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Wednesday, April 10, 2024
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were up 0.7 percent in March, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Alexandra Hall Bovee noted that the rise was mainly due to a 0.7 percent increase in the all items less food and energy index, driven by higher shelter and medical care prices. The energy index also rose, up 1.3 percent over the month. The index for food was unchanged over the month. (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 3.4 percent, up from 2.4 percent in February. (See chart 1.) The March advance was primarily due to a 4.0-percent rise in the all items less food and energy index (which has been above the all items index since March 2023). The food index rose 1.9 percent, mainly due to increased prices for food away from home. The energy index decreased 0.7 percent over the year. (See table 1.)
FoodIn March, the food index was unchanged over the month as the food away from home index rose 0.2 percent and the food at home index declined 0.1 percent. (See table 1.) The indexes that contributed to the food at home decline were fruits and vegetables (down 1.8 percent—the largest decrease in the index since last March), dairy and related products (down 1.3 percent), and cereals and bakery products (down 0.7 percent). These were tempered by increases in the nonalcoholic beverages and beverage materials index (up 2.3 percent), the meats, poultry, fish, and eggs index (up 0.6 percent), and the other food at home index (up 0.1 percent).
From March 2023 to March 2024, the food index increased 1.9 percent as the food away from home index advanced 4.6 percent (the smallest increase since August 2021). Prices for food at home were up 0.5 percent, led by a 4.7-percent increase in the index for nonalcoholic beverages and beverage materials. Two indexes declined and offset some of the rise: meats, poultry, fish, and eggs (down 0.3 percent) and dairy and related products (down 2.4 percent, down further from February’s 1.5-percent decline).
EnergyThe energy index increased 1.3 percent over the month, driven primarily by a 2.5-percent rise in the gasoline index. Prices for electricity also rose, up 1.6 percent. The utility (piped) gas service index (down 0.7 percent) and the fuel oil index both declined.
Over the year, energy prices were down 0.7 percent, moderating from February’s 5.2-percent decline. The March decrease was driven by lower prices for utility (piped) gas service (down 6.4 percent, the first single-digit decrease since May 2023). The gasoline index was down 0.1 percent, and fuel oil prices also declined. Prices for electricity were up 2.4 percent over the year, rising after three consecutive months of declines.
All items less food and energyThe index for all items less food and energy was up 0.7 percent in March, led by an equivalent rise in the shelter index. Within shelter, the owners’ equivalent rent of residences index was up 0.4 percent and lodging away from home index prices rose as well. Prices for medical care were up 1.9 percent over the month, mainly due to a 2.1-percent increase in prices for medical care services. The index for apparel rose 2.7 percent.
Over the year, the index for all items less food and energy was up 4.0 percent. This was mostly due to a 5.9-percent rise in the shelter index. Within shelter, the owners’ equivalent rent of residences index was up 6.1 percent and the rent of primary residence index increased 5.5 percent. The medical care index was up 2.2 percent after 12 consecutive months of declines. Also contributing to the overall index increase was the recreation index (up 2.5 percent) and other goods and services (up 4.1 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 New England division was up 1.0 percent. The CPI-U for the Middle Atlantic division rose 0.6 percent.
Over the year, the all items index rose 3.5 percent in the Middle Atlantic division and 3.1 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 | 0.5 | 2.4 |
March |
-0.2 | 1.7 | 0.6 | 2.1 | 1.3 | 7.3 | -0.2 | 4.3 | 0.7 | 3.4 |
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 |
0.7 | 3.4 |
New England Division |
1.0 | 3.1 |
Middle Atlantic Division |
0.6 | 3.5 |
The April 2024 Consumer Price Index for the Northeast Region is scheduled to be released on May 15, 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 |
Jan. 2024 |
Feb. 2024 |
Mar. 2024 |
Mar. 2023 |
Jan. 2024 |
Feb. 2024 |
|
All items |
