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Wednesday, November 13, 2024
Prices in the Philadelphia-Camden-Wilmington area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.2 percent for the 2 months ending in October, the U.S. Bureau of Labor Statistics reported today. (See table A). Regional Commissioner Alexandra Hall Bovee noted that October’s rise was due to an increase in the all items less food and energy index (0.4 percent) influenced by higher prices for education and communication and shelter. The food index was up 0.5 percent, and the energy index declined 3.7 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 increased 3.4 percent, led by the index for all items less food and energy, up 4.0 percent largely due to rising shelter prices. (See chart 1 and table A.) Food prices also rose, up 3.4 percent. The energy index decreased 4.0 percent, in part due to lower prices for gasoline. (See table 1).
FoodIn the two months ending in October, the food index advanced, mostly due to the food at home index, as both rose 0.5 percent. Leading the rise in grocery prices were fruits and vegetables, up 3.9 percent; and meats, poultry, fish, and eggs, up 0.7 percent. Tempering the grocery index were decreased prices for cereals and bakery products, down 3.1 percent. For the same period, prices for food away from home increased 0.6 percent.
Over the year, food prices rose 3.4 percent as prices for food at home were up 3.0 percent. Mainly contributing to the increase for food at home was the meats, poultry, fish, and eggs index, up 5.9 percent. Prices also rose for nonalcoholic beverages and beverage materials, up 6.8 percent. Declining prices for cereals and bakery products (-2.5 percent) slightly tempered the rise in the grocery index. Prices for food away from home increased 4.1 percent.
EnergyThe energy index decreased 3.7 percent for the 2 months ending in October. The decrease was mainly due to lower prices in the gasoline index (-7.6 percent). For the same period, the electricity index declined 1.8 percent, the largest 2-month decrease in 2024 so far, and prices for utility (piped) gas service fell 0.8 percent. Fuel oil prices rose.
From October 2023 to October 2024, energy prices declined 4.0 percent, led by a lower gasoline index (-13.5 percent) and declining prices for fuel oil. Prices for natural gas decreased 0.4 percent, the smallest over-the-year decrease since February 2021. Slowing the overall energy index decline, prices for electricity advanced 7.7 percent over the year.
All items less food and energyThe index for all items less food and energy increased 0.4 percent in the latest 2-month period. The rise was led by higher prices for education and communication up, 1.9 percent, mainly due to a 3.3-percent rise in prices for tuition, other school fees, and childcare. Shelter rose 0.1 percent, and within the shelter index, the owners’ equivalent rent of residences index and the rent of primary residence index increased 1.1 percent and 0.9 percent, respectively; whereas prices for lodging away from home fell. Other increases in the all items less food and energy index included recreation (0.7 percent), and alcoholic beverages (0.9 percent). Prices for medical care remained unchanged, as prices for medical care commodities and medical care services nearly offset each other. Mitigating the overall rise were lower prices for household furnishings and operations (-1.5 percent), apparel (-1.1 percent), other goods and services (-0.3 percent), and new and used motor vehicles (-0.2 percent).
During the past year, the index for all items less food and energy advanced 4.0 percent as seen in over-the-year increases for June and August. The advance was primarily driven by a 5.1-percent increase in the shelter index. Within shelter the indexes for rent of primary residence and owners’ equivalent rent of residences both increased 5.9 percent, while lodging away from home decreased. The recreation index rose 5.2 percent over the year, and the medical care index was up 2.0 percent for the same period. Other categories also had increases— prices for other goods and services were up 2.4 percent, and prices for education and communication advanced 1.4 percent. Slightly offsetting the overall index increase was a decrease in prices for household furnishings and operations, down 1.3 percent, and the first 12-month decrease since August 2020. The new and used motor vehicles index was down 0.7 percent for the same period, with prices for used cars and trucks continuing to decline as it has for every published month since December 2022 (-2.2 percent).
The December 2024 Consumer Price Index for the Philadelphia-Camden-Wilmington area is scheduled to be released on January 15, 2025.
With the publication of January 2025 data in February 2025, several indexes and average price series will be discontinued.
The following CPI indexes will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:
The following CPI average price series will continue to be published at the national level, but will be discontinued for all metropolitan areas, census divisions, and regional size classes:
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 Consumer Price Index for Philadelphia-Camden-Wilmington is published bi-monthly. The set of components and sub-aggregates published for regional and metropolitan indexes is more limited than at the U.S. city average level; these indexes are byproducts of the national CPI program. Each local index has a much smaller sample size than the national or regional indexes and is, therefore, subject to substantially more sampling and other measurement error. As a result, local-area indexes are more volatile than the national or regional indexes. In addition, local indexes are not adjusted for seasonal influences. 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, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.
Refer to the national CPI news release technical note or the Handbook of Methods for more information.
