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14-1731-KAN

Wednesday, September 17, 2014

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Midwest Region Consumer Price Index August 2014

Prices in the Midwest down 0.2 percent in August but 1.6 percent higher over the year


The Consumer Price Index for All Urban Consumers (CPI-U) in the Midwest declined 0.2 percent in August, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that the monthly decrease was largely attributable to lower prices for motor fuel. Overall, energy costs were 2.6 percent lower over the month. The index for food rose 0.3 percent and the all items less food and energy index registered little movement (0.1 percent).

The CPI-U for the Midwest advanced 1.6 percent from August 2013 to August 2014. Food prices increased 2.8 percent and the energy index, which includes motor fuel and household fuels, was up 0.8 percent. Excluding food and energy, the CPI-U rose 1.5 percent over the year. (See chart 1.)

Chart 1. Over-the-year change in consumer price indexes, Midwest region, August 2011-August 2014

Food

Food prices in the Midwest increased 0.3 percent in August. The index for food at home rose 0.4 percent and costs for food away from home were 0.2 percent higher.

From August 2013 to August 2014, the index for food increased 2.8 percent. Rising costs for food at home (2.9 percent) and food away from home (2.7 percent) both contributed to the yearly advance.

Energy

The energy index had the greatest downward impact on the all items index, falling 2.6 percent in August. The monthly decline in energy costs was largely the result of a 3.8-percent drop in motor fuel prices. Costs for utility (piped) gas service were 4.0 percent lower, while prices for electricity were little changed (0.1 percent).

Despite the monthly decline, the energy index advanced 0.8 percent from August 2013 to August 2014. Costs for electricity and utility (piped) gas service increased 5.7 and 10.4 percent, respectively, while prices for motor fuel decreased 3.9 percent over the year.

All items less food and energy

The index for all items less food and energy for the Midwest was little changed (0.1 percent) in August due to offsetting movements. Components registering higher prices over the month included apparel (1.3 percent) and education and communication (0.5 percent). In contrast, among the expenditure categories posting lower prices over the month was household furnishings and operations (-0.9 percent).

The index for all items less food and energy was up 1.5 percent from August 2013 to August 2014. Higher costs for shelter (2.0 percent) and medical care (2.7 percent) led the advance.

The Midwest Consumer Price Index for All Urban Consumers (CPI-U) stood at 226.587 in August 2014. A typical market basket of goods and services that cost $100.00 in the 1982-84 base period cost $226.59 in August 2014. Because regional CPI data are not adjusted for seasonal price variation, consumers and businesses should be cautious in drawing conclusions about long-term retail price trends from short-term changes in the regional indexes.


Table A. Midwest Region CPI-U monthly and annual percent changes (not seasonally adjusted)
Month 2009 2010 2011 2012 2013 2014
Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual Monthly Annual

January

0.6 -0.3 0.5 2.9 0.5 1.9 0.6 2.8 0.1 1.3 0.5 1.4

February

0.3 -0.2 0.0 2.5 0.3 2.2 0.2 2.7 1.1 2.2 0.6 0.9

March

0.3 -0.8 0.4 2.6 0.9 2.7 1.0 2.8 0.2 1.4 0.9 1.5

April

0.2 -1.5 0.2 2.7 0.7 3.3 0.2 2.3 -0.1 1.2 0.3 1.9

May

0.4 -1.9 0.1 2.4 0.6 3.8 -0.1 1.5 0.5 1.8 0.2 1.6

June

1.1 -1.7 0.0 1.2 0.0 3.9 -0.1 1.4 0.3 2.2 0.5 1.7

July

-0.3 -2.5 0.2 1.7 0.1 3.8 0.0 1.3 -0.4 1.8 -0.3 1.8

August

0.4 -1.8 0.2 1.5 0.2 3.8 0.7 1.8 0.1 1.2 -0.2 1.6

September

0.0 -1.7 0.1 1.6 0.2 3.9 0.3 1.9 0.1 1.0

October

0.1 -0.2 0.0 1.5 -0.6 3.3 -0.3 2.2 -0.5 0.8

November

0.3 2.2 0.1 1.2 0.0 3.3 -0.4 1.8 -0.2 1.0

December

-0.3 3.0 0.2 1.8 -0.2 2.8 -0.2 1.8 -0.2 1.0

CPI-W

In August, the Midwest Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 222.737, down 0.2 percent over the month. The CPI-W increased 1.6 percent over the year.

____________

The September 2014 Consumer Price Index for the Midwest region is scheduled to be released on Wednesday, October 22, 2014.


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 approximately 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 Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.

