Wednesday, April 11, 2018
The Consumer Price Index for All Urban Consumers (CPI-U) in the Midwest rose 0.2 percent in March, the same rate of increase as in the prior month, the U.S. Bureau of Labor Statistics reported today. A broad-based rise in prices for all items less food and energy (0.3 percent) led the increase. Energy costs were down 0.6 percent for the second month in a row. Prices for food were little changed, down 0.1 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
The CPI-U for the Midwest advanced 1.8 percent from March 2017 to March 2018. (See chart 1 and table A.) The energy index, which includes motor fuel and household fuels, rose 5.3 percent and food prices increased 0.9 percent. Excluding food and energy, the CPI-U was up 1.6 percent over the year. (See table 1.)
Food prices in the Midwest were little changed (-0.1 percent) in March due to offsetting movements within the index. Costs for food at home were down 0.4 percent over the month with lower prices for fruits and vegetables contributing to the decrease. Prices for food away from home were up 0.2 percent.
From March 2017 to March 2018, the index for food was 0.9 percent higher led by a 2.2-percent increase in prices for food away from home. Prices for food at home were unchanged over the year.
The energy index was down 0.6 percent in March after turning down by the same magnitude in February. Lower costs for utility (piped) gas service led the decline with a decrease of 3.9 percent in March. Electricity prices also declined over the month, down 0.7 percent. Though lower gasoline prices led the February decline in the energy index, they increased 0.6 percent in March.
Energy costs rose 5.3 percent from March 2017 to March 2018 led by a 10.1-percent increase in gasoline prices. Costs for electricity rose 0.5 percent over the year, but prices for utility (piped) gas service were virtually unchanged (-0.1 percent).
The index for all items less food and energy for the Midwest was up 0.3 percent in March, the same as in the prior month. Higher costs for shelter (0.4 percent) had the largest upward impact on the index. Prices for used cars and trucks (1.5 percent) and other goods and services (1.0 percent) were also among those that contributed to the rise.
The index for all items less food and energy was up 1.6 percent from March 2017 to March 2018. Higher costs for shelter (3.1 percent) led the over-the-year increase.
The Midwest Consumer Price Index for All Urban Consumers (CPI-U) stood at 232.931 in March 2018. A typical market basket of goods and services that cost $100.00 in the 1982-84 base period cost $232.93 in March 2018.
In March, the Midwest Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 227.007. The CPI-W increased 0.2 percent in March and rose 1.9 percent over the year.
The April 2018 Consumer Price Index for the Midwest region is scheduled to be released on Thursday, May 10, 2018.
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 approximately 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 75 urban areas across the country from about 5,000 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 (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/pdf/homch17.pdf.
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 Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339.
|Expenditure category||Indexes||Percent change from|
All items (December 1977 = 100)
Food and beverages
Food at home
Cereals and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials
Other food at home
Food away from home
Rent of primary residence(1)
Fuels and utilities
Utility (piped) gas service(1)
Household furnishings and operations
New and used motor vehicles(3)
Used cars and trucks
Gasoline (all types)
Gasoline, unleaded regular(4)
Gasoline, unleaded premium(4)
Motor vehicle insurance(6)
Medical care commodities
Medical care services
Education and communication(3)
Tuition, other school fees, and child care(6)
Other goods and services
Commodity and service group
Commodities less food and beverages
Nondurables less food and beverages
Special aggregate indexes
All items less shelter
All items less medical care
Commodities less food
Nondurables less food
Services less rent of shelter(2)
Services less medical care services
All items less energy
All items less food and energy
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Wednesday, April 11, 2018