Tuesday, November 22, 2022
Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 0.1 percent in October, the U.S. Bureau of Labor Statistics reported today. (See table A.) The index for all items less food and energy was up 0.3 percent, and the food index rose 0.4 percent over the month. The energy index was down 0.8 percent in October. Within the all items less food and energy category, prices for owners’ equivalent rent of residence, recreation, and rent of primary residence contributed the most to the increase. (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 increased 7.4 percent. (See chart 1.) The index for all items less food and energy advanced 5.8 percent over the year. Food prices rose 12.1 percent compared to their October 2021 levels. Energy prices increased 16.2 percent, led by an increase in the price of gasoline. (See table 1.)Food
Food prices advanced 0.4 percent for the month of October. Prices for food away from home (restaurant, cafeteria, and vending purchases) rose 0.6 percent over the month. Prices for food at home (grocery store items) increased 0.3 percent over the same period. The increase in the index for food at home was due to increases in the cost for other food at home (+1.3 percent), meats, poultry, fish, and eggs (+0.5 percent), and dairy and related products (+0.8 percent). This increase was partially offset by lower prices for fruits and vegetables (-1.2 percent).
Over the year, food prices rose 12.1 percent. Prices for food at home advanced 13.2 percent since a year ago, with all six major grocery store food group indexes contributing to the rise. The other food at home index (sugar, sweets, fats, and oils, for example) contributed most to the increase at 16.3 percent. Prices for food away from home increased 10.0 percent over the same period.Energy
The energy index declined 0.8 percent over the month. The decrease was due to lower prices for natural gas service (-7.8 percent), and electricity (-3.9 percent). The decline was moderated by a rise in the prices paid for gasoline (+3.9 percent).
From October 2021 to October 2022, energy prices rose 16.2 percent, mainly due to higher prices for gasoline (+20.1 percent), but all energy categories contributed. Prices paid for natural gas service increased 17.4 percent, and prices for electricity advanced 8.5 percent during the past year.All items less food and energy
The index for all items less food and energy increased 0.3 percent in October. This rise was driven mainly by higher prices for owners’ equivalent rent of residence (+0.7 percent), recreation (+1.5 percent), and rent of primary residence (+0.8 percent). These increases were partially offset by lower prices for used cars and trucks (-2.3 percent), medical care services (-0.4 percent), and apparel (-1.0 percent).
Over the year, the index for all items less food and energy advanced 5.8 percent. Components contributing most to the increase included owners’ equivalent rent of residence (+5.7 percent), medical care services (+5.3 percent), recreation (+7.4 percent), household furnishings and operations (+8.8 percent), and new vehicles (+9.2 percent).
The November 2022 Consumer Price Index for the Midwest Region is scheduled to be released on Tuesday, December 13, 2022.
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 U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 6,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.
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 individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.
|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)
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
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Tuesday, November 22, 2022