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Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods

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

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

Expenditure category

 
 

All Items

227.588 226.997 226.587 1.6 -0.4 -0.2

All items (December 1977=100)

370.298 369.336 368.670      

Food and beverages

236.098 236.312 237.128 2.8 0.4 0.3

Food

235.626 235.880 236.682 2.8 0.4 0.3

Food at home

228.973 229.216 230.152 2.9 0.5 0.4

Food away from home

246.615 246.886 247.459 2.7 0.3 0.2

Alcoholic beverages

240.580 240.179 241.190 1.8 0.3 0.4

Housing

211.476 211.842 211.589 2.3 0.1 -0.1

Shelter

243.648 244.121 244.437 2.0 0.3 0.1

Rent of primary residence (1)

240.135 240.720 241.446 2.1 0.5 0.3

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

247.219 247.455 247.963 1.7 0.3 0.2

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

247.215 247.452 247.958 1.7 0.3 0.2

Fuels and utilities

230.887 231.825 229.864 6.7 -0.4 -0.8

Household energy

197.850 198.726 196.373 7.2 -0.7 -1.2

Energy services (1)

205.276 206.269 203.644 7.3 -0.8 -1.3

Electricity (1)

211.577 212.430 212.579 5.7 0.5 0.1

Utility (piped) gas service (1)

184.944 186.149 178.616 10.4 -3.4 -4.0

Household furnishings and operations

117.637 117.293 116.257 -0.9 -1.2 -0.9

Apparel

122.409 119.556 121.165 1.3 -1.0 1.3

Transportation

224.117 220.327 216.940 -1.0 -3.2 -1.5

Private transportation

218.103 214.792 211.809 -1.0 -2.9 -1.4

New and used motor vehicles (3)

99.790 100.385 100.303 -0.4 0.5 -0.1

New vehicles

138.288 139.057 138.519 0.2 0.2 -0.4

New cars and trucks (3) (4)

97.782 98.351 97.965 0.1 0.2 -0.4

New cars (4)

135.026 135.518 134.999 -0.8 0.0 -0.4

Used cars and trucks

153.240 154.114 154.462 -0.1 0.8 0.2

Motor fuel

336.564 320.439 308.239 -3.9 -8.4 -3.8

Gasoline (all types)

334.660 318.493 306.282 -4.3 -8.5 -3.8

Gasoline, unleaded regular (4)

332.202 315.668 303.351 -4.6 -8.7 -3.9

Gasoline, Unleaded midgrade (4) (5)

368.216 354.570 341.351 -2.6 -7.3 -3.7

Gasoline, unleaded premium (4)

330.780 316.518 305.573 -3.5 -7.6 -3.5

Medical Care

440.647 441.813 441.918 2.7 0.3 0.0

Medical care commodities

353.004 355.845 356.242 4.9 0.9 0.1

Medical care services

470.194 470.687 470.676 2.0 0.1 0.0

Professional services

387.001 387.211 387.173 2.5 0.0 0.0

Recreation (3)

117.537 117.721 117.438 -0.1 -0.1 -0.2

Education and communication (3)

139.615 139.782 140.510 2.3 0.6 0.5

Other goods and services

395.564 394.249 394.396 1.1 -0.3 0.0
 

Commodity and Service Group

 
 

All Items

227.588 226.997 226.587 1.6 -0.4 -0.2

Commodities

187.917 186.374 185.678 0.6 -1.2 -0.4

Commodities less food & beverages

163.350 161.103 159.786 -0.8 -2.2 -0.8

Nondurables less food & beverages

219.480 214.569 212.311 -0.6 -3.3 -1.1

Nondurables less food, beverages, and apparel

282.894 276.635 271.896 -1.0 -3.9 -1.7

Durables

108.798 108.941 108.487 -1.0 -0.3 -0.4

Services

268.928 269.273 269.145 2.3 0.1 0.0

Rent of shelter (2)

250.288 250.774 251.089 2.0 0.3 0.1

Transportation services

288.710 286.862 284.998 1.3 -1.3 -0.6

Other services

324.088 324.675 325.197 1.7 0.3 0.2
 

Special aggregate indexes:

 
 

All items less medical care

217.506 216.831 216.398 1.5 -0.5 -0.2

All items less food

226.183 225.454 224.848 1.4 -0.6 -0.3

All items less shelter

224.241 223.243 222.556 1.4 -0.8 -0.3

Commodities less food

165.991 163.781 162.517 -0.7 -2.1 -0.8

Nondurables

228.562 226.049 225.233 1.0 -1.5 -0.4

Nondurables less food

220.714 216.030 213.939 -0.5 -3.1 -1.0

Nondurables less food and apparel

277.996 272.245 267.997 -0.8 -3.6 -1.6

Services less rent of shelter (2)

305.127 305.331 304.688 2.6 -0.1 -0.2

Services less medical care services

253.875 254.210 254.074 2.4 0.1 -0.1

Energy

258.829 252.339 245.707 0.8 -5.1 -2.6

All items less energy

226.908 226.922 227.154 1.7 0.1 0.1

All items less food and energy

226.017 225.987 226.114 1.5 0.0 0.1

Commodities less food and energy commodities

147.503 147.033 147.131 0.4 -0.3 0.1

Energy commodities

332.936 317.374 305.748 -3.7 -8.2 -3.7

Services less energy services

277.573 277.849 277.995 1.9 0.2 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. Midwest includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

Table 2. Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W): Indexes and percent changes for selected periods

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

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

Expenditure category

 
 

All Items

223.929 223.180 222.737 1.6 -0.5 -0.2

All items (December 1977=100)

