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14-466-PHI

Tuesday, March 18, 2014

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Consumer Price Index, Northeast Region – February 2014

Regional Prices Inch Up 0.1 Percent Over the Month; Up 1.0 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Northeast region inched up 0.1 percent in February, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that increases in the all items less food and energy index and the food index (0.2 percent each) were nearly offset by a decrease in the energy index (-0.8 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 1.0 percent, due mostly to a 1.4-percent advance in the all items less food and energy index. (See chart 1 and table A.) The food index also rose since February 2013, up 0.8 percent, while the energy index declined 1.3 percent. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Northeast region, February 2011 to February 2014 (not seasonally adjusted)

Food

Over the month, the food index increased 0.2 percent. Prices were higher for both components of the food index—food away from home prices edged up 0.3 percent and those for food at home advanced 0.1 percent.

Over the year, the food index rose 0.8 percent. Prices for the food away from home component rose 2.1 percent, while those for food at home inched down 0.1 percent since February 2013.

Energy

The energy index, which includes prices for household and transportation fuels, decreased 0.8 percent over the month, due to a decline in electricity prices. Following three consecutive months of increases totaling 11.8 percent, electricity prices fell 4.9 percent in February. Moderating the overall decline in the energy index were higher prices for gasoline (0.2 percent) and utility (piped) gas (0.5 percent).

The energy index declined 1.3 percent over the year, due to a 6.1-percent drop in gasoline prices. In contrast, both electricity prices and utility (piped) gas prices rose since February 2013, up 5.2 and 1.1 percent, respectively.

All items less food and energy

The index for all items less food and energy edged up 0.2 percent over the month, led by a 2.1-percent seasonal rise in apparel prices. Medical care and shelter prices also increased, up 0.5 and 0.1 percent, respectively, since January. These increases were moderated by lower prices for household furnishings and operations (-0.5 percent) and education and communication (-0.2 percent), among others, in February.

The all items less food and energy index rose 1.4 percent over the year. The advance mainly reflected higher prices for shelter (2.6 percent), particularly those for owners’ equivalent rent of residences (2.7 percent), since February 2013. Price increases were widespread among other components, including medical care (1.3 percent) and education and communication (0.8 percent). Moderating the 12-month rise in the all items less food and energy index were lower prices for household furnishings and operations (-2.5 percent) and apparel (-0.8 percent).

The March 2014 Consumer Price Index for the Northeast region is scheduled to be released on April 15, 2014, 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 2009 2010 2011 2012 2013 2014
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

0.2 0.5 0.4 3.0 0.4 1.6 0.4 2.9 0.3 1.8 0.6 1.5

February

0.6 0.7 0.0 2.5 0.5 2.0 0.4 2.8 0.6 2.0 0.1 1.0

March

0.2 0.2 0.3 2.6 0.8 2.5 0.5 2.5 0.0 1.5    

April

0.2 -0.1 0.2 2.5 0.5 2.8 0.3 2.3 -0.1 1.1    

May

0.1 -0.8 0.2 2.6 0.5 3.2 -0.1 1.7 0.0 1.2    

June

0.8 -1.2 -0.1 1.7 0.1 3.4 -0.2 1.5 0.1 1.5    

July

0.1 -1.9 0.0 1.6 0.2 3.6 -0.1 1.1 0.2 1.8    

August

0.3 -1.2 0.1 1.4 0.3 3.8 0.5 1.3 0.2 1.5    

September

0.1 -0.7 -0.1 1.2 0.1 4.0 0.5 1.7 0.1 1.1    

October

0.0 0.2 0.3 1.5 -0.1 3.6 0.1 1.9 -0.4 0.7    

November

0.2 2.0 0.2 1.5 -0.1 3.2 0.2 1.8 0.1 1.0    

December

-0.1 2.8 0.0 1.6 -0.3 2.9 -0.3 1.8 0.0 1.3    

 

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
Dec.
2013
Jan.
2014
Feb.
2014
Feb.
2013
Dec.
2013
Jan.
2014

All items

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249.567 251.045 251.233 1.0 0.7 0.1

All items (December 1977 = 100)

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392.991 395.319 395.615      
 

Food and beverages

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243.215 244.204 244.652 0.8 0.6 0.2

Food

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242.955 244.046 244.436 0.8 0.6 0.2

