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News Release Information

24-2352-PHI
Wednesday, November 13, 2024

Contacts Technical information: Media contact:

Consumer Price Index, Philadelphia-Camden-Wilmington – October 2024

Area prices were up 0.2 percent over the past 2 months, up 3.4 percent from a year ago

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). 

Food

In 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.

Energy

The 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 energy

The 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).

Table A. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2020 2021 2022 2023 2024
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.0 2.6 0.8 1.0 1.5 7.3 2.0 6.9 1.6 3.4

April

-1.3 -0.1 1.2 3.5 2.2 8.4 0.1 4.7 0.7 4.1

June

0.6 0.1 1.9 4.9 2.3 8.8 0.7 3.1 0.3 3.6

August

0.8 0.4 0.6 4.6 0.0 8.1 0.8 3.9 0.6 3.4

October

0.0 0.8 1.0 5.6 0.6 7.8 0.2 3.5 0.2 3.4

December

0.0 1.1 0.9 6.6 -0.4 6.4 0.0 3.9

The December 2024 Consumer Price Index for the Philadelphia-Camden-Wilmington area is scheduled to be released on January 15, 2025.

Notice Regarding Ceasing Publication of Utility Indexes

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:

  • Electricity
  • Utility (piped) gas (often referred to as natural gas)
  • Energy services
  • Fuels and utilities
  • Household energy

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:

  • Electricity per KWH
  • Utility (piped) gas per therm

Technical Note

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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
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

Gasoline, unleaded midgrade(4)(5)

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

 

Last Modified Date: Wednesday, November 13, 2024