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Thursday, October 12, 2023
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased by 0.3 percent in September, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the September increase was primarily due to a 0.3-percent rise in the all items less food and energy index which was driven largely by increasing prices for shelter and a 0.4-percent increase in the food index. The energy index rose 0.5 percent. (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 3.0 percent. The September increase was mainly due to a 3.5-percent rise in the all items less food and energy index which was led by increases within the shelter index. This is the seventh consecutive month that the 12-month change in the all items index has been lower than the all items less food and energy index. (See chart 1.) The food index continued moderating, rising 3.6 percent which was the smallest price increase in 2023 so far, as the pace of increases has lessened every month. The energy index decreased 3.4 percent, trending down for the seventh consecutive month. (See table 1.)
FoodIn September, the food index was up 0.4 percent as prices for food at home rose 0.3 percent due to most grocery category prices increasing. (See table 1.) The food away from home index increased 0.4 percent over the month. The groceries with higher prices included fruits and vegetables (up 1.1 percent); dairy and related products (up 1.6 percent); meats, poultry, fish, and eggs (up 0.5 percent); and other food at home (up 0.1 percent). The only categories to decrease were nonalcoholic beverages and beverage materials (down 0.9) and cereals and bakery products (down 0.3 percent).
From September 2022 to September 2023, food prices continued to moderate for the ninth consecutive month as the index increased 3.6 percent, down from the 4.0-percent rise in August. The food away from home index increased 6.0 percent. Prices for food at home increased 2.3 percent, the lowest rise in 2 years. The other food at home index rose 3.7 percent, cereals and bakery products were up 5.6 percent (the smallest rise since January 2022), and nonalcoholic beverages and beverage materials increased 5.0 percent. Prices for dairy and related products increased 1.8 percent while fruit and vegetable prices increased 0.1 percent in the same period. The only grocery category to decrease was meats, poultry, fish, and eggs (down 0.7 percent)—the fifth consecutive month of price decreases.
EnergyThe energy index advanced 0.5 percent in September, after rising 3.0 percent in August. The increase was driven by higher fuel oil prices and a 0.2 percent increase in prices for gasoline. The electricity and utility (piped) gas service indexes fell 0.4 percent and 0.1 percent, respectively—partially offsetting the overall energy index price rise.
Over the year, energy prices were down 3.4 percent, continuing the trend of price decreases since March, as some of the index components declined. The utility (piped) gas service index was down 23.1 percent—the largest decline in that index since October 2009. Fuel oil prices also decreased. Prices for gasoline increased 2.3 percent, reversing a 7-month trend of consecutive price decreases that started in February. The electricity index increased, up 1.1 percent, with the 1.1 percent gain in August still the smallest increase since May 2020.
All items less food and energyThe index for all items less food and energy rose 0.3 percent in September. The September rise was mainly due to a 0.7-percent rise in the shelter index, and within shelter, the owners’ equivalent rent of residences and rent of primary residence indexes were both up 0.7 percent while lodging away from home prices increased as well. New and used motor vehicle prices decreased 1.9 percent–the largest price decrease since November 2022. The decrease was driven by falling prices for used cars and trucks (down 5.0 percent), marking the biggest price decrease since this index started in 1978. Medical care prices fell 0.4 percent due to medical care commodities and medical care services decreasing 0.3 percent and 0.5 percent, respectively. Other categories also increased and contributed to the overall rise including education and communication (up 0.5 percent), and apparel (up 1.0 percent).
Over the year, the index for all items less food and energy was up 3.5 percent. Like the monthly increase, this was primarily due to the shelter index (up 6.6 percent, after last month’s 6.4-percent increase); within that index, both the owners’ equivalent rent of residences index and the rent of primary residence index also increased 6.7 percent. The index for lodging away from home was up in the same period. Other goods and services, and education and communication both increased as well, up 4.8 and 1.4 percent, respectively. The medical care index tempered the overall rise, declining 4.6 percent as prices for medical care services decreased 6.0 percent; both indexes continued to have larger 12-month decreases since March 2023.
Geographic divisionsAdditional 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 increased 0.2 percent.
Over the year, the all items index rose 3.2 percent in the Middle Atlantic division and 2.5 percent in the New England division. (See table B.)
