Consumer Price Index, Anchorage – First Half 2014
Area prices up 0.4 percent over the past six months, up 1.9 percent from a year ago
Prices in the greater Anchorage area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.4 percent in the first half of 2014, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Richard J. Holden noted that this latest six-month increase was influenced by higher prices for shelter and electricity. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)
Over the past 12 months, the CPI-U rose 1.9 percent. (See chart 1.) Energy prices declined 0.6 percent, largely due to a decrease in the price of natural gas. The index for all items less food and energy increased 2.5 percent over the year.
Food prices saw little change, up 0.1 percent in the first half of 2014. (See table 1.) Prices for food away from home edged up 0.1 percent for the past six months. Prices for food at home inched down 0.1 percent for the same period.
For the year ending in the first half of 2014, food prices rose 0.6 percent. Prices for food away from home increased 1.5 percent during the past 12 months, but prices for food at home edged down 0.1 percent.
Energy prices increased 2.1 percent since the second half of 2013. Higher prices for electricity (9.6 percent) and natural gas service (3.1 percent) were partially offset by lower prices for gasoline (-0.6 percent).
Energy prices declined 0.6 percent over the year. The decreases were led by lower natural gas service prices (-8.5 percent) and gasoline prices (-2.0 percent). Prices for electricity advanced 12.1 percent during the same period.
All items less food and energy
The index for all items less food and energy increased 0.5 percent from the second half of 2013 to the first half of 2014. Among the index components, increases were recorded for medical care (2.3 percent), education and communication (1.6 percent), and shelter (1.1 percent). In contrast, prices declined for apparel (-2.4 percent) and recreation (-0.7 percent).
Over the year, the index for all items less food and energy advanced 2.5 percent. Prices increased for apparel (6.8 percent), medical care (3.4 percent), education and communication (3.1 percent), and shelter (3.0 percent). Partially offsetting the increases were price decreases for household furnishings and operations (-1.5 percent) and recreation (-1.4 percent).
In the first half of 2014, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 213.142, up 0.3 percent. The CPI-W increased 2.0 percent over the year.
The second half of 2014 Consumer Price Index for Anchorage is scheduled to be released mid-February, 2015.