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News Release Information

24-498-CHI
Tuesday, March 12, 2024

Contacts Technical information: Media contact:
  • (312) 353-1138

Consumer Price Index, Chicago-Naperville-Elgin area – February 2024

Area prices were up 0.5 percent over the past month, up 3.4 percent from a year ago

(NOTE: Index and average price data for electricity in Chicago-Naperville-Elgin, IL-IN-WI for January 2024 through March 2024 were incorrectly published in the database and this news release. Data in this news release will not be corrected. The incorrect values were removed from the database on 5/15/2024. Corrected values were made available in the database on 6/12/2024.)

Prices in the Chicago-Naperville-Elgin area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.5 percent in February, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Jason Palmer noted that the increase was attributed to higher energy costs. The all items less food and energy index rose 0.3 percent in February. Within the all items less food and energy category, prices were higher over the month for shelter and apparel. The indexes for public transportation and recreation were lower. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U rose 3.4 percent. (See chart 1 and table A.) The index for all items less food and energy advanced 3.8 percent over the year. Food prices increased 2.8 percent. Energy prices fell 0.7 percent, largely the result of a decrease in the price of utility (piped) gas service. (See table 1.)

  Chart 1. Over-the-year percent change in CPI-U, Chicago-Naperville-Elgin, IL-IN-WI, February 2021–February 2024

Food

Food prices fell 0.3 percent for the month of February. (See table 1.) Prices for food at home (groceries) decreased 0.6 percent, and prices for food away from home (restaurant, cafeteria, and vending purchases) were unchanged for the same period. Within the food at home group, indexes were higher in February for snacks, other miscellaneous foods, and eggs. In contrast, the indexes for processed fish and seafood, candy and chewing gum, and other fresh vegetables were lower.

Over the year, food prices advanced 2.8 percent. Prices for food at home increased 2.4 percent since a year ago. All six major grocery store food group indexes rose over the year. The index for other food at home (includes sugar, sweets, fats, and oils, for example) rose 2.9 percent, nonalcoholic beverages and beverage materials was up 6.3 percent, and the index for meats, poultry, fish, and eggs increased 1.7 percent. Prices for food away from home rose 3.3 percent.

Energy

The energy index increased 5.0 percent over the month. The increase was mainly due to higher prices for gasoline (+7.9 percent). Prices for utility (piped) gas service rose 3.4 percent, and prices for electricity increased 1.8 percent for the same period.

Energy prices fell 0.7 percent over the year, largely due to lower prices for utility (piped) gas service (-9.5 percent). Prices paid for electricity increased 11.1 percent, while prices for gasoline fell 4.1 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.3 percent in February. Higher prices for shelter (+0.3 percent) and apparel (+2.0 percent) were partially offset by lower prices for recreation (-0.5 percent).

Over the year, the index for all items less food and energy advanced 3.8 percent. Components contributing to the increase included shelter (+4.9 percent) and other goods and services (+7.9 percent). Partly offsetting the increases was a price decrease in public transportation.

Table A. Chicago-Naperville-Elgin, IL-IN-WI, 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

0.9 2.6 0.7 0.7 0.9 6.8 0.9 5.4 0.8 3.3

February

0.0 2.0 0.6 1.2 0.8 7.1 0.4 5.0 0.5 3.4

March

-0.7 1.1 0.6 2.6 1.4 7.8 0.8 4.4

April

-0.9 0.3 1.0 4.6 0.4 7.2 0.8 4.8

May

1.0 0.4 1.0 4.7 1.8 8.0 0.4 3.3

June

0.3 1.1 0.4 4.7 1.3(r) 8.9(r) 0.1 2.1

July

0.2 1.0 0.4 4.9 -0.2(r) 8.4(r) 0.0 2.2

August

0.1 1.0 0.1 4.8 0.1(r) 8.3(r) 0.2 2.3

September

0.6 1.4 0.3 4.5 0.2(r) 8.2(r) 0.1 2.3

October

-0.1 1.0 0.7 5.3 0.1(r) 7.7(r) 0.3 2.4

November

-0.4 0.8 0.2 6.0 -0.6 6.8 -0.5 2.5

December

-0.2 0.9 0.4 6.6 -0.8 5.5 0.0 3.3

Footnotes:
(r) Revised

The March 2024 Consumer Price Index for the Chicago-Naperville-Elgin area is scheduled to be released on April 10, 2024.


Technical Note

(NOTE: Index and average price data for electricity in Chicago-Naperville-Elgin, IL-IN-WI for January 2024 through March 2024 were incorrectly published in the database and this news release. Data in this news release will not be corrected. The incorrect values were removed from the database on 5/15/2024. Corrected values were made available in the database on 6/12/2024.)

The Consumer Price Index for Chicago 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 population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 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 87 urban areas across the country from about 4,000 housing units and approximately 26,000 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/homch17_a.htm.

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 Chicago-Naperville-Elgin, IL-IN-WI Core Based Statistical Area consists of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will Counties in Illinois; Jasper, Lake, Newton, and Porter Counties in Indiana; and Kenosha County in Wisconsin.

