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Tuesday, February 13, 2024
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were up 0.6 percent in January, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted this was the largest monthly increase in the Northeast all items index since January 2023 and followed three consecutive months of the index remaining unchanged. The rise was mainly due to an increase in the all items less food and energy index (up 0.6 percent). The food index and the energy index were also up over the month, 0.8 percent and 0.6 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 2.5 percent. (See chart 1.) The January 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 2.4 percent, mostly due to increased prices for food away from home. The energy index decreased 7.3 percent over the year. (See table 1.)
FoodIn January, the food index increased 0.8 percent over the month as the food at home index advanced 1.1 percent (similar to increases in both indexes in January 2023). (See table 1.) All grocery categories were up over the month. The 1.5-percent rise in prices for fruits and vegetables and the 1.3-percent increase in meats, poultry, fish, and eggs prices (the largest increase since May 2022) mainly drove the advance. The nonalcoholic beverages and beverage materials index was up 1.6 percent over the month, led by higher prices for carbonated drinks. The food away from home index rose 0.4 percent.
From January 2023 to January 2024, the food index increased 2.4 percent as the food away from home index advanced 5.1 percent (down slightly from a 5.3-percent rise in December). Prices for food at home were up 1.1 percent, led by nonalcoholic beverages and beverage materials (up 3.3 percent; the smallest increase since September 2021) and cereals and bakery products (up 2.7 percent). The other food at home index rose 1.0 percent (the smallest increase since June 2021) and fruits and vegetables were up 1.2 percent. Two grocery categories declined over the year—meats, poultry, fish, and eggs (down 0.7 percent) and dairy and related products (down 0.4 percent).
EnergyThe energy index increased 0.6 percent over the month, driven primarily by a 5.5-percent rise in the electricity index. The utility (piped) gas service index was up 1.6 percent. The increases were partially offset by a 3.5-percent decline in the gasoline index.
Over the year, energy prices were down 7.3 percent as all energy components declined. The January decrease was driven by lower prices for utility (piped) gas service (down 16.5 percent, slightly moderating from the 18.3-percent decline in December). The gasoline index was down 5.4 percent, fuel oil decreased, and electricity declined 2.2 percent.
All items less food and energyThe index for all items less food and energy was up 0.6 percent in January (the largest increase since February 2023), primarily due to an equivalent increase in the shelter index. Within shelter, a 0.4-percent rise in the owners’ equivalent rent of residences index led the increase. Prices for lodging away from home were also up and the rent of primary residence index rose 0.3 percent. The medical care index advanced 1.8 percent as medical care services rose by the same percentage, the largest increase in both indexes since they began in January 1987. A 2.2-percent increase in the apparel index also contributed to the overall all items less food and energy rise. Tempering the overall increase, new and used motor vehicle prices were down 0.4 percent as prices for used cars and trucks declined 3.8 percent. The recreation index also declined, down 0.8 percent (the largest decline in the index since January 2021).
Over the year, the index for all items less food and energy was up 3.5 percent, the same as it was in the prior two months. This was primarily due to the 6.2-percent increase in the shelter index, and within shelter, the same percentage increase in owners’ equivalent rent of residences. Rent of primary residence rose 5.7 percent (the smallest increase since November 2022) and lodging away from home increased as well. A 2.6-percent decline in the medical care index lessened the overall all items less food and energy index rise. Prices for medical care services led the medical care index decline as they were down 3.9 percent.
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 was up 0.7 percent. The CPI-U for the New England division rose 0.5 percent.
Over the year, the all items index rose 2.7 percent in the Middle Atlantic division and 2.0 percent in the New England division. (See table B.)