Month | 2019 | 2020 | 2021 | 2022 | 2023 | |||||
---|---|---|---|---|---|---|---|---|---|---|
1-month | 12-month | 1-month | 12-month | 1-month | 12-month | 1-month | 12-month | 1-month | 12-month | |
January | 0.3 | 1.5 | 0.7 | 2.3 | 0.4 | 1.1 | 0.8 | 6.3 | 0.7 | 6.0 |
February | 0.2 | 1.3 | 0.3 | 2.4 | 0.4 | 1.2 | 0.7 | 6.6 | 0.5 | 5.9 |
March | 0.5 | 1.7 | -0.2 | 1.7 | 0.6 | 2.1 | 1.3 | 7.3 | -0.2 | 4.3 |
April | 0.4 | 1.7 | -0.4 | 0.8 | 0.7 | 3.3 | 0.6 | 7.2 | 0.2 | 3.8 |
May | 0.3 | 1.5 | 0.0 | 0.6 | 0.6 | 3.9 | 0.9 | 7.5 | 0.1 | 3.1 |
June | 0.1 | 1.6 | 0.3 | 0.8 | 1.0 | 4.6 | 1.2 | 7.6 | 0.3 | 2.2 |
July | 0.1 | 1.7 | 0.4 | 1.1 | 0.2 | 4.3 | -0.2 | 7.3 | 0.2 | 2.6 |
August | 0.1 | 1.5 | 0.1 | 1.1 | 0.1 | 4.4 | 0.3 | 7.4 | 0.5 | 2.8 |
September | 0.0 | 1.4 | 0.1 | 1.2 | 0.3 | 4.6 | 0.1 | 7.2 | 0.3 | 3.0 |
October | -0.1 | 1.5 | -0.2 | 1.1 | 0.6 | 5.4 | 0.3 | 6.9 | ||
November | 0.1 | 1.9 | 0.1 | 1.1 | 0.6 | 6.0 | 0.1 | 6.4 | ||
December | -0.1 | 1.9 | 0.2 | 1.4 | 0.2 | 5.9 | -0.1 | 6.1 |
Area | 1-month change | 12-month change |
---|---|---|
Northeast | 0.3 | 3.0 |
New England Division | 0.2 | 2.5 |
Middle Atlantic Division | 0.3 | 3.2 |
The October 2023 Consumer Price Index for the Northeast Region is scheduled to be released on November 14, 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 | |||||
---|---|---|---|---|---|---|---|
Historical data | Jul. 2023 | Aug. 2023 | Sep. 2023 | Sep. 2022 | Jul. 2023 | Aug. 2023 | |
All items | 313.952 | 315.441 | 316.373 | 3.0 | 0.8 | 0.3 | |
All items (December 1977 = 100) | 494.379 | 496.723 | 498.191 | ||||
Food and beverages | 323.002 | 323.245 | 324.377 | 3.6 | 0.4 | 0.4 | |
Food | 325.081 | 325.432 | 326.593 | 3.6 | 0.5 | 0.4 | |
Food at home | 306.205 | 305.792 | 306.771 | 2.3 | 0.2 | 0.3 | |
Cereals and bakery products | 387.713 | 387.495 | 386.251 | 5.6 | -0.4 | -0.3 | |
Meats, poultry, fish, and eggs | 303.874 | 306.112 | 307.700 | -0.7 | 1.3 | 0.5 | |
Dairy and related products | 281.156 | 277.180 | 281.719 | 1.8 | 0.2 | 1.6 | |
Fruits and vegetables | 356.495 | 352.615 | 356.376 | 0.1 | 0.0 | 1.1 | |
Nonalcoholic beverages and beverage materials | 215.115 | 216.826 | 214.879 | 5.0 | -0.1 | -0.9 | |
Other food at home | 279.691 | 279.270 | 279.541 | 3.7 | -0.1 | 0.1 | |
Food away from home | 357.255 | 359.368 | 360.909 | 6.0 | 1.0 | 0.4 | |
Alcoholic beverages | 294.274 | 293.065 | 293.809 | 3.3 | -0.2 | 0.3 | |
Housing | 335.321 | 337.346 | 339.281 | 4.6 | 1.2 | 0.6 | |
Shelter | 411.594 | 413.698 | 416.575 | 6.6 | 1.2 | 0.7 | |
Rent of primary residence | 414.384 | 416.497 | 419.414 | 6.7 | 1.2 | 0.7 | |
Owners' equivalent rent of residences(1) | 426.355 | 428.680 | 431.564 | 6.7 | 1.2 | 0.7 | |
Owners' equivalent rent of primary residence(1) | 425.968 | 428.290 | 431.179 | 6.7 | 1.2 | 0.7 | |
Fuels and utilities | 284.664 | 288.771 | 290.749 | -5.3 | 2.1 | 0.7 | |
Household energy | 252.760 | 257.022 | 259.094 | -7.0 | 2.5 | 0.8 | |
Energy services | 248.947 | 249.752 | 248.919 | -7.5 | 0.0 | -0.3 | |