362.143 360.932 360.215      

Food and beverages

236.323 236.690 237.718 2.9 0.6 0.4

Food

235.948 236.373 237.393 2.9 0.6 0.4

Food at home

229.536 230.042 231.270 3.2 0.8 0.5

Food away from home

247.290 247.555 248.167 2.6 0.4 0.2

Alcoholic beverages

240.682 240.128 241.276 1.8 0.2 0.5

Housing

206.792 207.115 206.907 2.5 0.1 -0.1

Shelter

232.873 233.274 233.683 2.0 0.3 0.2

Rent of primary residence (1)

240.718 241.310 242.061 2.2 0.6 0.3

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

230.338 230.553 231.032 1.7 0.3 0.2

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

230.344 230.558 231.036 1.7 0.3 0.2

Fuels and utilities

231.677 232.587 230.605 6.5 -0.5 -0.9

Household energy

198.162 198.998 196.686 6.9 -0.7 -1.2

Energy services (1)

204.034 204.991 202.406 7.1 -0.8 -1.3

Electricity (1)

209.682 210.466 210.594 5.5 0.4 0.1

Utility (piped) gas service (1)

186.547 187.815 179.936 10.3 -3.5 -4.2

Household furnishings and operations

116.248 115.797 114.745 -0.9 -1.3 -0.9

Apparel

120.292 117.403 118.807 1.5 -1.2 1.2

Transportation

225.886 221.865 218.498 -1.1 -3.3 -1.5

Private transportation

222.155 218.409 215.176 -1.1 -3.1 -1.5

New and used motor vehicles (3)

100.671 101.214 101.150 -0.1 0.5 -0.1

New vehicles

141.633 142.359 141.890 0.1 0.2 -0.3

Used cars and trucks

153.914 154.795 155.142 0.0 0.8 0.2

Motor fuel

337.381 321.278 309.143 -3.9 -8.4 -3.8

Gasoline (all types)

335.327 319.195 307.064 -4.2 -8.4 -3.8

Gasoline, unleaded regular (4)

332.623 316.120 303.906 -4.6 -8.6 -3.9

Gasoline, unleaded midgrade (4) (5)

367.888 354.448 341.232 -2.6 -7.2 -3.7

Gasoline, unleaded premium (4)

330.635 316.451 305.568 -3.5 -7.6 -3.4

Medical Care

445.946 447.063 447.132 2.6 0.3 0.0

Medical care commodities

347.028 349.839 350.174 4.9 0.9 0.1

Medical care services

476.845 477.243 477.201 2.0 0.1 0.0

Professional services

388.305 388.404 388.458 2.5 0.0 0.0

Recreation (3)

114.091 114.284 114.061 0.1 0.0 -0.2

Education and communication (3)

132.561 132.718 133.152 1.9 0.4 0.3

Other goods and services

439.333 436.336 436.661 0.8 -0.6 0.1
 

Commodity and Service Group

 
 

All Items

223.929 223.180 222.737 1.6 -0.5 -0.2

Commodities

192.376 190.622 189.825 0.4 -1.3 -0.4

Commodities less food & beverages

170.211 167.553 165.968 -0.9 -2.5 -0.9

Nondurables less food & beverages

233.121 227.226 224.236 -1.0 -3.8 -1.3

Nondurables less food, beverages, and apparel

302.329 294.595 288.995 -1.6 -4.4 -1.9

Durables

111.292 111.479 111.141 -0.5 -0.1 -0.3

Services

261.885 262.271 262.224 2.4 0.1 0.0

Rent of shelter (2)

231.301 231.700 232.100 2.0 0.3 0.2

Transportation services

284.630 283.683 282.949 1.6 -0.6 -0.3

Other services

301.891 302.401 302.733 1.6 0.3 0.1
 

Special aggregate indexes:

 
 

All items less medical care

215.371 214.555 214.094 1.5 -0.6 -0.2

All items less food

221.501 220.541 219.833 1.3 -0.8 -0.3

All items less shelter

223.160 221.994 221.243 1.3 -0.9 -0.3

Commodities less food

172.510 169.897 168.376 -0.8 -2.4 -0.9

Nondurables

235.613 232.736 231.685 0.7 -1.7 -0.5

Nondurables less food

233.400 227.787 225.015 -0.9 -3.6 -1.2

Nondurables less food and apparel

295.325 288.221 283.202 -1.4 -4.1 -1.7

Services less rent of shelter (2)

271.088 271.421 270.877 2.7 -0.1 -0.2

Services less medical care services

247.586 247.968 247.922 2.5 0.1 0.0

Energy

262.292 255.221 248.335 0.2 -5.3 -2.7

All items less energy

220.973 221.000 221.349 1.8 0.2 0.2

All items less food and energy

218.187 218.130 218.339 1.5 0.1 0.1

Commodities less food and energy commodities

150.800 150.268 150.373 0.5 -0.3 0.1

Energy commodities

334.978 319.277 307.621 -3.8 -8.2 -3.7

Services less energy services

269.544 269.854 270.142 2.0 0.2 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 1984=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. Midwest includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

 

Last Modified Date: September 17, 2014