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141.999 142.700 143.698 1.1 1.2 0.7

New cars and trucks (3) (4)

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98.416 98.885 99.580 1.1 1.2 0.7

New cars (4)

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137.791 138.461 139.699 0.8 1.4 0.9

Used cars and trucks

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160.495 157.541 155.078 -2.5 -3.4 -1.6

Motor fuel

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324.678 322.497 308.659 7.2 -4.9 -4.3

Gasoline (all types)

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323.652 321.423 307.372 7.3 -5.0 -4.4

Gasoline, unleaded regular (4)

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325.269 323.035 308.476 7.2 -5.2 -4.5

Gasoline, unleaded midgrade (4) (5)

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329.733 327.265 313.995 7.4 -4.8 -4.1

Gasoline, unleaded premium (4)

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311.765 309.842 298.012 7.6 -4.4 -3.8
 

Medical care

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440.739 442.157 440.321 3.2 -0.1 -0.4

Medical care commodities

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373.556 373.478 365.054 1.8 -2.3 -2.3

Medical care services

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456.846 458.843 459.764 3.7 0.6 0.2

Professional services

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342.610 343.244 342.947 1.3 0.1 -0.1
 

Recreation (3)

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119.649 119.593 119.708 1.4 0.0 0.1
 

Education and communication (3)

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136.129 136.374 135.974 1.2 -0.1 -0.3
 

Other goods and services

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428.374 430.038 428.698 1.5 0.1 -0.3
 

Commodity and service group

 

Commodities

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196.800 196.680 195.129 1.8 -0.8 -0.8

Commodities less food and beverages

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169.922 169.533 167.214 1.6 -1.6 -1.4

Nondurables less food and beverages

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222.860 222.296 217.899 2.6 -2.2 -2.0

Durables

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110.997 110.794 110.596 -0.2 -0.4 -0.2

Services

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297.158 297.574 298.130 1.9 0.3 0.2
 

Special aggregate indexes

 

All items less shelter

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228.556 228.571 227.920 1.7 -0.3 -0.3

All items less medical care

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238.856 238.962 238.549 1.7 -0.1 -0.2

Commodities less food

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172.806 172.453 170.164 1.6 -1.5 -1.3

Nondurables

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233.177 233.110 230.895 2.3 -1.0 -1.0

Nondurables less food

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223.963 223.484 219.274 2.5 -2.1 -1.9

Services less rent of shelter (2)

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300.122 300.446 301.654 1.6 0.5 0.4

Services less medical care services

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286.015 286.342 286.874 1.7 0.3 0.2

Energy

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250.391 248.020 244.421 2.0 -2.4 -1.5

All items less energy

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249.466 249.890 249.751 1.8 0.1 -0.1

All items less food and energy

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252.673 253.091 252.844 1.8 0.1 -0.1

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) Indexes 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.

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


 

Last Modified Date: December 20, 2012