| Skip Navigation Links | ||
 |
 |
 |
Energy costs in the Cleveland-Akron area increased 0.5 percent in February, according to a report released today by the U.S. Department of Labor’s Bureau of Labor Statistics. Over the past 12 months, energy costs were up 19.3 percent. In the previous annual period, February 2006-07, energy costs declined 9.4 percent. The cost of grocery foods (food at home index) decreased 1.2 percent from January and stood 3.3 percent higher compared with a year ago. In the previous annual period, February 2006-2007, grocery food prices increased 2.5 percent. The February increase in energy costs was attributed to a 0.7 percent rise in the gasoline index, commented Regional Commissioner Jay A. Mousa. A 0.3 percent increase in the utility (piped) gas service index also contributed, but to a lesser extent. The electricity index, another subcategory of the energy index, was essentially unchanged in February (-0.1 percent). The 19.3 percent annual increase in energy costs was mostly attributed to a 29.8 percent over-the-year increase in prices at the gasoline pumps. Utility (piped) gas service costs rose 17.4 percent over the past 12 months and costs for electricity were 0.8 percent higher compared to last February.
### Scheduled release date for the March 2008 CPI:
The all items CPI-U and CPI-W for the U.S. City Average, and the Cleveland area are available to the public 24 hours a day, 7 days a week through the Bureau's CPI Hotline service. This recorded message also provides percent changes from the prior period and from a year earlier, as well as the scheduled release date for the next CPI issuance. The Hotline number in Cleveland is (216) 522-3852.
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 87 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 32 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. Prices are collected in 87 urban areas across the country from about 50,000 housing units and approximately 23,000 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. Prices of food, fuels, and a few other items are obtained every month in all 87 locations. Prices of most other commodities and services are collected every month in the three largest geographic areas and every other month in other areas. Prices of most goods and services are obtained by personal visits of the Bureau's trained representatives. 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. Separate indexes are also published by size of city, by region of the country, for cross-classifications of regions and population-size classes, and for 27 local areas. Area indexes do not measure differences in the level of prices among cities; they only measure the average change in prices for each area since the base period. 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.
Last Modified Date: March 14, 2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Back to Top |
www.dol.gov |
|
Frequently Asked Questions |
Freedom of Information Act |
Customer Survey |
Important Web Site Notices
Privacy & Security Statement | Linking and Copyright Information | Technical (web) question | Other comments  Sorry for the interruption.Please help us improve our website by participating in the survey that begins below! Our Pledge of Privacy
Click on the yes button below to take the survey after you have finished visiting our website. The survey will be available in the taskbar at the bottom of your screen when you are ready to take it. 
|
|