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Tuesday, December 12, 2023
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were unchanged in November, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that this was due to counteracting price changes between the food index (down 0.2 percent), the all items less food and energy index (unchanged), and the energy index (up 0.1 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 2.5 percent. The November advance was primarily 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. The food index rose 2.7 percent—the smallest rise in 2023 so far—as increases continued to moderate since the year began. The energy index decreased 7.8 percent and has been lower than the year before every month since March. (See table 1.) Since March 2023, the 12-month change in the all items index has been lower than the all items less food and energy index. (See chart 1.)
FoodIn November, the food index decreased 0.2 percent (the largest decline in the index since February 2021) as the food at home index also declined (down 0.5 percent—the fifth and largest such decline in 2023). (See table 1.) Most grocery categories were down over the month, including other food at home (down 1.1 percent, the largest decrease in that index since it began) and fruits and vegetables (down 1.5 percent, mainly due to declines in canned fruits and vegetables prices). Cereals and bakery products (up 0.5 percent) and dairy and related products (up 0.6 percent) were the only food at home indexes to rise. Prices for food away from home rose 0.4 percent over the month.
From November 2022 to November 2023, food prices continued to moderate, up 2.7 percent—the 12-month rate of increase slowed every month in 2023 after starting the year at 9.7 percent. Food away from home prices rose 5.3 percent, while the food at home index was up just 1.4 percent. This was the smallest over-the year increase in grocery prices since July 2021; the increases peaked at 12.0 percent in August 2022. Nearly all grocery categories rose over the year, including the other food at home index (up 2.6 percent), cereals and bakery products (up 3.4 percent), and nonalcoholic beverages and beverage materials (up 4.1 percent). The only grocery item to decline from last November was meats, poultry, fish, and eggs—decreasing for the seventh consecutive month—down 1.4 percent.
EnergyThe energy index increased 0.1 percent in November, up after a 2.2-percent decline last month (energy prices decreased in 7 of the last 12 months). The November increase was led by a 9.7-percent increase in the utility (piped) gas service index, which typically increases in November. The electricity index also contributed to the overall rise as it was up 2.7 percent, although it has declined in 7 of the last 12 months. The gasoline index decreased 4.7 percent over the month, tempering the increase, and the fuel oil index was also down.
Over the year, energy prices were down 7.8 percent; this was the ninth month of year-over-year declines, ranging from -3.4 to -17.0 percent. The November decline was driven by lower prices for gasoline (down 7.7 percent), utility (piped) gas service (down 15.0 percent, following a decline of 21.6 percent in October), and fuel oil. The electricity index was up 2.0 percent, the only energy component to increase—the rise followed a 0.6-percent decline in October and is well below the February peak of 23.2 percent.
All items less food and energyThe index for all items less food and energy was unchanged in November due to a mixture of positive and negative movements that were spread throughout the components of the index. The shelter index was up 0.4 percent over the month, with owner’s equivalent rent of residences (up 0.6 percent) and rent of primary residence (up 0.4 percent) contributing to the increase. Falling prices for lodging away from home counteracted some of the rise. The medical care index and the new and used vehicle index were both up 0.4 percent. Several components decreased, including apparel (down 5.2 percent, this index typically declines in November), household furnishings and operations (down 0.6 percent), and recreation (down 0.5 percent).
Over the year, the index for all items less food and energy was up 3.5 percent, as the shelter index component increased 6.4 percent. Owner’s equivalent rent of residences was up 6.6 percent and rent of primary residence had a 6.5-percent increase. The only major component of the all items less food and energy index to decline was the medical care index, down 4.7 percent, for a ninth consecutive over-the-year decrease. This decline was driven by a 6.2-percent decrease in the medical care services index.
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 decreased 0.1 percent. The CPI-U for the New England division increased 0.4 percent.
Over the year, the all items index rose 2.8 percent in the Middle Atlantic division and 2.0 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 | 0.0 | 2.7 |
November | 0.1 | 1.9 | 0.1 | 1.1 | 0.6 | 6.0 | 0.1 | 6.4 | 0.0 | 2.5 |
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 | 0.0 | 2.5 |
New England Division | 0.4 | 2.0 |
Middle Atlantic Division | -0.1 | 2.8 |
The December 2023 Consumer Price Index for the Northeast Region is scheduled to be released on January 11, 2024.
