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14-1367-PHI

Tuesday, July 22, 2014

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Consumer Price Index, Philadelphia-Wilmington-Atlantic City –
June 2014

Area Prices Up 0.6 Percent Since April; 1.8 Percent Over the Year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Philadelphia-Wilmington-Atlantic City area increased 0.6 percent from April to June, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the recent increase was due largely to higher prices for all items less food and energy (0.6 percent). The food and energy indexes also rose since April, up 1.1 and 0.6 percent, respectively. (Data in this report are not seasonally adjusted. Accordingly, two-month changes may reflect the impact of seasonal influences.)

Over the last 12 months, the CPI-U increased 1.8 percent. (See chart 1 and table A.) The rise was led by a 1.5-percent advance in the all items less food and energy index since June 2013. Prices for food and energy also rose over the year, up 2.7 and 2.5 percent, respectively. (See table 1.)

Chart 1. 12-month percent change in CPI for All Urban Consumers (CPI-U), Philadelphia-Wilmington-Atlantic City, June 2011-June 2014 (non seasonally adjusted)

Food

Following a 0.8-percent rise from February to April, food prices increased 1.1 percent over the last two months. Food at home prices advanced 1.2 percent since April. Within the food at home component, price increases for various items including carbonated drinks and soup were moderated by price declines for others such as frozen fruits and vegetables and milk. Food away from home prices also rose since April, up 0.9 percent.

Over the year, the food index increased 2.7 percent. Prices for food away from home advanced 3.2 percent and those for food at home rose 2.5 percent.

Energy

Led by a 1.4-percent advance in gasoline prices over the last two months, the energy index, which includes prices for household and transportation fuels, increased 0.6 percent. Electricity prices also advanced since April, up 0.4 percent; utility (piped) gas service prices inched up 0.1 percent.

The energy index increased 2.5 percent since last June, due mainly to higher prices for gasoline (4.7 percent). Utility (piped) gas service prices advanced 1.6 percent, while those for electricity declined 1.3 percent over the year.

All items less food and energy

The index for all items less food and energy rose 0.6 percent from April to June, led by higher prices for shelter (1.4 percent), particularly for lodging away from home. Partially offsetting these and other bimonthly advances were price declines for apparel (-5.2 percent) and education and communication
(-0.3 percent).

Over the last 12 months, the index for all items less food and energy increased 1.5 percent. This was largely due to higher prices for shelter (2.3 percent), as the owners’ equivalent rent of residences component rose 2.4 percent. Price increases were widespread among other components including medical care (2.4 percent) and education and communication (1.6 percent). Moderating the over-the-year rise in the all items less food and energy index were lower prices for household furnishings and operations and apparel, down 2.8 and 1.7 percent, respectively.

The August 2014 Consumer Price Index for Philadelphia-Wilmington-Atlantic City is scheduled to be released September 17, 2014, at 8:30 a.m. (ET).

 

Table A. Philadelphia-Wilmington-Atlantic City CPI-U 2-month and 12-month percent changes, all items index (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.0 -0.3 0.8 2.8 1.3 1.9 0.7 2.2 0.7 1.8 0.5 1.0

April

0.6 -0.9 0.4 2.6 1.0 2.5 0.8 2.0 0.1 1.1 0.5 1.4

June

1.0 -2.0 0.3 1.9 0.6 2.8 -0.2 1.3 0.3 1.5 0.6 1.8

August

1.0 -1.0 0.2 1.1 0.7 3.4 0.9 1.4 0.5 1.1    

October

-0.6 -0.1 0.0 1.7 -0.3 3.0 0.4 2.2 -0.4

0.3

 

 

December

0.0 3.0 -0.2 1.4 -0.5 2.8 -0.9 1.8 0.1 1.2    

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 Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md., Consolidated Metropolitan Statistical Area (CMSA), includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.

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, Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md. (1982-84=100 unless otherwise noted)
Expenditure category Indexes Percent change from-
Apr. 2014 May 2014 June 2014 June 2013 Apr. 2014 May 2014

All items

243.694 - 245.247 1.8 0.6 -

Food and beverages

225.722 - 228.092 2.4 1.0 -

Food

225.676 - 228.173 2.7 1.1 -

Food at home

235.576 238.917 238.517 2.5 1.2 -0.2

Food away from home

206.956 - 208.875 3.2 0.9 -

Alcoholic beverages

223.802 - 224.526 -1.8 0.3 -

Housing

246.034 - 248.850 1.8 1.1 -

Shelter

298.301 301.268 302.613 2.3 1.4 0.4

Rent of primary residence (1)

278.601 279.186 279.938 2.3 0.5 0.3

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

307.256 308.280 308.370 2.4 0.4 0.0

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

307.256 308.280 308.370 2.4 0.4 0.0

Fuels and utilities

217.828 - 217.435 1.2 -0.2 -

Household energy

186.904 186.364 186.415 0.3 -0.3 0.0

Energy services (1)

191.451 190.805 191.998 -0.4 0.3 0.6

Electricity (1)

192.083 191.316 192.829 -1.3 0.4 0.8

Utility (piped) gas service (1)

183.403 183.040 183.508 1.6 0.1 0.3

Household furnishings and operations

117.800 - 118.413 -2.8 0.5 -

Apparel

115.653 - 109.606 -1.7 -5.2 -

Transportation

224.700 - 226.026 2.0 0.6 -

Private transportation

222.814 - 224.538 2.4 0.8 -

Motor fuel

320.700 325.842 325.112 4.8 1.4 -0.2

Gasoline (all types)

316.217 321.344 320.647 4.7 1.4 -0.2

Gasoline, unleaded regular (3)

315.966 321.116 320.436 4.7 1.4 -0.2

Gasoline, unleaded midgrade (3) (4)

311.216 316.058 314.572 4.8 1.1 -0.5

Gasoline, unleaded premium (3)

299.871 304.672 304.358 4.7 1.5 -0.1

Medical care

464.749 - 468.414 2.4 0.8 -

Recreation (5)

125.019 - 125.297 1.1 0.2 -

Education and communication (5)

132.055 - 131.665 1.6 -0.3 -

Other goods and services

469.600 - 473.510 2.2 0.8 -
Commodity and service group            

Commodities

185.040 - 185.133 1.3 0.1 -

Commodities less food and beverages

160.948 - 160.022 0.7 -0.6 -

Nondurables less food and beverages

205.470 - 204.382 1.6 -0.5 -

Durables

110.800 - 110.061 -1.1 -0.7 -

Services

304.387 - 307.322 2.0 1.0 -
Special aggregate indexes            

All items less medical care

234.329 - 235.796 1.7 0.6 -

All items less shelter

226.934 - 227.401 1.4 0.2 -

Commodities less food

163.309 - 162.432 0.6 -0.5 -

Nondurables

217.657 - 218.176 1.9 0.2 -

Nondurables less food

206.530 - 205.550 1.4 -0.5 -

Services less rent of shelter (2)

318.114 - 319.354 1.5 0.4 -

Services less medical care services

291.408 - 294.127 1.8 0.9 -

Energy

236.157 237.706 237.470 2.5 0.6 -0.1

All items less energy

246.366 - 247.958 1.7 0.6 -

All items less food and energy

252.458 - 253.898 1.5 0.6 -

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

 

 

 

 

Last Modified Date: July 22, 2014