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14-1457-DAL

Tuesday, August 19, 2014

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Consumer Price Index, South Region – July 2014

Prices in the South down 0.1 percent over the month; up 2.0 percent over the year


The Consumer Price Index for All Urban Consumers (CPI-U) for the South inched down 0.1 percent in July, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that the energy index declined 0.6 percent over the month. The all items less food and energy index also inched down 0.1 percent in July as decreases in apparel and recreation were largely offset by increases in several indexes, particularly the shelter index. The food index was unchanged over the month. (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 2.0 percent. The index for all items less food and energy rose 1.9 percent over the year. (See chart 1.)

Chart 1. Over-the-year percent change in CPI for All Urban Consumers (CPI-U), South region, July 2011–July 2014


Food

The food index was unchanged in July. Prices for food away from home edged up 0.2 percent, while food at home prices inched down 0.1 percent.

Since July 2013, the index for food advanced 2.4 percent, reflecting higher prices for both food at home (2.5 percent) and food away from home (2.3 percent).

Energy

The energy index declined 0.6 percent over the month, led by a 1.2-percent drop in motor fuel prices. Prices for utility (piped) gas service decreased 0.5 percent, while electricity prices edged up 0.3 percent.

Over the year, energy prices advanced 2.3 percent, as price increases were recorded for electricity (3.9 percent), motor fuel (1.1 percent), and utility (piped) gas service (4.1 percent).

All items less food and energy

The all items less food and energy index inched down 0.1 percent in July as apparel prices registered a 2.2-percent seasonal decrease and recreation prices declined 0.6 percent. These declines were largely offset by increases in several categories, including shelter (0.3 percent), education and communication (0.2 percent), and medical care (0.1 percent).

Since July 2013, the all items less food and energy index advanced 1.9 percent, led by price increases for shelter (3.2 percent) and medical care (2.7 percent).


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 0.6 1.5

April

0.3 -0.7 0.1 2.4 0.7 3.4 0.4 2.5 -0.2 0.9 0.5 2.3

May

0.3 -1.3 0.0 2.0 0.5 4.0 -0.4 1.6 0.0 1.3 0.2 2.4

June

1.0 -1.4 -0.1 0.9 -0.2 3.8 -0.2 1.7 0.4 1.9 0.2 2.3

July

-0.3 -2.1 -0.1 1.0 0.2 4.1 -0.2 1.4 0.2 2.2 -0.1 2.0

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 - -
_______________________
The August 2014 Consumer Price Index for the South region is scheduled to be released on Wednesday, September 17, 2014 at 7:30 a.m. (CT).





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 the 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/pdf/homch17.pdf.

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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

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

Indexes
Percent change from-
May
2014
Jun.
2014
Jul.
2014
Jul.
2013
May
2014
Jun.
2014

Expenditure category

 
 

All Items

231.762 232.269 232.013 2.0 0.1 -0.1

All items (December 1977=100)

375.951 376.772 376.357      

Food and beverages

241.086 241.278 241.320 2.3 0.1 0.0

Food

242.371 242.549 242.637 2.4 0.1 0.0

Food at home

238.663 238.549 238.328 2.5 -0.1 -0.1

Food away from home

250.741 251.352 251.896 2.3 0.5 0.2

Alcoholic beverages

222.513 222.903 222.315 0.6 -0.1 -0.3

Housing

216.321 217.915 218.435 2.6 1.0 0.2

Shelter

242.698 243.291 243.994 3.2 0.5 0.3

Rent of primary residence (1)

247.082 247.610 248.352 3.4 0.5 0.3

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

245.111 245.575 246.161 2.8 0.4 0.2

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

245.114 245.576 246.160 2.8 0.4 0.2

Fuels and utilities

231.403 240.756 241.330 3.7 4.3 0.2

Household energy

193.146 203.157 203.523 4.0 5.4 0.2

Energy services (1)

192.698 202.999 203.393 3.9 5.6 0.2

Electricity (1)

189.683 201.277 201.889 3.9 6.4 0.3

Utility (piped) gas service (1)