318.133 | 319.577 | 321.741 | 3.4 | 1.1 | 0.7 | |
All items (December 1977 = 100) |
500.963 | 503.237 | 506.645 | ||||
Food and beverages |
327.728 | 327.137 | 327.161 | 1.8 | -0.2 | 0.0 | |
Food |
330.070 | 329.662 | 329.700 | 1.9 | -0.1 | 0.0 | |
Food at home |
309.247 | 308.361 | 307.985 | 0.5 | -0.4 | -0.1 | |
Cereals and bakery products |
387.418 | 387.709 | 385.043 | 0.6 | -0.6 | -0.7 | |
Meats, poultry, fish, and eggs |
311.662 | 308.753 | 310.715 | -0.3 | -0.3 | 0.6 | |
Dairy and related products |
280.637 | 277.943 | 274.334 | -2.4 | -2.2 | -1.3 | |
Fruits and vegetables |
363.066 | 360.819 | 354.327 | 0.8 | -2.4 | -1.8 | |
Nonalcoholic beverages and beverage materials |
220.846 | 221.102 | 226.084 | 4.7 | 2.4 | 2.3 | |
Other food at home |
278.172 | 279.156 | 279.385 | 0.1 | 0.4 | 0.1 | |
Food away from home |
366.928 | 367.438 | 368.267 | 4.6 | 0.4 | 0.2 | |
Alcoholic beverages |
295.446 | 292.405 | 292.242 | 1.3 | -1.1 | -0.1 | |
Housing |
345.324 | 346.555 | 348.586 | 4.6 | 0.9 | 0.6 | |
Shelter |
424.528 | 425.974 | 428.807 | 5.9 | 1.0 | 0.7 | |
Rent of primary residence |
426.573 | 428.770 | 430.137 | 5.5 | 0.8 | 0.3 | |
Owners' equivalent rent of residences(1) |
439.046 | 441.139 | 443.041 | 6.1 | 0.9 | 0.4 | |
Owners' equivalent rent of primary residence(1) |
438.611 | 440.700 | 442.589 | 6.1 | 0.9 | 0.4 | |
Fuels and utilities |
299.492 | 299.600 | 301.048 | -0.1 | 0.5 | 0.5 | |
Household energy |
268.337 | 268.062 | 269.460 | -0.6 | 0.4 | 0.5 | |
Energy services |
262.967 | 261.801 | 264.152 | -0.4 | 0.5 | 0.9 | |
Electricity |
274.352 | 272.024 | 276.287 | 2.4 | 0.7 | 1.6 | |
Utility (piped) gas service |
222.316 | 223.513 | 221.949 | -6.4 | -0.2 | -0.7 | |
Household furnishings and operations |
143.500 | 144.672 | 144.696 | -0.1 | 0.8 | 0.0 | |
Apparel |
130.013 | 133.770 | 137.397 | -0.4 | 5.7 | 2.7 | |
Transportation |
256.583 | 258.911 | 261.965 | 4.0 | 2.1 | 1.2 | |
Private transportation |
255.959 | 257.930 | 260.322 | 4.4 | 1.7 | 0.9 | |
New and used motor vehicles(2) |
123.947 | 124.644 | 125.142 | 0.4 | 1.0 | 0.4 | |
New vehicles |
174.821 | 174.890 | 174.742 | 0.7 | 0.0 | -0.1 | |
New cars(3) |
165.225 | 164.792 | 164.540 | -0.3 | -0.4 | -0.2 | |
Used cars and trucks |
190.773 | 191.771 | 192.925 | -1.0 | 1.1 | 0.6 | |
Motor fuel |
275.692 | 280.019 | 286.761 | -0.3 | 4.0 | 2.4 | |
Gasoline (all types) |
274.708 | 279.095 | 285.969 | -0.1 | 4.1 | 2.5 | |
Gasoline, unleaded regular(3) |
268.749 | 273.415 | 280.617 | -0.2 | 4.4 | 2.6 | |
305.778 | 308.449 | 314.144 | 0.4 | 2.7 | 1.8 | ||
Gasoline, unleaded premium(3) |
304.373 | 307.156 | 312.090 | 0.8 | 2.5 | 1.6 | |
Medical care |
561.852 | 562.889 | 573.512 | 2.2 | 2.1 | 1.9 | |
Medical care commodities |
412.457 | 412.870 | 415.865 | 4.7 | 0.8 | 0.7 | |
Medical care services |
605.554 | 606.782 | 619.757 | 1.7 | 2.3 | 2.1 | |
Professional services |
428.919 | 428.869 | 428.332 | -0.6 | -0.1 | -0.1 | |
Recreation(2) |
140.023 | 141.310 | 141.669 | 2.5 | 1.2 | 0.3 | |
Education and communication(2) |
155.018 | 155.401 | 155.399 | 0.4 | 0.2 | 0.0 | |
Tuition, other school fees, and child care(5) |
1,409.045 | 1,410.151 | 1,410.245 | 2.2 | 0.1 | 0.0 | |
Other goods and services |
602.977 | 608.833 | 610.058 | 4.1 | 1.2 | 0.2 | |
Commodity and service group |
|||||||
Commodities |
226.532 | 227.473 | 228.379 | 0.5 | 0.8 | 0.4 | |
Commodities less food and beverages |
174.501 | 176.018 | 177.238 | -0.5 | 1.6 | 0.7 | |
Nondurables less food and beverages |
223.281 | 226.697 | 229.285 | 0.9 | 2.7 | 1.1 | |
Durables |
120.145 | 120.252 | 120.441 | -2.1 | 0.2 | 0.2 | |
Services |
406.062 | 407.988 | 411.357 | 5.0 | 1.3 | 0.8 | |
Special aggregate indexes |
|||||||
All items less shelter |
280.996 | 282.454 | 284.386 | 2.0 | 1.2 | 0.7 | |
All items less medical care |
307.449 | 308.913 | 310.700 | 3.5 | 1.1 | 0.6 | |
Commodities less food |
178.867 | 180.268 | 181.457 | -0.4 | 1.4 | 0.7 | |
Nondurables |
274.825 | 276.282 | 277.617 | 1.4 | 1.0 | 0.5 | |
Nondurables less food |
227.529 | 230.540 | 232.953 | 0.9 | 2.4 | 1.0 | |
Services less rent of shelter(1) |
398.991 | 401.467 | 405.547 | 3.8 | 1.6 | 1.0 | |
Services less medical care services |
392.334 | 394.307 | 397.019 | 5.3 | 1.2 | 0.7 | |
Energy |
272.000 | 273.665 | 277.320 | -0.7 | 2.0 | 1.3 | |
All items less energy |
326.312 | 327.759 | 329.836 | 3.7 | 1.1 | 0.6 | |
All items less food and energy |
327.723 | 329.505 | 331.953 | 4.0 | 1.3 | 0.7 | |
Footnotes |
Last Modified Date: Wednesday, April 10, 2024