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News Release Information

24-39-KAN
Thursday, January 11, 2024

Contacts Technical information: Media contact:
  • (816) 285-7000

Consumer Price Index, Midwest Region – December 2023

Area prices fell 0.2 percent in December, up 3.2 percent over the year

Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), fell 0.2 percent in December, the U.S. Bureau of Labor Statistics reported today. (See table A.)  The December decrease was a result of a 4.0 percent decline in energy costs, almost entirely driven by lower costs for gasoline. The index for all items less food and energy saw no change, while prices for food rose 0.1 percent. (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 3.2 percent. (See chart 1.) The index for all items less food and energy rose 4.1 percent over the year, while the food index was up 2.4 percent. Energy prices declined 5.7 percent, largely the result of a decrease in the price of natural gas service. (See table 1.)

Food

Food prices advanced 0.1 percent for the month of December. The index for food at home rose 0.2 percent, while prices for food away from home increased 0.1 percent for the same period. Within the food at home category, the leading contributors to the rise included nonalcoholic beverages and beverage materials (+1.1 percent) and other food at home (+0.3 percent). Price decreases in cereals and bakery products (-0.5 percent) somewhat offset these increases.

Over the year, food prices advanced 2.4 percent. Prices for food away from home increased 4.2 percent, and prices for food at home advanced 1.4 percent since a year ago. Increases within the food at home index were driven mainly by higher prices for other food at home (+2.9 percent) and cereals and bakery products (+2.7 percent).

Energy

The energy index decreased 4.0 percent over the month. The decrease was almost entirely due to lower prices for gasoline (-8.7 percent), but fuel oil price declines also contributed. The indexes for electricity and natural gas service advanced 0.3 percent and 0.5 percent, respectively, for the same period.

From December 2022 to December 2023, energy prices fell 5.7 percent. The decline was led by lower prices for natural gas service (-20.6 percent), but falling prices for gasoline (-4.7 percent) also contributed. Prices paid for electricity increased 2.9 percent during the past year.

All items less food and energy

The index for all items less food and energy was unchanged in December. The largest contributions to index increases included owners’ equivalent rent of residences (+0.5 percent), recreation (+0.5 percent), and rent of primary residence (+0.5 percent). These increases were entirely offset by declines, including household furnishings and operations (-0.8 percent) and apparel (-1.4 percent).

Over the year, the index for all items less food and energy rose 4.1 percent. The main components contributing to the increase included owners’ equivalent rent of residences (+6.6 percent), rent of primary residence (+6.4 percent), and other goods and services (+6.0 percent). Declining components included public transportation.

Table A. Midwest region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month20192020202120222023
1-month12-month1-month12-month1-month12-month1-month12-month1-month12-month

January

0.20.80.42.50.51.20.87.90.86.0

February

0.71.30.32.10.81.70.98.00.55.6

March

0.61.7-0.51.00.73.01.38.60.64.9

April

0.31.5-1.1-0.40.84.90.58.20.64.9

May

0.31.30.3-0.41.05.61.58.80.33.7

June

0.01.20.80.41.05.81.69.50.42.4

July

0.21.50.50.70.65.9-0.28.60.32.9

August

0.01.50.41.10.25.7-0.28.10.23.4

September

0.01.40.21.30.25.70.28.10.13.2

October

0.21.5-0.11.00.86.60.17.4-0.12.9

November

-0.21.9-0.21.00.47.3-0.26.8-0.22.9

December

0.02.30.11.10.37.5-0.56.0-0.23.2

The January 2024 Consumer Price Index for the Midwest Region is scheduled to be released on Tuesday, February 13, 2024.