Food at home

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240.331 241.790 241.934 -0.1 0.7 0.1

Food away from home

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249.877 250.436 251.194 2.1 0.5 0.3

Alcoholic beverages

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245.399 245.060 246.265 0.8 0.4 0.5
 

Housing

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258.172 261.042 260.608 2.3 0.9 -0.2

Shelter

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312.512 313.633 313.922 2.6 0.5 0.1

Rent of primary residence (1)

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312.489 313.545 313.335 2.6 0.3 -0.1

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

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325.027 326.000 326.226 2.7 0.4 0.1

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

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324.940 325.893 326.111 2.7 0.4 0.1

Fuels and utilities

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222.413 236.254 232.733 3.8 4.6 -1.5

Household energy

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201.085 215.826 211.753 3.8 5.3 -1.9

Energy services (1)

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188.736 204.013 197.090 3.9 4.4 -3.4

Electricity (1)

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190.990 207.768 197.674 5.2 3.5 -4.9

Utility (piped) gas service (1)

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172.685 183.580 184.464 1.1 6.8 0.5

Household furnishings and operations

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124.767 125.830 125.142 -2.5 0.3 -0.5
 

Apparel

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126.585 125.842 128.433 -0.8 1.5 2.1
 

Transportation

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216.275 215.918 216.430 -1.3 0.1 0.2

Private transportation

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208.457 208.796 209.215 -1.4 0.4 0.2

New and used motor vehicles (3)

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98.291 98.138 98.270 -0.9 0.0 0.1

New vehicles

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144.129 144.426 144.676 -0.1 0.4 0.2

New cars and trucks (3) (4)

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99.844 100.042 100.215 -0.1 0.4 0.2

New cars (4)

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138.405 138.758 138.882 -1.1 0.3 0.1

Used cars and trucks

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154.877 154.185 154.592 -0.9 -0.2 0.3

Motor fuel

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291.055 292.580 293.517 -6.0 0.8 0.3

Gasoline (all types)

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289.736 291.209 291.934 -6.1 0.8 0.2

Gasoline, unleaded regular (4)

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290.344 291.705 292.420 -6.4 0.7 0.2

Gasoline, unleaded midgrade (4) (5)

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296.483 298.309 299.148 -5.5 0.9 0.3

Gasoline, unleaded premium (4)

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282.923 284.593 285.188 -5.2 0.8 0.2
 

Medical care

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446.921 448.007 450.452 1.3 0.8 0.5

Medical care commodities

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358.465 361.546 364.767 0.0 1.8 0.9

Medical care services

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471.616 471.997 474.143 1.7 0.5 0.5

Professional services

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351.103 350.350 351.136 1.1 0.0 0.2
 

Recreation (3)

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119.863 121.276 121.200 0.2 1.1 -0.1
 

Education and communication (3)

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137.821 137.757 137.497 0.8 -0.2 -0.2
 

Other goods and services

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434.273 436.928 436.754 1.3 0.6 0.0
 

Commodity and service group

 

Commodities

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192.581 193.443 194.274 -0.8 0.9 0.4

Commodities less food and beverages

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162.891 163.663 164.625 -1.9 1.1 0.6

Nondurables less food and beverages

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211.000 212.218 214.214 -1.9 1.5 0.9

Durables

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108.963 109.290 109.279 -1.7 0.3 0.0

Services

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305.367 307.429 307.037 2.2 0.5 -0.1
 

Special aggregate indexes

 

All items less shelter

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228.427 230.056 230.207 0.3 0.8 0.1

All items less medical care

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240.851 242.342 242.436 1.0 0.7 0.0

Commodities less food

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166.039 166.781 167.753 -1.8 1.0 0.6

Nondurables

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227.985 229.104 230.383 -0.6 1.1 0.6

Nondurables less food

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212.935 214.058 216.005 -1.8 1.4 0.9

Services less rent of shelter (2)

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308.516 311.674 310.514 1.7 0.6 -0.4

Services less medical care services

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293.800 295.953 295.410 2.2 0.5 -0.2

Energy

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238.786 248.034 246.045 -1.3 3.0 -0.8

All items less energy

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253.104 253.792 254.207 1.3 0.4 0.2

All items less food and energy

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256.548 257.168 257.591 1.4 0.4 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) 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: March 19, 2014