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 |
Aug. 2024 |
Sep. 2024 |
Oct. 2024 |
Oct. 2023 |
Aug. 2024 |
Sep. 2024 |
|
All items |
316.061 | 316.617 | 3.4 | 0.2 | |||
All items (1967 = 100) |
913.084 | 914.688 | |||||
Food and beverages |
303.494 | 305.216 | 3.3 | 0.6 | |||
Food |
306.539 | 308.216 | 3.4 | 0.5 | |||
Food at home |
310.453 | 312.231 | 312.062 | 3.0 | 0.5 | -0.1 | |
Cereals and bakery products |
420.999 | 400.348 | 407.787 | -2.5 | -3.1 | 1.9 | |
Meats, poultry, fish, and eggs |
349.195 | 349.699 | 351.756 | 5.9 | 0.7 | 0.6 | |
Dairy and related products |
242.061 | 240.974 | 242.578 | 1.7 | 0.2 | 0.7 | |
Fruits and vegetables |
299.330 | 306.843 | 310.888 | 3.2 | 3.9 | 1.3 | |
Nonalcoholic beverages and beverage materials(1) |
219.866 | 229.371 | 218.853 | 6.8 | -0.5 | -4.6 | |
Other food at home |
295.640 | 298.101 | 296.911 | 1.6 | 0.4 | -0.4 | |
Food away from home |
292.647 | 294.378 | 4.1 | 0.6 | |||
Alcoholic beverages |
257.672 | 259.937 | 1.3 | 0.9 | |||
Housing |
339.789 | 339.800 | 4.3 | 0.0 | |||
Shelter |
421.492 | 421.051 | 422.024 | 5.1 | 0.1 | 0.2 | |
Rent of primary residence |
395.714 | 396.659 | 399.112 | 5.9 | 0.9 | 0.6 | |
Owners' equivalent rent of residences(2) |
431.781 | 434.976 | 436.741 | 5.9 | 1.1 | 0.4 | |
Owners' equivalent rent of primary residence(2) |
431.781 | 434.976 | 436.741 | 5.9 | 1.1 | 0.4 | |
Fuels and utilities |
276.957 | 278.431 | 3.9 | 0.5 | |||
Household energy |
229.807 | 227.518 | 227.563 | 3.2 | -1.0 | 0.0 | |
Energy services |
243.867 | 242.523 | 240.138 | 5.5 | -1.5 | -1.0 | |
Electricity |
249.390 | 248.197 | 245.014 | 7.7 | -1.8 | -1.3 | |
Utility (piped) gas service |
211.750 | 210.103 | 209.996 | -0.4 | -0.8 | -0.1 | |
Household furnishings and operations |
145.874 | 143.663 | -1.3 | -1.5 | |||
Apparel |
112.912 | 111.690 | -0.7 | -1.1 | |||
Transportation |
275.900 | 275.615 | 2.1 | -0.1 | |||
Private transportation |
290.459 | 286.846 | 2.4 | -1.2 | |||
New and used motor vehicles(3) |
133.768 | 133.495 | -0.7 | -0.2 | |||
New vehicles(1) |
237.983 | 238.162 | -0.5 | 0.1 | |||
Used cars and trucks(1) |
337.777 | 339.144 | -2.2 | 0.4 | |||
Motor fuel |
311.435 | 295.725 | 287.878 | -13.5 | -7.6 | -2.7 | |
Gasoline (all types) |
307.613 | 292.067 | 284.235 | -13.5 | -7.6 | -2.7 | |
Gasoline, unleaded regular(4) |
302.024 | 286.052 | 278.170 | -13.9 | -7.9 | -2.8 | |
324.300 | 311.267 | 303.112 | -11.9 | -6.5 | -2.6 | ||
Gasoline, unleaded premium(4) |
322.499 | 309.983 | 302.876 | -11.3 | -6.1 | -2.3 | |
Medical care |
599.776 | 599.738 | 2.0 | 0.0 | |||
Recreation(3) |
137.907 | 138.866 | 5.2 | 0.7 | |||
Education and communication(3) |
137.858 | 140.493 | 1.4 | 1.9 | |||
Tuition, other school fees, and child care(1) |
1,158.801 | 1,196.650 | 3.3 | 3.3 | |||
Other goods and services |
704.532 | 702.213 | 2.4 | -0.3 | |||
Commodity and service group |
|||||||
Commodities |
223.162 | 221.985 | -0.7 | -0.5 | |||
Commodities less food and beverages |
180.423 | 177.693 | -3.5 | -1.5 | |||
Nondurables less food and beverages |
225.926 | 220.982 | -2.8 | -2.2 | |||
Durables |
128.161 | 127.502 | -4.8 | -0.5 | |||
Services |
408.034 | 410.277 | 5.5 | 0.5 | |||
Special aggregate indexes |
|||||||
All items less shelter |
279.752 | 280.323 | 2.3 | 0.2 | |||
All items less medical care |
303.960 | 304.539 | 3.5 | 0.2 | |||
Commodities less food |
183.559 | 181.011 | -3.3 | -1.4 | |||
Nondurables |
265.479 | 264.069 | 0.6 | -0.5 | |||
Nondurables less food |
227.885 | 223.488 | -2.5 | -1.9 | |||
Services less rent of shelter(2) |
400.967 | 405.297 | 6.0 | 1.1 | |||
Services less medical care services |
393.185 | 395.283 | 5.8 | 0.5 | |||
Energy |
261.783 | 254.801 | 252.107 | -4.0 | -3.7 | -1.1 | |
All items less energy |
324.801 | 326.125 | 3.9 | 0.4 | |||
All items less food and energy |
331.232 | 332.492 | 4.0 | 0.4 | |||
Footnotes |
Last Modified Date: Wednesday, November 13, 2024