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Thursday, July 11, 2024
Prices in the Northeast Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were up 0.3 percent in June, 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 the all items less food and energy index (up 0.3 percent), and within that, a 0.6-percent rise in prices for shelter. The food index was up 0.2 percent while the energy index rose 0.1 percent 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 3.8 percent. (See chart 1.) The June rise was primarily due to a 4.3-percent rise in the all items less food and energy index (which has been higher than the all items index since March 2023). The food index rose 2.2 percent and the energy index increased 2.0 percent over the year. (See table 1.)
FoodIn June, the food index was up 0.2 percent over the month, mainly driven by a 0.4-percent increase in prices for food away from home. (See table 1.) The food at home index was up 0.1 percent, bolstered by increases in the other food at home index (up 0.5 percent) and the meats, poultry, fish, and eggs index (up 0.6 percent). The index increase was tempered by declines in the fruits and vegetables index (down 1.6 percent) and the nonalcoholic beverages and beverage materials index (down 0.3 percent).
From June 2023 to June 2024, the food index increased 2.2 percent as the food away from home index advanced 4.8 percent. Prices for food at home were up 0.8 percent as the meats, poultry, fish, and eggs index rose 2.8 percent (the greatest increase since April 2023). The nonalcoholic beverages and beverage materials index (up 2.1 percent, the smallest increase since July 2021), other food at home index (up 1.0 percent), and cereals and bakery products index (up 0.7 percent) also contributed to the increase. Two indexes declined, fruits and vegetables (down 1.7 percent) and dairy and related products (down 0.5 percent).
EnergyThe energy index increased 0.1 percent over the month, predominantly due to a 3.9-percent increase in prices for electricity. Electricity prices have risen in June nearly every year since the index began in 1978. The utility (piped) gas index also rose, up 1.3 percent. The gasoline index declined 2.6 percent (after four consecutive months of increases) and the fuel oil index was also down in June.
Over the year, energy prices were up 2.0 percent as the electricity index was up 4.0 percent, the utility (piped) gas service index rose 3.3 percent (up after 14 consecutive months of declines), and the fuel oil index also increased. The gasoline index decreased 0.8 percent.
All items less food and energyThe index for all items less food and energy was up 0.3 percent in June, led by a 0.6-percent rise in the shelter index and within shelter, the owners’ equivalent rent of residences index (up 0.4 percent). The rent of primary residence index was up 0.5 percent and lodging away from home prices also rose. Prices for household furnishings and operations increased 1.1 percent over the month. The recreation index rose 0.7 percent. Some indexes declined and moderated the overall increase, including the new and used motor vehicles index (down 0.7 percent).
Over the year, the index for all items less food and energy was up 4.3 percent (the same as last month), mainly due to a 6.5-percent increase in the shelter index and a 6.7-percent rise in the owners’ equivalent rent of residences index. The rent of primary residence index increased 5.7 percent. The medical care index rose 3.5 percent as prices for medical care services were up 3.1 percent and prices for medical care commodities were up 5.9 percent. A 2.9-percent decline in the new and used motor vehicles index was spurred by a 9.1-percent decrease in prices for used cars and trucks.
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 0.3 percent. The CPI-U for the Middle Atlantic division rose 0.2 percent.
Over the year, the all items index rose 3.8 percent in the Middle Atlantic division and 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 | 0.4 | 3.6 |
May | 0.0 | 0.6 | 0.6 | 3.9 | 0.9 | 7.5 | 0.1 | 3.1 | 0.4 | 3.9 |
June | 0.3 | 0.8 | 1.0 | 4.6 | 1.2 | 7.6 | 0.3 | 2.2 | 0.3 | 3.8 |
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 | 0.3 | 3.8 |
New England Division | 0.3 | 3.8 |
Middle Atlantic Division | 0.2 | 3.8 |
The July 2024 Consumer Price Index for the Northeast Region is scheduled to be released on August 14, 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 | Apr. 2024 | May 2024 | Jun. 2024 | Jun. 2023 | Apr. 2024 | May 2024 | |