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 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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, Midwest Region, (1982-84=100 unless otherwise noted) (not seasonally adjusted)
Expenditure categoryIndexesPercent change from
Oct.
2023
Nov.
2023
Dec.
2023
Dec.
2022
Oct.
2023
Nov.
2023

All items

284.981284.539283.9083.2-0.4-0.2

All items (December 1977 = 100)

463.680462.961461.934   

Food and beverages

312.133311.282311.7362.5-0.10.1

Food

313.405312.588313.0092.4-0.10.1

Food at home

288.130286.562287.0021.4-0.40.2

Cereals and bakery products

336.129337.450335.7562.7-0.1-0.5

Meats, poultry, fish, and eggs

313.713311.151311.625-0.2-0.70.2

Dairy and related products

247.007246.376245.538-1.5-0.6-0.3

Fruits and vegetables

318.237320.086320.0160.50.60.0

Nonalcoholic beverages and beverage materials

209.886205.580207.7742.4-1.01.1

Other food at home

257.546255.264256.1142.9-0.60.3

Food away from home

354.347355.077355.4464.20.30.1

Alcoholic beverages

294.163292.842293.7473.6-0.10.3

Housing

281.474281.894282.6014.40.40.3

Shelter

337.211338.643340.1206.60.90.4

Rent of primary residence(1)

340.497342.112343.9896.41.00.5

Owners' equivalent rent of residences(1)(2)

344.473346.571348.4356.61.20.5

Owners' equivalent rent of primary residence(1)(2)

344.389346.483348.3466.61.10.5

Fuels and utilities

264.529266.138266.846-3.70.90.3

Household energy

213.477215.006215.747-6.21.10.3

Energy services(1)

220.422222.288223.090-5.81.20.4

Electricity(1)

232.558230.501231.2282.9-0.60.3

Utility (piped) gas service(1)

180.823189.651190.525-20.65.40.5

Household furnishings and operations

141.284138.825137.695-0.5-2.5-0.8

Apparel

122.189117.167115.4862.4-5.5-1.4

Transportation

261.793260.824255.5493.3-2.4-2.0

Private transportation

260.826259.773254.7593.9-2.3-1.9

New and used motor vehicles(3)

126.579128.880128.1692.61.3-0.6

New vehicles

173.534172.951172.3591.6-0.7-0.3

New cars and trucks(3)(4)

      

New cars(4)

168.717167.859167.2010.2-0.9-0.4

Used cars and trucks

185.062186.377186.563-0.90.80.1

Motor fuel

306.426289.465264.556-5.1-13.7-8.6

Gasoline (all types)

304.596287.423262.478-4.7-13.8-8.7

Gasoline, unleaded regular(4)

296.089279.060254.333-5.0-14.1-8.9

Gasoline, unleaded midgrade(4)(5)

359.426341.470315.596-2.9-12.2-7.6

Gasoline, unleaded premium(4)

340.549325.338303.278-1.9-10.9-6.8

Medical care

549.901551.490549.7690.60.0-0.3

Medical care commodities

403.450403.183395.7824.2-1.9-1.8

Medical care services

598.249600.469600.696-0.20.40.0

Professional services

465.783466.337464.0221.5-0.4-0.5

Recreation(3)

139.080138.892139.5971.90.40.5

Education and communication(3)

143.027142.453142.5610.1-0.30.1

Tuition, other school fees, and child care(6)

1,310.2421,311.1361,314.4023.90.30.2

Other goods and services

530.735531.284531.2856.00.10.0

Commodity and service group

Commodities

217.832215.163212.8680.6-2.3-1.1

Commodities less food and beverages

174.467171.293168.150-0.6-3.6-1.8

Nondurables less food and beverages

226.328220.150213.6900.2-5.6-2.9

Durables

124.063123.000122.148-1.5-1.5-0.7

Services

353.822355.718356.8354.90.90.3

Special aggregate indexes

All items less shelter

268.803267.649266.2161.6-1.0-0.5

All items less medical care

272.518271.980271.4003.4-0.4-0.2

Commodities less food

178.145174.996171.928-0.5-3.5-1.8

Nondurables

268.115264.407261.1631.5-2.6-1.2

Nondurables less food

229.869223.966217.9210.5-5.2-2.7

Services less rent of shelter(2)

380.832383.328384.0013.10.80.2

Services less medical care services

335.693337.564338.7465.60.90.4

Energy

254.858248.681238.716-5.7-6.3-4.0

All items less energy

291.558291.590291.7323.80.10.0

All items less food and energy

288.692288.863288.9604.10.10.0

(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(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.
(6) Indexes on a December 1977=100 base.

Note: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Thursday, January 11, 2024