196.362 197.401 196.345 4.1 0.0 -0.5

Household furnishings and operations

123.044 122.821 122.673 -2.1 -0.3 -0.1

Apparel

137.484 134.771 131.768 -1.4 -4.2 -2.2

Transportation

224.263 223.584 222.030 1.0 -1.0 -0.7

Private transportation

221.999 221.264 220.385 0.9 -0.7 -0.4

New and used motor vehicles (3)

103.858 103.481 103.500 0.1 -0.3 0.0

New vehicles

153.392 152.564 152.197 -0.2 -0.8 -0.2

New cars and trucks (3) (4)

104.411 103.841 103.586 -0.2 -0.8 -0.2

New cars (4)

155.601 155.174 154.568 -0.1 -0.7 -0.4

Used cars and trucks

150.068 150.544 151.454 0.3 0.9 0.6

Motor fuel

315.260 313.227 309.457 1.1 -1.8 -1.2

Gasoline (all types)

313.758 311.741 307.942 0.9 -1.9 -1.2

Unleaded regular (4)

311.678 309.644 305.743 0.8 -1.9 -1.3

Unleaded midgrade (4) (5)

328.654 326.600 322.901 1.2 -1.8 -1.1

Unleaded premium (4)

314.213 312.239 309.108 1.5 -1.6 -1.0

Medical Care

414.620 414.855 415.471 2.7 0.2 0.1

Medical care commodities

328.668 330.137 331.431 3.4 0.8 0.4

Medical care services

443.955 443.651 443.960 2.4 0.0 0.1

Professional services

352.094 352.396 352.060 0.9 0.0 -0.1

Recreation (3)

116.585 116.759 116.065 0.5 -0.4 -0.6

Education and communication (3)

134.044 134.042 134.323 2.0 0.2 0.2

Other goods and services

398.392 400.674 400.736 2.0 0.6 0.0
 

Commodity and Service Group

 
 

All Items

231.762 232.269 232.013 2.0 0.1 -0.1

Commodities

192.429 191.940 191.107 0.6 -0.7 -0.4

Commodities less food & beverages

167.770 167.021 165.862 -0.4 -1.1 -0.7

Nondurables less food & beverages

225.667 224.460 222.243 0.5 -1.5 -1.0

Nondurables less food, beverages, and apparel

279.613 279.237 277.427 1.1 -0.8 -0.6

Durables

113.851 113.510 113.270 -1.9 -0.5 -0.2

Services

271.931 273.404 273.702 2.9 0.7 0.1

Rent of shelter (2)

249.032 249.656 250.345 3.1 0.5 0.3

Transportation services

306.328 306.526 303.507 2.5 -0.9 -1.0

Other services

324.895 325.259 325.455 2.3 0.2 0.1
 

Special aggregate indexes:

 
 

All items less medical care

221.477 221.990 221.700 1.9 0.1 -0.1

All items less food

229.892 230.449 230.141 1.9 0.1 -0.1

All items less shelter

228.891 229.366 228.711 1.4 -0.1 -0.3

Commodities less food

169.606 168.885 167.738 -0.4 -1.1 -0.7

Nondurables

233.581 233.020 231.846 1.4 -0.7 -0.5

Nondurables less food

225.274 224.156 222.031 0.5 -1.4 -0.9

Nondurables less food and apparel

273.400 273.091 271.393 1.0 -0.7 -0.6

Services less rent of shelter (2)

309.269 311.867 311.678 2.7 0.8 -0.1

Services less medical care services

256.339 257.891 258.183 3.0 0.7 0.1

Energy

244.721 249.059 247.539 2.3 1.2 -0.6

All items less energy

231.035 231.113 230.998 2.0 0.0 0.0

All items less food and energy

229.442 229.503 229.353 1.9 0.0 -0.1

Commodities less food and energy commodities

150.038 149.511 148.732 -0.7 -0.9 -0.5

Energy commodities

319.514 317.397 313.615 1.2 -1.8 -1.2

Services less energy services

280.139 280.605 280.892 2.8 0.3 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) 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: August 19, 2014