Month | 2020 | 2021 | 2022 | 2023 | 2024 | |||||
---|---|---|---|---|---|---|---|---|---|---|
1-month | 12-month | 1-month | 12-month | 1-month | 12-month | 1-month | 12-month | 1-month | 12-month | |
January | 0.7 | 2.3 | 0.4 | 1.1 | 0.8 | 6.3 | 0.7 | 6.0 | 0.6 | 2.5 |
February | 0.3 | 2.4 | 0.4 | 1.2 | 0.7 | 6.6 | 0.5 | 5.9 | ||
March | -0.2 | 1.7 | 0.6 | 2.1 | 1.3 | 7.3 | -0.2 | 4.3 | ||
April | -0.4 | 0.8 | 0.7 | 3.3 | 0.6 | 7.2 | 0.2 | 3.8 | ||
May | 0.0 | 0.6 | 0.6 | 3.9 | 0.9 | 7.5 | 0.1 | 3.1 | ||
June | 0.3 | 0.8 | 1.0 | 4.6 | 1.2 | 7.6 | 0.3 | 2.2 | ||
July | 0.4 | 1.1 | 0.2 | 4.3 | -0.2 | 7.3 | 0.2 | 2.6 | ||
August | 0.1 | 1.1 | 0.1 | 4.4 | 0.3 | 7.4 | 0.5 | 2.8 | ||
September | 0.1 | 1.2 | 0.3 | 4.6 | 0.1 | 7.2 | 0.3 | 3.0 | ||
October | -0.2 | 1.1 | 0.6 | 5.4 | 0.3 | 6.9 | 0.0 | 2.7 | ||
November | 0.1 | 1.1 | 0.6 | 6.0 | 0.1 | 6.4 | 0.0 | 2.5 | ||
December | 0.2 | 1.4 | 0.2 | 5.9 | -0.1 | 6.1 | 0.0 | 2.6 |
Area | 1-month change | 12-month change |
---|---|---|
Northeast | 0.6 | 2.5 |
New England Division | 0.5 | 2.0 |
Middle Atlantic Division | 0.7 | 2.7 |
The February 2024 Consumer Price Index for the Northeast Region is scheduled to be released on March 12, 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 | Nov. 2023 | Dec. 2023 | Jan. 2024 | Jan. 2023 | Nov. 2023 | Dec. 2023 | |
All items | 316.252 | 316.143 | 318.133 | 2.5 | 0.6 | 0.6 | |
All items (December 1977 = 100) | 498.000 | 497.828 | 500.963 | ||||
Food and beverages | 325.397 | 325.301 | 327.728 | 2.4 | 0.7 | 0.7 | |
Food | 327.572 | 327.483 | 330.070 | 2.4 | 0.8 | 0.8 | |
Food at home | 306.717 | 306.005 | 309.247 | 1.1 | 0.8 | 1.1 | |
Cereals and bakery products | 388.714 | 382.875 | 387.418 | 2.7 | -0.3 | 1.2 | |
Meats, poultry, fish, and eggs | 307.669 | 307.787 | 311.662 | -0.7 | 1.3 | 1.3 | |
Dairy and related products | 281.626 | 279.241 | 280.637 | -0.4 | -0.4 | 0.5 | |
Fruits and vegetables | 357.172 | 357.766 | 363.066 | 1.2 | 1.7 | 1.5 | |
Nonalcoholic beverages and beverage materials | 215.612 | 217.392 | 220.846 | 3.3 | 2.4 | 1.6 | |
Other food at home | 277.526 | 276.835 | 278.172 | 1.0 | 0.2 | 0.5 | |
Food away from home | 364.256 | 365.615 | 366.928 | 5.1 | 0.7 | 0.4 | |
Alcoholic beverages | 295.374 | 295.183 | 295.446 | 3.1 | 0.0 | 0.1 | |
Housing | 341.316 | 342.437 | 345.324 | 3.9 | 1.2 | 0.8 | |
Shelter | 419.375 | 422.128 | 424.528 | 6.2 | 1.2 | 0.6 | |
Rent of primary residence | 423.237 | 425.176 | 426.573 | 5.7 | 0.8 | 0.3 | |
Owners' equivalent rent of residences(1) | 435.554 | 437.360 | 439.046 | 6.2 | 0.8 | 0.4 | |
Owners' equivalent rent of primary residence(1) | 435.143 | 436.925 | 438.611 | 6.2 | 0.8 | 0.4 | |
Fuels and utilities | 294.997 | 290.304 | 299.492 | -6.2 | 1.5 | 3.2 | |
Household energy | 263.481 | 258.519 | 268.337 | -7.8 | 1.8 | 3.8 | |
Energy services | 255.200 | 252.083 | 262.967 | -7.0 | 3.0 | 4.3 | |
Electricity | 263.322 | 260.114 | 274.352 | -2.2 | 4.2 | 5.5 | |
