The Consumer Price Index for All Urban Consumers (CPI-U) for Philadelphia-Camden-Wilmington was unchanged from October to December, the U.S. Bureau of Labor Statistics reported today. Acting Regional Commissioner Frank Waligorski noted that rises in both the energy index (3.7 percent) and the food index (0.9 percent) were offset by a decline in the all items less food and energy index, down 0.4 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 CPI-U rose 1.1 percent. (See chart 1 and table A.) The over-the-year rise was due to increases in the all items less food and energy index (0.9 percent) and the food index (4.2 percent). The energy index declined since December 2019, down 3.3 percent. (See table 1.)

Food

The food index increased 0.9 percent over the last 2 months. Prices for food away from home increased 1.2 percent since October, and those for food at home rose 0.7 percent. Within the food at home component, prices were higher for items such as breakfast cereal and milk, while prices were lower for chicken and other uncooked poultry including turkey.

Over the year, the food index increased 4.2 percent. Prices for food away from home rose 5.4 percent, and those for food at home were up 3.2 percent.

Energy

The energy index, which includes prices for household and transportation fuels, increased 3.7 percent since October. The 2-month increase was due to a 5.2-percent rise in gasoline prices. Prices were also higher for electricity (1.2 percent), while those for utility (piped) gas service decreased 0.2 percent since October.

Over the year, the energy index decreased 3.3 percent, led by a decline in gasoline prices, down 2.8 percent. Prices were also lower for utility (piped) gas service and electricity, down 2.4 and 0.3 percent, respectively.

All items less food and energy

The index for all items less food and energy declined 0.4 percent from October to December. Lower prices for new and used motor vehicles (-3.2 percent) and shelter (-0.5 percent), among others, were moderated by higher prices for household furnishings and operations (5.7 percent) and other goods and services (1.4 percent).

Since December 2019, the index for all items less food and energy rose 0.9 percent. Prices were higher for household furnishings and operations (9.5 percent) and shelter (1.4 percent), among others.

Table A. Philadelphia CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted

Month	2016		2017		2018		2019		2020
	2-month	12-month	2-month	12-month	2-month	12-month	2-month	12-month	2-month	12-month
February	0.3	0.3	0.7	2.1	0.4	0.5	0.8	1.5	1.0	2.6
April	0.9	0.6	0.0	1.3	0.9	1.4	1.3	1.9	-1.3	-0.1
June	0.3	0.1	-0.3	0.7	0.2	1.9	0.5	2.1	0.6	0.1
August	-0.2	0.4	0.5	1.4	0.3	1.7	0.5	2.3	0.8	0.4
October	0.6	1.3	0.0	0.8	0.0	1.6	-0.4	1.9	0.0	0.8
December	-0.1	1.7	-0.1	0.8	-0.7	1.0	-0.3	2.4	0.0	1.1

The Consumer Price Index for February 2021 is scheduled to be released Wednesday, March 10, 2021 at 8:30 am (ET).

Technical Note

The Consumer Price Index for Philadelphia-Camden-Wilmington is published bi-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 population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total 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, and 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 5,000 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 (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. This change can also be expressed in dollars as follows: the price of a base period "market basket" of goods and services in the CPI has risen from $10 in 1982-84 to $11.65. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at www.bls.gov/opub/hom/pdf/homch17.pdf.

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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, Core Based Statistical Area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Burlington, Camden, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.

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