Tuesday, June 13, 2023
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.1 percent in May, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the May increase was due to a 0.3-percent rise in the all items less food and energy index, mainly due to higher shelter prices. The food index and the energy index both decreased, down 0.1 percent and 1.8 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 increased 3.1 percent, the smallest over-the-year increase since March 2021, and well below the recent peak of 7.6 percent in June 2022. The May increase was mainly due to a 4.3-percent rise in the all items less food and energy index which was led by increases within the shelter component, as was the over-the-month rise. (See chart 1 and table A.) This is the third consecutive month that the 12-month change in the all items index has been lower than the all items less food and energy index. The food index continued moderating, rising only 6.2 percent (down from a peak of 10.3 percent in October), while the energy index decreased 13.7 percent, down for the third consecutive month after over 2 years of 12-month increases which peaked at 44.2 percent in June 2022. (See table 1.)Food
In May, the food index was down 0.1 percent, the first decline since February 2021, as prices for food at home decreased 0.4 percent. (See table 1.) Within the food at home category, half of the categories had declines while the other half rose. Lower prices for meats, poultry, fish, and eggs were mostly responsible for the overall decrease as they were down 1.6 percent (the largest percent decrease in the index since July 2020). Prices for other food at home declined 0.7 percent and dairy and related products were down 1.2 percent. The categories that were up included nonalcoholic beverages and beverage materials (up 1.1 percent), fruits and vegetables (up 0.6 percent), and cereals and bakery products (up 0.1 percent). The food away from home index rose 0.4 percent over the month.
From May 2022 to May 2023, the food index increased 6.2 percent. Prices for food at home rose 5.2 percent while prices for food away from home rose 8.0 percent. All grocery categories but one were up over the year but continued to moderate. The 7.5-percent rise in the other food at home index broke a yearlong streak of double digit percent increases ranging from 10.2 to 14.0 percent. Cereals and bakery product prices were up 11.1 percent, the smallest rise since last April. The meats, poultry, fish, and eggs index edged down 0.1 percent, the first over-the-year decline since May 2021.Energy
The energy index decreased for the fourth month in a row, down 1.8 percent since April as all energy categories except for gasoline continued to decline. The utility (piped) gas service index was down 5.4 percent, electricity decreased 2.2 percent, and fuel oil prices also declined. Gasoline was up 1.3 percent over the month, following a 4.5-percent increase in April.
Over the year, energy prices continued to drop, down 13.7 percent, the largest decline since May 2020. The decrease was mainly due to 21.2-percent lower gasoline prices, the fourth month in a row of declines after 24 months of increases peaking at 60.0 percent last June. The fuel oil index also decreased. Prices for utility (piped) gas service were down 8.4 percent, the largest decrease since February 2016. The only index to increase over the year was electricity, which rose 5.4 percent. This rise in the electricity index was the smallest since December 2021.All items less food and energy
The index for all items less food and energy rose 0.3 percent in May, primarily due to a matching rise in the shelter index. Within shelter, owners’ equivalent rent of residences contributed the most to the increase and advanced 0.4 percent. Also in the shelter category, rent of primary residence had a 0.3 percent increase. The index for new and used motor vehicles was up 0.9 percent mainly due to a 3.3-percent rise in prices for used cars and trucks. Prices for new vehicles increased 0.3 percent over the month. The only categories to decrease in May were household furnishings and operations (down 0.7 percent) and education and communication (down 0.1 percent).
Over the year, the index for all items less food and energy was up 4.3 percent, also driven by the shelter index, which rose 6.2 percent. In the shelter category, the owners’ equivalent rent of residences index increased 6.1 percent and rent of primary residence advanced 6.7 percent, similar to the increases for the past 2 months. The new and used motor vehicles index was up 3.8 percent as new vehicle prices increased 5.2 percent but prices for used cars and trucks decreased 4.0 percent. Medical care prices also declined, down 1.4 percent for the second month in a row, as prices for medical care services declined 2.4 percent, also the same as April.Geographic divisions
Additional price indexes are available for the two divisions of the Northeast. Over the month, the all items CPI-U index for the Middle Atlantic division increased 0.3 percent. The CPI-U for the New England division decreased 0.2 percent.
Over the year, the all items index advanced 3.3 percent in the Middle Atlantic division and 2.4 percent in the New England division. (See table B.)
|Area||1-month change||12-month change|
New England Division
Middle Atlantic Division
The June 2023 Consumer Price Index for the Northeast Region is scheduled to be released on July 12, 2023.
The Consumer Price Index for the Northeast Region is published monthly. 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, 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, June 13, 2023