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News Release Information

24-1908-SAN
Wednesday, September 11, 2024

Contacts Technical information: Media contact:
  • (415) 625-2270

Consumer Price Index, San Francisco Area — August 2024

Area prices were down 0.5 percent over the past two months, up 2.7 percent from a year ago

Prices in the San Francisco area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), declined 0.5 percent for the two months ending in August 2024, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the August decrease was influenced by lower prices for shelter. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U rose 2.7 percent. (See chart 1 and table A.) Food prices increased 1.6 percent. Energy prices increased 2.3 percent, largely the result of an increase in the price of natural gas service. The index for all items less food and energy rose 2.9 percent over the year. (See table 1.)

Food

Food prices decreased 0.1 percent for the two months ending in August. (See table 1.) Prices for food at home declined 0.3 percent, with lower prices for other food at home (-3.0 percent) and cereals and bakery products (-0.4 percent). Prices for food away from home increased 0.2 percent for the same period.

Over the year, food prices increased 1.6 percent. Prices for food at home decreased 0.4 percent since a year ago, with lower prices for other food at home (-3.3 percent) and dairy and related products (-2.6 percent). Prices for food away from home rose 4.7 percent.

Energy

The energy index decreased 4.8 percent for the two months ending in August. The decrease was mainly due to lower prices for electricity (-9.0 percent) and gasoline (-5.7 percent). Prices for natural gas service increased 15.0 percent for the same period.

Energy prices increased 2.3 percent over the year, largely due to higher prices for natural gas service (31.8 percent). Prices paid for electricity increased 9.2 percent, while prices for gasoline declined 8.5 percent during the past year.

All items less food and energy

The index for all items less food and energy declined 0.3 percent in the latest two-month period. Lower prices for recreation (-1.0 percent) and shelter (-0.8 percent) were partially offset by higher prices for apparel (2.0 percent) and education and communication (0.6 percent).

Over the year, the index for all items less food and energy rose 2.9 percent. Components contributing to the increase included apparel (26.8 percent) and shelter (2.6 percent). Partly offsetting the increases was a price decrease in new and used motor vehicles (-1.5 percent).

Table A. San Francisco-Oakland-Hayward, CA, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2020 2021 2022 2023 2024
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

0.9 2.9 0.5 1.6 1.4 5.2 1.8 5.3 1.5 2.4

April

-0.5 1.1 1.7 3.8 1.5 5.0 0.4 4.2 1.8 3.8

June

0.7 1.6 0.0 3.2 1.7 6.8 0.5 2.9 -0.1 3.2

August

0.0 1.6 0.5 3.7 -0.5 5.7 0.0 3.4 -0.5 2.7

October

0.5 1.1 0.7 3.8 1.0 6.0 0.3 2.8

December

0.4 2.0 0.8 4.2 -0.3 4.9 -0.4 2.6

The October 2024 Consumer Price Index for the San Francisco area is scheduled to be released on November 13, 2024.


Technical Note

The Consumer Price Index (CPI) is a measures 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 93 percent of the total U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 75 urban areas across the country from about 6,000 housing units and approximately 22,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000.  Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.

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 San Francisco-Oakland-Hayward, CA. metropolitan area covered in this release is comprised of Alameda, Contra Costa, Marin, San Francisco, San Mateo Counties in the State of California.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

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

San Francisco-Oakland-Hayward, CA (1982-84=100 unless otherwise noted)
Item and Group

Indexes Percent change from-
Historical
data
Jun.
2024
Jul.
2024
Aug.
2024
Aug.
2023
Jun.
2024
Jul.
2024

Expenditure category

All items

351.064 - 349.290 2.7 -0.5 -

All items (1967=100)

1,079.270 - 1,073.814 - - -

Food and beverages

369.320 - 369.067 1.5 -0.1 -

Food

372.216 - 371.987 1.6 -0.1 -

Food at home

331.134 332.446 330.130 -0.4 -0.3 -0.7

Cereals and bakery products

335.839 337.560 334.595 2.4 -0.4 -0.9

Meats, poultry, fish, and eggs

354.032 357.492 358.089 1.1 1.1 0.2

Dairy and related products

328.616 331.737 329.875 -2.6 0.4 -0.6

Fruits and vegetables

419.859 417.416 419.717 0.8 0.0 0.6

Nonalcoholic beverages and beverage materials(1)

