May 29, 2002
Shelter costs rose 4.2 percent in 2001, after increasing 3.4 percent in 2000.
Higher increases were calculated for rent of primary residence, owners’ equivalent rent of primary residence, and housing at school. The rent of primary residence index showed the largest increase in 15 years—4.7 percent, compared with 4.0 percent in 2000. The owners’ equivalent rent index rose 4.5 percent last year, following a 3.4 percent increase in 2000.
Hotel and motel charges, which are part of shelter costs, decreased 0.8 percent in 2001, after rising 2.7 percent during the previous year. Before September 11, demand for hotels and motels was already weak. Following September 11, demand further decreased for hotels and motels, especially in New York, Las Vegas, and Orlando.
These data are produced by the BLS Consumer Price Index program. Annual percent changes are December-to-December changes. Details on the calculation of rent of primary residence and of owners’ equivalent rent of primary residence are in Consumer Price Indexes for Rent and Rental Equivalence. For additional information on consumer price changes in 2001, see "Consumer inflation lower in 2001: energy and apparel prices declined," by Todd Wilson, Monthly Labor Review, March 2002.