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Tuesday, February 14, 2023
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.7 percent in January, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the January increase was largely due to an 0.8 percent increase in the shelter index, which also pulled the all items less food and energy index up 0.6 percent. The other major components of the CPI, food and energy, rose 0.9 percent and 1.1 percent, respectively. (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 Northeast all items CPI-U index rose 6.0 percent; since August 2022, 12-month increases have ranged from 6.0 to 7.4 percent. (See chart 1 and table A.) The all items less food and energy index, up 4.9 percent, was predominantly responsible for the over-the-year increase in January. The food index increased 9.7 percent, while the energy index advanced 11.3 percent, the smallest increase March 2021 and well below June’s peak of 44.2 percent. (See table 1.)Food
In January, food prices rose 0.9 percent, above November and December’s 0.2-percent gain. (See table 1.) Of the two major components within the food index, prices for food at home increased 1.0 percent, the highest increase since July 2022, and were responsible for most of the rise in food prices. Notably, prices for nonalcoholic beverages and beverage materials rose 3.4 percent over the month, the highest increase since the index began in 2018, and contributed the most to the food at home index increase. Within the category, higher prices for carbonated drinks and coffee led to the record high. The other food at home index was up 1.1 percent; among the other grocery categories, both the meats, poultry, fish, and eggs index and the cereals and bakery products index advanced 0.9 percent; dairy and related products prices increased 0.8 percent. Slightly offsetting the increase, the fruits and vegetables index was down 0.5-percent, as lettuce and tomato prices were lower. Food away from home prices advanced 0.6 percent.
From January 2022 to January 2023, the food index increased 9.7 percent. The food at home index advanced 11.1 percent since a year ago—continuing a trend of increases in the 10.1 to 12.0 percent range since May 2022—as prices in all grocery categories rose over the year. This was led by a 13.1-percent increase in the other food at home index and a 15.6-percent increase in the cereals and bakery products index, each continuing double-digit increases since last May although they were also down from recent over-the-year peaks. The food away from home index increased 7.2 percent.Energy
The energy index increased 1.1 percent over the month, following last month’s decrease of 4.0 percent. The January increase was nearly entirely due to higher prices for electricity, which advanced 5.9 percent; for the last decade, the electricity index has increased every January. Declines in utility (piped) gas and gasoline held down the overall energy increase. Gasoline prices, which have largely declined since peaking at 18.0 percent in March 2022, were down 1.7 percent following December's 8.5 percent drop. Utility (piped) gas service prices were down 0.6 percent.
Energy prices increased over the year, up 11.3 percent, mainly due to higher prices for electricity (up 14.9 percent although it was the smallest 12-month increase since April 2022). Over the year, prices for utility (piped) gas services were up 23.5 percent; similar to last quarter’s increases and moderately lower than September’s peak of 39.6 percent. The fuel oil index also rose. Gasoline prices were up 0.6 percent since last January, continuing the rapid deceleration in over the year price increases from June 2022’s peak-high of 60.0 percent.All items less food and energy
The index for all items less food and energy increased 0.6 percent in January, led by the rise in the shelter index (up 0.8 percent). All of the shelter components were higher: the owners’ equivalent rent of residences index rose 0.6 percent, lodging away from home advanced, and rent of primary residence was up 0.7 percent. The apparel index increase of 5.1 percent also contributed to the overall index rise. The household furnishing and operations index increased 0.9 percent. Other component indexes increased as well, including education and communication (0.3 percent), recreation (0.4 percent), and other goods and services (0.5 percent). Medical care was unchanged. Partially offsetting the overall index rise were lower prices since December for new and used motor vehicles—down 1.4 percent, as used cars and trucks had a 5th consecutive month of lower prices, down 1.7 percent in January.
Over the year, the index for all items less food and energy was up 4.9 percent, mostly due to the 5.9 percent higher shelter index. The shelter rise was driven by the owners’ equivalent rent of residences index, up 5.4 percent. Although it had less impact on the overall shelter change, the 6.2-percent rise in rent of primary residence was the largest since April 1988. All of the other components of the all items less food and energy index were up over the year except for used cars and trucks, down 11.6 percent, the third such decline since November.Geographic divisions
Additional price indexes are now available for the two divisions of the Northeast. Over the month, the all items CPI-U index for the New England division increased by 0.9 percent. For the Middle Atlantic division, the all items CPI-U index increased by 0.6 percent over the month.
Over the year, the all items index advanced 6.3 percent in the Middle Atlantic division and 5.5 percent in the New England division. (See table B.)
|Area||1-month change||12-month change|
New England Division
Middle Atlantic Division
The February 2022 Consumer Price Index for the Northeast Region is scheduled to be released on March 14, 2023.
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 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 Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
The New England division is comprised of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
The Middle Atlantic division is comprised of New Jersey, New York, and Pennsylvania.
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.
|Expenditure category||Indexes||Percent change from|
All items (December 1977 = 100)
Food and beverages
Food at home
Cereals and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials
Other food at home
Food away from home
Rent of primary residence
Owners' equivalent rent of residences(1)
Owners' equivalent rent of primary residence(1)
Fuels and utilities
Utility (piped) gas service
Household furnishings and operations
New and used motor vehicles(2)
Used cars and trucks
Gasoline (all types)
Gasoline, unleaded regular(3)
Gasoline, unleaded premium(3)
Medical care commodities
Medical care services
Education and communication(2)
Tuition, other school fees, and child care(5)
Other goods and services
Commodity and service group
Commodities less food and beverages
Nondurables less food and beverages
Special aggregate indexes
All items less shelter
All items less medical care
Commodities less food
Nondurables less food
Services less rent of shelter(1)
Services less medical care services
All items less energy
All items less food and energy
Last Modified Date: Tuesday, February 14, 2023