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
Chicago-Naperville-Elgin, IL-IN-WI (1982-84=100 unless otherwise noted)
Item and Group

Indexes Percent change from-
Dec.
2023
Jan.
2024
Feb.
2024
Feb.
2023
Dec.
2023
Jan.
2024

Expenditure category

All items

283.760 286.022 287.394 3.4 1.3 0.5

All items (1967=100)

847.756 854.515 858.612 - - -

Food and beverages

317.910 321.118 320.177 2.8 0.7 -0.3

Food

318.008 321.466 320.371 2.8 0.7 -0.3

Food at home

294.469 299.933 298.269 2.4 1.3 -0.6

Cereals and bakery products

339.611 338.101 338.852 2.5 -0.2 0.2

Meats, poultry, fish and eggs

313.425 318.773 316.328 1.7 0.9 -0.8

Dairy and related products

260.768 261.941 262.774 1.0 0.8 0.3

Fruits and vegetables

353.280 363.558 356.926 0.8 1.0 -1.8

Nonalcoholic beverages and beverage materials(1)

242.996 259.359 262.482 6.3 8.0 1.2

Other food at home

247.291 249.544 247.074 2.9 -0.1 -1.0

Food away from home

342.815 342.531 342.505 3.3 -0.1 0.0

Alcoholic beverages

315.179 315.025 316.137 3.1 0.3 0.4

Housing

302.101 304.518 305.883 4.2 1.3 0.4

Shelter

384.745 386.837 387.820 4.9 0.8 0.3

Rent of primary residence(2)

413.664 415.630 415.413 5.5 0.4 -0.1

Owners' equiv. rent of residences(2)(3)

398.156 400.305 400.971 5.4 0.7 0.2

Owners' equiv. rent of primary residence(2)(3)

398.156 400.305 400.971 5.4 0.7 0.2

Fuels and utilities

244.685 255.003 259.261 2.7 6.0 1.7

Household energy

191.335 200.477 205.208 2.5 7.3 2.4

Energy services(2)

195.145 204.585 209.457 2.7 7.3 2.4

Electricity(2)

184.973 194.905 198.492 11.1 7.3 1.8

Utility (piped) gas service(2)

185.156 192.222 198.824 -9.5 7.4 3.4

Household furnishings and operations

105.313 105.082 105.888 0.4 0.5 0.8

Apparel

85.179 90.931 92.780 1.2 8.9 2.0

Transportation

231.945 230.179 234.534 2.8 1.1 1.9

Private transportation

236.031 231.773 237.614 3.9 0.7 2.5

New and used motor vehicles(4)

120.969 114.824 115.623 -1.5 -4.4 0.7

New vehicles(1)

215.247 215.864 215.769 0.5 0.2 0.0

Used cars and trucks(1)

360.719 347.253 348.646 -1.6 -3.3 0.4

Motor fuel

284.704 280.200 302.072 -4.2 6.1 7.8

Gasoline (all types)

282.094 277.782 299.822 -4.1 6.3 7.9

Gasoline, unleaded regular(5)

271.026 266.928 288.790 -4.2 6.6 8.2

Gasoline, unleaded midgrade(5)(6)

321.991 315.903 336.404 -3.1 4.5 6.5

Gasoline, unleaded premium(5)

318.023 312.803 330.828 -2.8 4.0 5.8

Medical care

551.748 551.879 554.199 3.2 0.4 0.4

Recreation(4)

133.242 135.734 135.074 3.9 1.4 -0.5

Education and communication(4)

141.369 141.383 141.623 0.3 0.2 0.2

Tuition, other school fees, and childcare(1)

1,271.862 1,273.633 1,282.590 2.5 0.8 0.7

Other goods and services

471.270 479.572 481.401 7.9 2.1 0.4

Commodity and service group

All items

283.760 286.022 287.394 3.4 1.3 0.5

Commodities

197.685 199.420 201.153 1.3 1.8 0.9

Commodities less food and beverages

141.391 142.485 145.040 0.3 2.6 1.8

Nondurables less food and beverages

190.120 192.919 197.297 0.9 3.8 2.3

Durables

96.659 96.181 97.058 -1.1 0.4 0.9

Services

365.459 368.221 369.253 4.7 1.0 0.3

Special aggregate indexes

All items less medical care

272.480 274.854 276.187 3.4 1.4 0.5

All items less shelter

249.548 251.884 253.401 2.6 1.5 0.6

Commodities less food

147.094 148.170 150.717 0.5 2.5 1.7

Nondurables

253.198 256.279 258.479 2.0 2.1 0.9

Nondurables less food

197.948 200.628 204.885 1.2 3.5 2.1

Services less rent of shelter(3)

362.733 366.407 367.606 4.5 1.3 0.3

Services less medical care services

350.704 353.562 354.577 5.0 1.1 0.3

Energy

227.714 231.437 242.931 -0.7 6.7 5.0

All items less energy

291.225 293.388 293.925 3.6 0.9 0.2

All items less food and energy

287.317 289.278 290.073 3.8 1.0 0.3

Footnotes
(1) Index on a December 1977=100 base.
(2) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(3) Index on a December 1982=100 base.
(4) Indexes on a December 1997=100 base.
(5) Special index based on a substantially smaller sample.
(6) Index on a December 1993=100 base.

- Data not available.
Note: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

 

Last Modified Date: Tuesday, March 12, 2024