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14-465-PHI

Tuesday, March 18, 2014

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Consumer Price Index, South Region – February 2014

Prices in the South up 0.4 percent over the month and 1.2 percent over the year

 

The Consumer Price Index for All Urban Consumers (CPI-U) for the South rose 0.4 percent in February, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that the index for all items less food and energy increased 0.4 percent over the month, primarily due to higher prices for shelter and medical care services.  The energy index advanced 1.2 percent and the food index edged up 0.3 percent in February. (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 all items CPI-U advanced 1.2 percent. The index for all items less food and energy advanced 1.7 percent over the year. (See chart 1.)

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

Food

The food index edged up 0.3 percent in February, primarily due to a 0.5-percent increase in prices for food at home. Food away from home prices were unchanged over the month.

Since February 2013, the index for food advanced 1.6 percent. Prices for food away from home and food at home increased 2.1 and 1.3 percent, respectively.

Energy

The energy index rose 1.2 percent over the month, led by increases in electricity and motor fuel prices, up 1.3 and 0.8 percent, respectively. Utility (piped) gas service prices also advanced, up 3.7 percent in February.

Over the year, energy prices decreased 2.3 percent, primarily due to an 8.3-percent decline in motor fuel prices. In contrast, price increases were recorded for electricity (6.4 percent) and utility (piped) gas service (7.5 percent) since February 2013.

All items less food and energy

The index for all items less food and energy increased 0.4 percent in February. Among the components of the index recording price increases were shelter (0.4 percent) and medical care services (0.9 percent).

Since February 2013, the index for all items less food and energy advanced 1.7 percent, led by a 2.6-percent increase in shelter prices. Prices for medical care services also increased, up 2.4 percent over the year.

The March 2014 Consumer Price Index for the South region is scheduled to be released on April 15, 2014, at 8:30 a.m. (ET).

Table A. South 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

0.4 -0.1 0.3 2.8 0.5 1.7 0.5 3.2 0.4 1.6 0.3 1.7

February

0.5 0.1 0.0 2.3 0.5 2.2 0.6 3.3 0.9 1.8 0.4 1.2

March

0.3 -0.3 0.6 2.5 1.2 2.8 0.7 2.8 0.3 1.5    

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9    

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3    

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9    

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2    

August

0.1 -1.6 0.2 1.1 0.4 4.3 0.6 1.6 0.1 1.7    

September

0.0 -1.8 0.2 1.4 0.0 4.1 0.5 2.1 0.0 1.3    

October

0.2 -0.4 0.1 1.3 -0.2 3.7 -0.2 2.1 -0.2 1.3    

November

0.2 2.0 0.0 1.1 0.0 3.8 -0.5 1.6 -0.3 1.5    

December

-0.1 2.9 0.2 1.4 -0.2 3.3 -0.1 1.7 0.1 1.8    

 

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

South (1982-84=100 unless otherwise noted)
Item and Group

Indexes
Percent change from-
Dec.
2013
Jan.
2014
Feb.
2014
Feb.
2013
Dec.
2013
Jan.
2014

Expenditure category

 
 

All Items

227.082 227.673 228.664 1.2 0.7 0.4

All items (December 1977=100)

368.358 369.317 370.924      

Food and beverages

236.944 238.064 238.658 1.6 0.7 0.2

Food

238.001 239.105 239.782 1.6 0.7 0.3

Food at home

233.001 234.691 235.789 1.3 1.2 0.5

Food away from home

248.227 248.479 248.541 2.1 0.1 0.0

Alcoholic beverages

221.538 222.867 222.320 1.6 0.4 -0.2

Housing

212.340 213.297 214.432 2.5 1.0 0.5

Shelter

238.671 239.490 240.535 2.6 0.8 0.4

Rent of primary residence (1)

243.434 243.787 244.517 2.8 0.4 0.3

Owners' equiv. rent of residences (1) (2)

242.071 242.529 243.234 2.4 0.5 0.3

Owners' equiv. rent of primary residence (1) (2)

242.058 242.520 243.229 2.4 0.5 0.3

Fuels and utilities

221.873 224.930 228.093 5.8 2.8 1.4

Household energy

183.340 186.559 189.928 6.9 3.6 1.8

Gas (piped) and electricity (1)

