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News Release Information

24-309-PHI
Tuesday, February 13, 2024

Contacts Technical information: Media contact:

Consumer Price Index, Northeast Region – January 2024

Area prices were up 0.6 percent over the past month, up 2.5 percent from a year ago

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.) 

Food

In 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).

Energy

The 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 energy

The 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 divisions

Additional 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.)

Table A. Northeast region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
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
Table B. CPI-U 1-month and 12-month percent changes, all items index, Northeast region and divisions, not seasonally adjusted
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.


Technical Note

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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Northeast Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
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

Gasoline, unleaded midgrade(3)(4)

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
(1) Indexes on a December 1982=100 base.
(2) Indexes on a December 1997=100 base.
(3) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1977=100 base.

 

Last Modified Date: Tuesday, February 13, 2024