Electricity | 263.933 | 264.393 | 263.300 | 1.1 | -0.2 | -0.4 | |
Utility (piped) gas service | 203.018 | 204.401 | 204.109 | -23.1 | 0.5 | -0.1 | |
Household furnishings and operations | 143.680 | 144.347 | 143.691 | 1.5 | 0.0 | -0.5 | |
Apparel | 132.144 | 135.581 | 136.951 | 2.6 | 3.6 | 1.0 | |
Transportation | 261.486 | 264.568 | 263.247 | 2.9 | 0.7 | -0.5 | |
Private transportation | 261.015 | 264.688 | 263.044 | 3.6 | 0.8 | -0.6 | |
New and used motor vehicles(2) | 129.791 | 129.859 | 127.377 | -0.6 | -1.9 | -1.9 | |
New vehicles | 175.216 | 175.463 | 175.567 | 2.9 | 0.2 | 0.1 | |
New cars(3) | 165.736 | 165.847 | 165.544 | 2.2 | -0.1 | -0.2 | |
Used cars and trucks | 212.904 | 209.769 | 199.216 | -7.7 | -6.4 | -5.0 | |
Motor fuel | 307.015 | 321.648 | 322.306 | 1.9 | 5.0 | 0.2 | |
Gasoline (all types) | 306.693 | 321.226 | 321.733 | 2.3 | 4.9 | 0.2 | |
Gasoline, unleaded regular(3) | 302.193 | 316.923 | 317.127 | 2.4 | 4.9 | 0.1 | |
331.346 | 345.465 | 347.644 | 1.2 | 4.9 | 0.6 | ||
Gasoline, unleaded premium(3) | 326.210 | 339.051 | 341.418 | 2.1 | 4.7 | 0.7 | |
Medical care | 559.936 | 558.709 | 556.263 | -4.6 | -0.7 | -0.4 | |
Medical care commodities | 402.552 | 401.465 | 400.240 | 2.8 | -0.6 | -0.3 | |
Medical care services | 606.070 | 604.804 | 601.994 | -6.0 | -0.7 | -0.5 | |
Professional services | 434.158 | 434.702 | 435.698 | 0.9 | 0.4 | 0.2 | |
Recreation(2) | 140.109 | 139.616 | 139.950 | 2.2 | -0.1 | 0.2 | |
Education and communication(2) | 154.643 | 154.896 | 155.620 | 1.4 | 0.6 | 0.5 | |
Tuition, other school fees, and child care(5) | 1,398.129 | 1,405.852 | 1,420.287 | 3.7 | 1.6 | 1.0 | |
Other goods and services | 594.572 | 589.401 | 593.468 | 4.8 | -0.2 | 0.7 | |
Commodity and service group | |||||||
Commodities | 228.467 | 230.106 | 230.373 | 1.6 | 0.8 | 0.1 | |
Commodities less food and beverages | 179.052 | 181.180 | 181.083 | 0.4 | 1.1 | -0.1 | |
Nondurables less food and beverages | 227.978 | 233.594 | 235.428 | 2.2 | 3.3 | 0.8 | |
Durables | 124.000 | 123.602 | 122.274 | -1.9 | -1.4 | -1.1 | |
Services | 396.085 | 397.440 | 399.003 | 3.8 | 0.7 | 0.4 | |
Special aggregate indexes | |||||||
All items less shelter | 280.106 | 281.376 | 281.577 | 1.1 | 0.5 | 0.1 | |
All items less medical care | 303.152 | 304.768 | 305.855 | 3.7 | 0.9 | 0.4 | |
Commodities less food | 183.289 | 185.339 | 185.264 | 0.5 | 1.1 | 0.0 | |
Nondurables | 274.916 | 277.912 | 279.405 | 2.9 | 1.6 | 0.5 | |
Nondurables less food | 231.861 | 237.051 | 238.817 | 2.3 | 3.0 | 0.7 | |
Services less rent of shelter(1) | 391.995 | 392.506 | 392.569 | 0.6 | 0.1 | 0.0 | |
Services less medical care services | 381.607 | 383.146 | 385.015 | 5.0 | 0.9 | 0.5 | |
Energy | 275.009 | 283.238 | 284.786 | -3.4 | 3.6 | 0.5 | |
All items less energy | 321.454 | 322.378 | 323.269 | 3.5 | 0.6 | 0.3 | |
All items less food and energy | 322.857 | 323.888 | 324.736 | 3.5 | 0.6 | 0.3 | |
Footnotes |
Last Modified Date: Thursday, October 12, 2023