182.631 185.698 188.762 6.6 3.4 1.6

Electricity (1)

180.010 183.064 185.496 6.4 3.0 1.3

Utility (piped) gas service (1)

184.567 187.460 194.378 7.5 5.3 3.7

Household furnishings and operations

122.936 122.955 123.037 -2.6 0.1 0.1

Apparel

137.721 134.492 135.088 0.3 -1.9 0.4

Transportation

214.637 214.497 215.429 -2.2 0.4 0.4

Private transportation

212.832 212.972 213.840 -2.2 0.5 0.4

New and used motor vehicles (3)

102.361 102.399 102.750 1.5 0.4 0.3

New vehicles

151.561 151.996 152.704 1.2 0.8 0.5

New cars and trucks (3) (4)

103.148 103.442 103.932 1.1 0.8 0.5

New cars (3)

153.768 154.525 155.052 0.4 0.8 0.3

Used cars and trucks

147.176 146.461 146.654 0.9 -0.4 0.1

Motor fuel

285.173 286.794 289.049 -8.3 1.4 0.8

Gasoline (all types)

283.374 285.008 287.261 -8.4 1.4 0.8

Unleaded regular (4)

280.932 282.530 284.904 -8.8 1.4 0.8

Unleaded midgrade (4) (5)

297.828 299.437 301.284 -7.8 1.2 0.6

Unleaded premium (4)

285.993 287.845 289.706 -6.7 1.3 0.6

Medical Care

407.168 410.294 413.850 2.5 1.6 0.9

Medical care commodities

321.532 322.777 325.572 2.6 1.3 0.9

Medical care services

436.509 440.390 444.208 2.4 1.8 0.9

Professional services

350.372 351.091 350.132 1.0 -0.1 -0.3

Recreation (3)

115.308 115.549 115.936 0.7 0.5 0.3

Education and communication (3)

133.480 134.025 134.031 1.4 0.4 0.0

Other goods and services

395.546 396.262 396.868 1.6 0.3 0.2
 

Commodity and Service Group

 
 

All Items

227.082 227.673 228.664 1.2 0.7 0.4

Commodities

187.962 188.123 188.780 -0.9 0.4 0.3

Commodities less food & beverages

163.294 163.068 163.731 -2.3 0.3 0.4

Nondurables less food & beverages

216.703 216.204 217.287 -2.9 0.3 0.5

Nondurables less food, beverages, and apparel

265.276 266.314 267.693 -3.7 0.9 0.5

Durables

113.263 113.272 113.563 -1.2 0.3 0.3

Services

266.999 268.012 269.334 2.7 0.9 0.5

Rent of shelter (2)

245.019 245.822 246.875 2.5 0.8 0.4

Transportation services

300.534 298.043 298.646 2.1 -0.6 0.2

Other services

321.381 322.629 323.487 2.1 0.7 0.3
 

Special aggregate indexes:

 
 

All items less medical care

216.965 217.442 218.312 1.1 0.6 0.4

All items less food

225.169 225.682 226.719 1.2 0.7 0.5

All items less shelter

223.907 224.408 225.384 0.6 0.7 0.4

Commodities less food

165.212 165.026 165.659 -2.2 0.3 0.4

Nondurables

226.829 227.081 227.940 -0.8 0.5 0.4

Nondurables less food

216.759 216.361 217.354 -2.7 0.3 0.5

Nondurables less food and apparel

260.263 261.321 262.530 -3.4 0.9 0.5

Services less rent of shelter (2)

303.021 304.330 306.035 2.9 1.0 0.6

Services less medical care services

251.653 252.474 253.620 2.7 0.8 0.5

Energy

225.900 228.328 231.123 -2.3 2.3 1.2

All items less energy

227.926 228.313 229.105 1.7 0.5 0.3

All items less food and energy

226.548 226.811 227.623 1.7 0.5 0.4

Commodities less food and energy commodities

149.304 148.817 149.161 -0.2 -0.1 0.2

Energy commodities

289.570 291.435 294.109 -7.8 1.6 0.9

Services less energy services

275.805 276.581 277.702 2.4 0.7 0.4

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

Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.


 

Last Modified Date: March 19, 2014