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News Release Information

24-274-CHI
Tuesday, February 13, 2024

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

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

Area prices were up 0.8 percent over the past month, up 3.3 percent from a year ago

Prices in the Chicago-Naperville-Elgin area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.8 percent in January, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Jason Palmer noted that the indexes for both food and energy were higher in January. The index for all items less food and energy rose as a result of higher prices for apparel, shelter, and recreation. The index for new and used motor vehicles was 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 advanced 3.3 percent. (See chart 1 and table A.) The index for all items less food and energy increased 3.9 percent over the year. Food prices increased 3.8 percent. Energy prices fell 5.7 percent, largely the result of a decrease in the index for utility (piped) gas service. (See table 1.)

Food

Food prices advanced 1.1 percent for the month of January. (See table 1.) Prices for food at home (groceries) rose 1.9 percent, and prices for food away from home (restaurant, cafeteria, and vending purchases) fell 0.1 percent for the same period. Within the food at home group, indexes were higher in January for carbonated drinks; spices, seasonings, condiments, sauces; other fresh vegetables, and candy and chewing gum. In contrast, the indexes for other miscellaneous foods, bread, and citrus fruits were lower.

Over the year, food prices increased 3.8 percent. Prices for food at home advanced 4.2 percent since a year ago. Five of the six major grocery store food group indexes advanced over the year. Categories increasing were other food at home (+6.3 percent), which includes sugar, sweets, fats, and oils; nonalcoholic beverages and beverage materials (+7.9 percent); fruits and vegetables (+3.9 percent); meats, poultry, fish, and eggs (+3.1 percent); and cereals and bakery products (+2.2 percent). Prices for food away from home rose 3.3 percent.

Energy

The energy index advanced 1.6 percent over the month. The increase was mainly due to a 5.4 percent rise in the electricity index. The index for utility (piped) gas service increased 3.8 percent, while prices for gasoline declined 1.5 percent for the same period.

The energy index fell 5.7 percent over the year, largely due to a decline in the utility (piped) gas service index (-20.6 percent). The electricity index rose 12.7 percent, while prices for gasoline fell 9.6 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.7 percent in January. Higher prices for apparel (+6.8 percent), shelter (+0.5 percent), and recreation (+1.9 percent) were partially offset by lower prices for new and used motor vehicles (-5.1 percent) and household furnishings and operations (-0.2 percent).

Over the year, the index for all items less food and energy increased 3.9 percent. Components contributing to the increase included shelter (+5.3 percent) and recreation (+7.2 percent). Partly offsetting the increases were price decreases in household furnishings and operations (-2.6 percent) and apparel (-0.4 percent).

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

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 February 2024 Consumer Price Index for the Chicago-Naperville-Elgin area is scheduled to be released on March 12, 2024.


Technical Note

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-
Nov.
2023
Dec.
2023
Jan.
2024
Jan.
2023
Nov.
2023
Dec.
2023

Expenditure category

All items

283.859 283.760 286.022 3.3 0.8 0.8

All items (1967=100)

848.053 847.756 854.515 - - -

Food and beverages

316.537 317.910 321.118 3.8 1.4 1.0

Food

316.640 318.008 321.466 3.8 1.5 1.1

Food at home

294.046 294.469 299.933 4.2 2.0 1.9

Cereals and bakery products

336.998 339.611 338.101 2.2 0.3 -0.4

Meats, poultry, fish and eggs

312.080 313.425 318.773 3.1 2.1 1.7

Dairy and related products

261.772 260.768 261.941 -1.1 0.1 0.4

Fruits and vegetables

359.488 353.280 363.558 3.9 1.1 2.9

Nonalcoholic beverages and beverage materials(1)

250.275 242.996 259.359 7.9 3.6 6.7

Other food at home

241.736 247.291 249.544 6.3 3.2 0.9

Food away from home

339.732 342.815 342.531 3.3 0.8 -0.1

Alcoholic beverages

313.753 315.179 315.025 2.8 0.4 0.0

Housing

302.005 302.101 304.518 3.7 0.8 0.8

Shelter

384.193 384.745 386.837 5.3 0.7 0.5

Rent of primary residence(2)

411.605 413.664 415.630 6.5 1.0 0.5

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

396.842 398.156 400.305 5.7 0.9 0.5

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

396.842 398.156 400.305 5.7 0.9 0.5

Fuels and utilities

248.121 244.685 255.003 -0.7 2.8 4.2

Household energy

194.591 191.335 200.477 -1.9 3.0 4.8

Energy services(2)

198.565 195.145 204.585 -2.0 3.0 4.8

Electricity(2)

188.157 184.973 194.905 12.7 3.6 5.4

Utility (piped) gas service(2)

188.505 185.156 192.222 -20.6 2.0 3.8

Household furnishings and operations

104.901 105.313 105.082 -2.6 0.2 -0.2

Apparel

86.274 85.179 90.931 -0.4 5.4 6.8

Transportation

234.693 231.945 230.179 2.0 -1.9 -0.8

Private transportation

237.762 236.031 231.773 1.8 -2.5 -1.8

New and used motor vehicles(4)

121.596 120.969 114.824 -2.6 -5.6 -5.1

New vehicles(1)

216.226 215.247 215.864 0.8 -0.2 0.3

Used cars and trucks(1)

360.457 360.719 347.253 -3.5 -3.7 -3.7

Motor fuel

309.869 284.704 280.200 -9.7 -9.6 -1.6

Gasoline (all types)

307.257 282.094 277.782 -9.6 -9.6 -1.5

Gasoline, unleaded regular(5)

295.772 271.026 266.928 -9.8 -9.8 -1.5

Gasoline, unleaded midgrade(5)(6)

346.329 321.991 315.903 -7.2 -8.8 -1.9

Gasoline, unleaded premium(5)

339.658 318.023 312.803 -6.6 -7.9 -1.6

Medical care

552.750 551.748 551.879 1.8 -0.2 0.0

Recreation(4)

131.547 133.242 135.734 7.2 3.2 1.9

Education and communication(4)

140.318 141.369 141.383 -0.1 0.8 0.0

Tuition, other school fees, and childcare(1)

1,271.270 1,271.862 1,273.633 1.8 0.2 0.1

Other goods and services

473.487 471.270 479.572 7.8 1.3 1.8

Commodity and service group

All items

283.859 283.760 286.022 3.3 0.8 0.8

Commodities

198.720 197.685 199.420 0.5 0.4 0.9

Commodities less food and beverages

143.107 141.391 142.485 -1.7 -0.4 0.8

Nondurables less food and beverages

194.124 190.120 192.919 -0.8 -0.6 1.5

Durables

96.753 96.659 96.181 -3.2 -0.6 -0.5

Services

364.534 365.459 368.221 5.0 1.0 0.8

Special aggregate indexes

All items less medical care

272.541 272.480 274.854 3.4 0.8 0.9

All items less shelter

249.870 249.548 251.884 2.2 0.8 0.9

Commodities less food

148.743 147.094 148.170 -1.5 -0.4 0.7

Nondurables

254.900 253.198 256.279 1.7 0.5 1.2

Nondurables less food

201.632 197.948 200.628 -0.5 -0.5 1.4

Services less rent of shelter(3)

361.347 362.733 366.407 4.5 1.4 1.0

Services less medical care services

349.742 350.704 353.562 5.4 1.1 0.8

Energy

239.114 227.714 231.437 -5.7 -3.2 1.6

All items less energy

290.459 291.225 293.388 3.9 1.0 0.7

All items less food and energy

286.646 287.317 289.278 3.9 0.9 0.7

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, February 13, 2024