237.036 233.900 243.269 1.7 2.6 4.0

Other food at home

297.951 301.663 288.988 -3.3 -3.0 -4.2

Food away from home

424.458 - 425.466 4.7 0.2 -

Alcoholic beverages

335.583 - 334.908 0.3 -0.2 -

Housing

406.145 - 403.097 2.9 -0.8 -

Shelter

451.424 446.974 447.846 2.6 -0.8 0.2

Rent of primary residence(2)

504.841 506.110 508.724 1.5 0.8 0.5

Owners' equiv. rent of residences(2)(3)

476.496 477.909 480.745 2.9 0.9 0.6

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

476.496 477.909 480.745 2.9 0.9 0.6

Fuels and utilities

641.090 - 633.872 11.5 -1.1 -

Household energy

625.132 593.501 601.957 14.9 -3.7 1.4

Energy services(2)

629.786 597.343 605.937 15.3 -3.8 1.4

Electricity(2)

741.126 674.277 674.277 9.2 -9.0 0.0

Utility (piped) gas service(2)

422.321 459.255 485.722 31.8 15.0 5.8

Household furnishings and operations

171.370 - 171.369 -0.1 0.0 -

Apparel

146.378 - 149.279 26.8 2.0 -

Transportation

260.737 - 257.999 1.6 -1.1 -

Private transportation

263.093 - 259.688 1.6 -1.3 -

New and used motor vehicles(4)

119.706 - 119.696 -1.5 0.0 -

New vehicles(1)

192.608 - 191.864 -2.1 -0.4 -

Used cars and trucks(1)

329.758 - 324.064 -9.8 -1.7 -

Motor fuel

359.602 345.396 339.116 -8.6 -5.7 -1.8

Gasoline (all types)

357.461 343.322 337.074 -8.5 -5.7 -1.8

Gasoline, unleaded regular(4)

357.164 342.795 336.454 -8.8 -5.8 -1.8

Gasoline, unleaded midgrade(4)(5)

334.378 321.595 315.775 -8.1 -5.6 -1.8

Gasoline, unleaded premium(4)

340.096 327.458 321.854 -7.6 -5.4 -1.7

Medical care

591.992 - 591.710 0.1 0.0 -

Recreation(6)

150.338 - 148.836 2.2 -1.0 -

Education and communication(6)

162.511 - 163.493 1.2 0.6 -

Tuition, other school fees, and child care(1)

1,979.336 - 2,016.190 - 1.9 -

Other goods and services

637.939 - 631.069 0.3 -1.1 -

Commodity and service group

All items

351.064 - 349.290 2.7 -0.5 -

Commodities

238.204 - 236.337 0.3 -0.8 -

Commodities less food & beverages

170.685 - 168.271 -0.2 -1.4 -

Nondurables less food & beverages

235.452 - 230.421 2.4 -2.1 -

Durables

112.951 - 112.380 -3.7 -0.5 -

Services

446.320 - 444.633 3.9 -0.4 -

Special aggregate indexes

All items less medical care

341.070 - 339.233 2.9 -0.5 -

All items less shelter

312.124 - 311.207 2.8 -0.3 -

Commodities less food

178.133 - 175.708 -0.2 -1.4 -

Nondurables

303.772 - 301.130 1.7 -0.9 -

Nondurables less food

243.991 - 239.137 2.3 -2.0 -

Services less rent of shelter(3)

466.142 - 467.496 6.0 0.3 -

Services less medical care services

435.670 - 433.829 4.1 -0.4 -

Energy

465.828 445.022 443.601 2.3 -4.8 -0.3

All items less energy

350.137 - 349.140 2.7 -0.3 -

All items less food and energy

347.672 - 346.549 2.9 -0.3 -

Footnotes
(1) Indexes on a December 1977=100 base.
(2) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(3) Indexes on a December 1982=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.
(6) Indexes on a December 1997=100 base.

- Data not available
NOTE: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Wednesday, September 11, 2024