All items | 323.035 | 324.439 | 325.271 | 3.8 | 0.7 | 0.3 | |
All items (December 1977 = 100) | 508.682 | 510.892 | 512.202 | ||||
Food and beverages | 328.442 | 328.156 | 329.007 | 2.1 | 0.2 | 0.3 | |
Food | 331.143 | 330.775 | 331.469 | 2.2 | 0.1 | 0.2 | |
Food at home | 309.571 | 307.711 | 307.891 | 0.8 | -0.5 | 0.1 | |
Cereals and bakery products | 389.766 | 384.960 | 386.874 | 0.7 | -0.7 | 0.5 | |
Meats, poultry, fish, and eggs | 313.236 | 311.825 | 313.613 | 2.8 | 0.1 | 0.6 | |
Dairy and related products | 276.738 | 274.567 | 276.169 | -0.5 | -0.2 | 0.6 | |
Fruits and vegetables | 356.219 | 353.598 | 347.943 | -1.7 | -2.3 | -1.6 | |
Nonalcoholic beverages and beverage materials | 221.439 | 221.756 | 221.119 | 2.1 | -0.1 | -0.3 | |
Other food at home | 282.218 | 280.595 | 282.135 | 1.0 | 0.0 | 0.5 | |
Food away from home | 369.423 | 371.911 | 373.582 | 4.8 | 1.1 | 0.4 | |
Alcoholic beverages | 291.361 | 292.155 | 295.121 | 0.6 | 1.3 | 1.0 | |
Housing | 349.128 | 351.041 | 353.688 | 5.7 | 1.3 | 0.8 | |
Shelter | 430.231 | 433.995 | 436.491 | 6.5 | 1.5 | 0.6 | |
Rent of primary residence | 431.822 | 433.802 | 436.003 | 5.7 | 1.0 | 0.5 | |
Owners' equivalent rent of residences(1) | 445.161 | 449.915 | 451.832 | 6.7 | 1.5 | 0.4 | |
Owners' equivalent rent of primary residence(1) | 444.709 | 449.465 | 451.377 | 6.7 | 1.5 | 0.4 | |
Fuels and utilities | 296.553 | 292.793 | 298.760 | 3.6 | 0.7 | 2.0 | |
Household energy | 264.545 | 260.512 | 266.665 | 3.8 | 0.8 | 2.4 | |
Energy services | 259.200 | 256.681 | 264.900 | 4.0 | 2.2 | 3.2 | |
Electricity | 271.038 | 271.782 | 282.480 | 4.0 | 4.2 | 3.9 | |
Utility (piped) gas service | 217.923 | 209.180 | 211.964 | 3.3 | -2.7 | 1.3 | |
Household furnishings and operations | 145.132 | 144.468 | 145.986 | 1.7 | 0.6 | 1.1 | |
Apparel | 135.494 | 134.425 | 134.081 | 0.1 | -1.0 | -0.3 | |
Transportation | 267.790 | 269.628 | 267.276 | 2.7 | -0.2 | -0.9 | |
Private transportation | 265.932 | 268.333 | 266.037 | 3.0 | 0.0 | -0.9 | |
New and used motor vehicles(2) | 125.251 | 125.437 | 124.559 | -2.9 | -0.6 | -0.7 | |
New vehicles | 174.973 | 174.923 | 174.977 | 0.1 | 0.0 | 0.0 | |
New cars(3) | 164.580 | 164.835 | 164.957 | -0.5 | 0.2 | 0.1 | |
Used cars and trucks | 192.122 | 192.759 | 193.788 | -9.1 | 0.9 | 0.5 | |
Motor fuel | 302.214 | 310.281 | 302.221 | -0.8 | 0.0 | -2.6 | |
Gasoline (all types) | 301.658 | 309.881 | 301.867 | -0.8 | 0.1 | -2.6 | |
Gasoline, unleaded regular(3) | 296.679 | 304.903 | 296.618 | -1.0 | 0.0 | -2.7 | |
328.534 | 337.743 | 330.810 | 0.5 | 0.7 | -2.1 | ||
Gasoline, unleaded premium(3) | 325.528 | 333.583 | 327.141 | 1.0 | 0.5 | -1.9 | |
Medical care | 572.201 | 578.443 | 578.651 | 3.5 | 1.1 | 0.0 | |
Medical care commodities | 416.845 | 424.118 | 425.037 | 5.9 | 2.0 | 0.2 | |
Medical care services | 617.727 | 623.600 | 623.580 | 3.1 | 0.9 | 0.0 | |
Professional services | 425.509 | 425.472 | 425.588 | -1.2 | 0.0 | 0.0 | |
Recreation(2) | 141.671 | 142.716 | 143.728 | 2.8 | 1.5 | 0.7 | |
Education and communication(2) | 155.405 | 155.592 | 155.197 | 0.7 | -0.1 | -0.3 | |
Tuition, other school fees, and child care(5) | 1,410.503 | 1,413.099 | 1,414.764 | 2.2 | 0.3 | 0.1 | |
Other goods and services | 609.924 | 608.155 | 607.588 | 2.4 | -0.4 | -0.1 | |
Commodity and service group | |||||||
Commodities | 229.362 | 229.520 | 229.461 | 0.5 | 0.0 | 0.0 | |
Commodities less food and beverages | 178.052 | 178.383 | 177.957 | -0.7 | -0.1 | -0.2 | |
Nondurables less food and beverages | 231.110 | 231.943 | 230.342 | 1.0 | -0.3 | -0.7 | |
Durables | 120.504 | 120.472 | 120.849 | -2.8 | 0.3 | 0.3 | |
Services | 412.950 | 415.545 | 417.230 | 5.7 | 1.0 | 0.4 | |
Special aggregate indexes | |||||||
All items less shelter | 285.643 | 286.166 | 286.376 | 2.3 | 0.3 | 0.1 | |
All items less medical care | 312.111 | 313.299 | 314.159 | 3.8 | 0.7 | 0.3 | |
Commodities less food | 182.229 | 182.575 | 182.239 | -0.7 | 0.0 | -0.2 | |
Nondurables | 279.178 | 279.463 | 279.062 | 1.6 | 0.0 | -0.1 | |
Nondurables less food | 234.607 | 235.437 | 234.122 | 0.9 | -0.2 | -0.6 | |
Services less rent of shelter(1) | 407.395 | 408.706 | 409.225 | 4.6 | 0.4 | 0.1 | |
Services less medical care services | 398.859 | 401.230 | 403.031 | 5.9 | 1.0 | 0.4 | |
Energy | 280.986 | 282.049 | 282.219 | 2.0 | 0.4 | 0.1 | |
All items less energy | 330.960 | 332.411 | 333.307 | 4.0 | 0.7 | 0.3 | |
All items less food and energy | 333.029 | 334.808 | 335.745 | 4.3 | 0.8 | 0.3 | |
Footnotes |
Last Modified Date: Thursday, July 11, 2024