Utility (piped) gas service | 221.491 | 218.772 | 222.316 | -16.5 | 0.4 | 1.6 | |
Household furnishings and operations | 142.503 | 142.213 | 143.500 | -0.8 | 0.7 | 0.9 | |
Apparel | 128.189 | 127.171 | 130.013 | -2.1 | 1.4 | 2.2 | |
Transportation | 261.067 | 257.472 | 256.583 | 2.7 | -1.7 | -0.3 | |
Private transportation | 259.919 | 256.584 | 255.959 | 3.1 | -1.5 | -0.2 | |
New and used motor vehicles(2) | 126.799 | 124.402 | 123.947 | 0.4 | -2.2 | -0.4 | |
New vehicles | 175.000 | 174.597 | 174.821 | 1.5 | -0.1 | 0.1 | |
New cars(3) | 165.466 | 164.646 | 165.225 | 0.8 | -0.1 | 0.4 | |
Used cars and trucks | 198.124 | 198.313 | 190.773 | -2.8 | -3.7 | -3.8 | |
Motor fuel | 299.039 | 285.602 | 275.692 | -5.6 | -7.8 | -3.5 | |
Gasoline (all types) | 298.096 | 284.588 | 274.708 | -5.4 | -7.8 | -3.5 | |
Gasoline, unleaded regular(3) | 292.560 | 278.749 | 268.749 | -5.8 | -8.1 | -3.6 | |
328.683 | 316.069 | 305.778 | -3.8 | -7.0 | -3.3 | ||
Gasoline, unleaded premium(3) | 324.423 | 313.370 | 304.373 | -3.1 | -6.2 | -2.9 | |
Medical care | 550.861 | 551.897 | 561.852 | -2.6 | 2.0 | 1.8 | |
Medical care commodities | 403.345 | 404.924 | 412.457 | 4.0 | 2.3 | 1.9 | |
Medical care services | 594.027 | 594.896 | 605.554 | -3.9 | 1.9 | 1.8 | |
Professional services | 424.812 | 424.875 | 428.919 | -0.7 | 1.0 | 1.0 | |
Recreation(2) | 140.427 | 141.161 | 140.023 | 1.5 | -0.3 | -0.8 | |
Education and communication(2) | 154.627 | 154.568 | 155.018 | 0.2 | 0.3 | 0.3 | |
Tuition, other school fees, and child care(5) | 1,410.737 | 1,410.104 | 1,409.045 | 2.2 | -0.1 | -0.1 | |
Other goods and services | 599.697 | 599.255 | 602.977 | 6.0 | 0.5 | 0.6 | |
Commodity and service group | |||||||
Commodities | 227.448 | 225.941 | 226.532 | 0.0 | -0.4 | 0.3 | |
Commodities less food and beverages | 176.693 | 174.684 | 174.501 | -1.8 | -1.2 | -0.1 | |
Nondurables less food and beverages | 226.699 | 223.166 | 223.281 | -1.7 | -1.5 | 0.1 | |
Durables | 121.256 | 120.492 | 120.145 | -1.9 | -0.9 | -0.3 | |
Services | 401.523 | 402.731 | 406.062 | 3.9 | 1.1 | 0.8 | |
Special aggregate indexes | |||||||
All items less shelter | 280.341 | 279.140 | 280.996 | 0.5 | 0.2 | 0.7 | |
All items less medical care | 305.975 | 305.814 | 307.449 | 3.0 | 0.5 | 0.5 | |
Commodities less food | 181.010 | 179.038 | 178.867 | -1.6 | -1.2 | -0.1 | |
Nondurables | 275.433 | 273.576 | 274.825 | 0.7 | -0.2 | 0.5 | |
Nondurables less food | 230.729 | 227.405 | 227.529 | -1.3 | -1.4 | 0.1 | |
Services less rent of shelter(1) | 394.910 | 394.345 | 398.991 | 1.2 | 1.0 | 1.2 | |
Services less medical care services | 388.271 | 389.504 | 392.334 | 4.8 | 1.0 | 0.7 | |
Energy | 278.696 | 270.482 | 272.000 | -7.3 | -2.4 | 0.6 | |
All items less energy | 323.663 | 324.256 | 326.312 | 3.3 | 0.8 | 0.6 | |
All items less food and energy | 325.031 | 325.747 | 327.723 | 3.5 | 0.8 | 0.6 | |
Footnotes |
Last Modified Date: Tuesday, February 13, 2024