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 | Sep. 2023 | Oct. 2023 | Nov. 2023 | Nov. 2022 | Sep. 2023 | Oct. 2023 | |
All items | 316.373 | 316.300 | 316.252 | 2.5 | 0.0 | 0.0 | |
All items (December 1977 = 100) | 498.191 | 498.076 | 498.000 | ||||
Food and beverages | 324.377 | 326.008 | 325.397 | 2.8 | 0.3 | -0.2 | |
Food | 326.593 | 328.271 | 327.572 | 2.7 | 0.3 | -0.2 | |
Food at home | 306.771 | 308.342 | 306.717 | 1.4 | 0.0 | -0.5 | |
Cereals and bakery products | 386.251 | 386.634 | 388.714 | 3.4 | 0.6 | 0.5 | |
Meats, poultry, fish, and eggs | 307.700 | 308.970 | 307.669 | -1.4 | 0.0 | -0.4 | |
Dairy and related products | 281.719 | 279.994 | 281.626 | 0.3 | 0.0 | 0.6 | |
Fruits and vegetables | 356.376 | 362.625 | 357.172 | 0.7 | 0.2 | -1.5 | |
Nonalcoholic beverages and beverage materials | 214.879 | 215.927 | 215.612 | 4.1 | 0.3 | -0.1 | |
Other food at home | 279.541 | 280.625 | 277.526 | 2.6 | -0.7 | -1.1 | |
Food away from home | 360.909 | 362.775 | 364.256 | 5.3 | 0.9 | 0.4 | |
Alcoholic beverages | 293.809 | 294.792 | 295.374 | 4.0 | 0.5 | 0.2 | |
Housing | 339.281 | 339.349 | 341.316 | 4.3 | 0.6 | 0.6 | |
Shelter | 416.575 | 417.687 | 419.375 | 6.4 | 0.7 | 0.4 | |
Rent of primary residence | 419.414 | 421.432 | 423.237 | 6.5 | 0.9 | 0.4 | |
Owners' equivalent rent of residences(1) | 431.564 | 433.092 | 435.554 | 6.6 | 0.9 | 0.6 | |
Owners' equivalent rent of primary residence(1) | 431.179 | 432.688 | 435.143 | 6.6 | 0.9 | 0.6 | |
Fuels and utilities | 290.749 | 286.199 | 294.997 | -5.9 | 1.5 | 3.1 | |
Household energy | 259.094 | 254.205 | 263.481 | -7.5 | 1.7 | 3.6 | |
Energy services | 248.919 | 243.595 | 255.200 | -4.0 | 2.5 | 4.8 | |
Electricity | 263.300 | 256.473 | 263.322 | 2.0 | 0.0 | 2.7 | |
Utility (piped) gas service | 204.109 | 201.952 | 221.491 | -15.0 | 8.5 | 9.7 | |
Household furnishings and operations | 143.691 | 143.340 | 142.503 | 0.8 | -0.8 | -0.6 | |
Apparel | 136.951 | 135.288 | 128.189 | 0.1 | -6.4 | -5.2 | |
Transportation | 263.247 | 263.135 | 261.067 | 2.5 | -0.8 | -0.8 | |
Private transportation | 263.044 | 262.200 | 259.919 | 3.0 | -1.2 | -0.9 | |
New and used motor vehicles(2) | 127.377 | 126.272 | 126.799 | 1.8 | -0.5 | 0.4 | |
New vehicles | 175.567 | 175.536 | 175.000 | 2.0 | -0.3 | -0.3 | |
New cars(3) | 165.544 | 165.556 | 165.466 | 1.5 | 0.0 | -0.1 | |
Used cars and trucks | 199.216 | 196.510 | 198.124 | -3.3 | -0.5 | 0.8 | |
Motor fuel | 322.306 | 313.683 | 299.039 | -8.0 | -7.2 | -4.7 | |
Gasoline (all types) | 321.733 | 312.856 | 298.096 | -7.7 | -7.3 | -4.7 | |
Gasoline, unleaded regular(3) | 317.127 | 307.625 | 292.560 | -8.1 | -7.7 | -4.9 | |
347.644 | 341.990 | 328.683 | -5.6 | -5.5 | -3.9 | ||
Gasoline, unleaded premium(3) | 341.418 | 336.743 | 324.423 | -4.7 | -5.0 | -3.7 | |
Medical care | 556.263 | 548.512 | 550.861 | -4.7 | -1.0 | 0.4 | |
Medical care commodities | 400.240 | 400.017 | 403.345 | 3.3 | 0.8 | 0.8 | |
Medical care services | 601.994 | 591.982 | 594.027 | -6.2 | -1.3 | 0.3 | |
Professional services | 435.698 | 423.086 | 424.812 | -1.4 | -2.5 | 0.4 | |
Recreation(2) | 139.950 | 141.088 | 140.427 | 1.9 | 0.3 | -0.5 | |
Education and communication(2) | 155.620 | 154.955 | 154.627 | 0.0 | -0.6 | -0.2 | |
Tuition, other school fees, and child care(5) | 1,420.287 | 1,414.154 | 1,410.737 | 2.6 | -0.7 | -0.2 | |
Other goods and services | 593.468 | 598.691 | 599.697 | 5.4 | 1.0 | 0.2 | |
Commodity and service group | |||||||
Commodities | 230.373 | 229.933 | 227.448 | 0.0 | -1.3 | -1.1 | |
Commodities less food and beverages | 181.083 | 179.821 | 176.693 | -2.0 | -2.4 | -1.7 | |
Nondurables less food and beverages | 235.428 | 233.246 | 226.699 | -2.6 | -3.7 | -2.8 | |
Durables | 122.274 | 121.772 | 121.256 | -1.4 | -0.8 | -0.4 | |
Services | 399.003 | 399.275 | 401.523 | 4.0 | 0.6 | 0.6 | |
Special aggregate indexes | |||||||
All items less shelter | 281.577 | 281.052 | 280.341 | 0.5 | -0.4 | -0.3 | |
All items less medical care | 305.855 | 306.133 | 305.975 | 3.2 | 0.0 | -0.1 | |
Commodities less food | 185.264 | 184.056 | 181.010 | -1.7 | -2.3 | -1.7 | |
Nondurables | 279.405 | 279.085 | 275.433 | 0.4 | -1.4 | -1.3 | |
Nondurables less food | 238.817 | 236.831 | 230.729 | -2.1 | -3.4 | -2.6 | |
Services less rent of shelter(1) | 392.569 | 391.875 | 394.910 | 1.2 | 0.6 | 0.8 | |
Services less medical care services | 385.015 | 386.008 | 388.271 | 5.2 | 0.8 | 0.6 | |
Energy | 284.786 | 278.447 | 278.696 | -7.8 | -2.1 | 0.1 | |
All items less energy | 323.269 | 323.738 | 323.663 | 3.4 | 0.1 | 0.0 | |
All items less food and energy | 324.736 | 324.997 | 325.031 | 3.5 | 0.1 | 0.0 | |
Footnotes |
Last Modified Date: Tuesday, December 12, 2023