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News Release Information

22-1634-KAN
Wednesday, August 10, 2022

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

Consumer Price Index, Denver-Aurora-Lakewood area – July 2022

Area prices rose 1.7 percent in June and July, up 8.2 percent from a year ago.

Prices in the Denver-Aurora-Lakewood area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.7 percent for the two months ending in July 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Michael Hirniak noted that the food index increased 3.2 percent, and the energy index increased 8.9 percent in June and July. The all items less food and energy index rose 1.0 percent over the past two months. Among the indexes within the all items less food and energy category, prices were higher for shelter and new and used motor vehicles. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U rose 8.2 percent. The index for all items less food and energy advanced 6.6 percent over the year. Energy prices increased 23.8 percent, largely the result of an increase in the price of gasoline, while food prices rose 12.0 percent. (See chart 1 and table 1.)

  Food

Food prices advanced 3.2 percent for the two months ending in July. The index for food at home (groceries) increased 4.0 percent, partly due to price increases for other food at home (+5.4 percent) and meats, poultry, fish, and eggs (+2.8 percent). Prices for food away from home rose 2.1 percent for the same period.

Over the year, food prices increased 12.0 percent, with five of the six major grocery store food indexes rising more than 10 percent. Prices for food at home advanced 13.6 percent over the year, partly due to a 15.6-percent increase in the indexes for other food at home (which includes sugar, sweets, fats, and oils) and a 14.3-percent increase for meats, poultry, fish, and eggs. Prices for food away from home (restaurant, cafeteria, and vending purchases) rose 9.8 percent over the past 12 months.

Energy

The energy index advanced 8.9 percent for the two months ending in July. The increase was mainly due to a rise in prices for gasoline (+15.0 percent), but prices for electricity (+2.1 percent) also contributed.

From July 2021 to July 2022, energy prices rose 23.8 percent.  A rise in the index for gasoline (+33.9 percent) was the main factor in the increase over the year, but the index for electricity (+8.2 percent) also contributed.

All items less food and energy

The index for all items less food and energy rose 1.0 percent in the latest two-month period. Higher prices for shelter (+1.6 percent), new and used motor vehicles (+1.7 percent), and recreation (+1.4 percent) were among the components contributing most to the rise. These increases were partially offset by lower prices for public transportation.

Over the year, the index for all items less food and energy increased 6.6 percent. Components most contributing to the increase included owners’ equivalent rent of residences (+6.6 percent), medical care (+11.2 percent), and new and used motor vehicles (+9.1 percent).

The September 2022 Consumer Price Index for the Denver-Aurora-Lakewood area is scheduled to be released on Thursday, October 13, 2022.


Technical Note

The Consumer Price Index (CPI) measures 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 Denver-Aurora-Lakewood metropolitan area is comprised of Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties in Colorado.

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,
Denver-Aurora-Lakewood, CO (1982-84=100 unless otherwise noted)
Item and Group Indexes Percent change from -
May
2022
Jun.
2022
Jul.
2022
Jul.
2021
May
2022
Jun.
2022

All items

303.510 - 308.728 8.2 1.7 -

All items (1967 = 100)

1,012.081 - 1,029.480      

Food and beverages

277.286 - 286.240 11.6 3.2 -

Food

283.828 - 292.930 12.0 3.2 -

Food at home

263.558 267.860 274.084 13.6 4.0 2.3

Cereals and bakery products

311.246 - 325.998 15.0 4.7 -

Meats, poultry, fish, and eggs

275.523 - 283.350 14.3 2.8 -

Dairy and related products

224.381 - 234.886 14.0 4.7 -

Fruits and vegetables

299.125 - 305.635 7.7 2.2 -

Nonalcoholic beverages and beverage materials(1)

181.497 - 188.873 14.7 4.1 -

Other food at home

233.645 - 246.352 15.6 5.4 -

Food away from home

310.430 - 317.014 9.8 2.1 -

Alcoholic beverages

219.173 - 226.810 7.6 3.5 -

Housing

299.236 - 303.137 7.1 1.3 -

Shelter

344.722 347.741 350.082 6.8 1.6 0.7

Rent of primary residence

355.358 359.655 362.688 7.8 2.1 0.8

Owners' equivalent rent of residences(2)

340.761 342.311 344.462 6.6 1.1 0.6

Owners' equivalent rent of primary residence(2)

340.761 342.311 344.462 6.6 1.1 0.6

Fuels and utilities

263.392 - 265.122 8.9 0.7 -

Household energy

174.505 174.849 176.419 10.6 1.1 0.9

Energy services

172.172 172.272 174.211 10.4 1.2 1.1

Electricity

170.893 170.893 174.454 8.2 2.1 2.1

Utility (piped) gas service

- - - - - -

Household furnishings and operations

139.693 - 139.601 8.4 -0.1 -

Apparel

111.493 - 110.729 2.3 -0.7 -

Transportation

327.218 - 337.835 12.9 3.2 -

Private transportation

324.114 - 336.648 12.5 3.9 -

New and used motor vehicles(3)

132.765 - 134.964 9.1 1.7 -

New vehicles(1)

243.208 - 246.715 10.4 1.4 -

Used cars and trucks(1)

412.554 - 423.884 8.9 2.7 -

Motor fuel

347.904 405.185 397.705 34.8 14.3 -1.8

Gasoline (all types)

342.012 400.657 393.196 33.9 15.0 -1.9

Gasoline, unleaded regular(4)

334.135 393.446 385.665 34.8 15.4 -2.0

Gasoline, unleaded midgrade(4)(5)

332.508 385.011 379.233 32.3 14.1 -1.5

Gasoline, unleaded premium(4)

364.015 417.402 411.617 30.2 13.1 -1.4

Medical care

702.833 - 707.674 11.2 0.7 -

Recreation(3)

171.545 - 173.867 3.6 1.4 -

Education and communication(3)

126.120 - 126.358 0.5 0.2 -

Tuition, other school fees, and childcare(1)

1,111.119 - 1,115.946 1.5 0.4 -

Other goods and services

424.914 - 426.899 7.2 0.5 -

Commodity and service group

Commodities

206.979 - 213.586 11.8 3.2 -

Commodities less food and beverages

170.595 - 176.007 11.8 3.2 -

Nondurables less food and beverages

210.666 - 222.429 16.9 5.6 -

Durables

132.630 - 134.262 8.4 1.2 -

Services

387.545 - 390.949 6.3 0.9 -

Special aggregate indexes

All items less shelter

283.640 - 288.776 9.0 1.8 -

All items less medical care

285.430 - 290.572 8.0 1.8 -

Commodities less food

172.723 - 178.225 11.6 3.2 -

Nondurables

244.616 - 255.134 13.9 4.3 -

Nondurables less food

210.898 - 222.290 16.0 5.4 -

Services less rent of shelter(2)

444.058 - 444.197 5.5 0.0 -

Services less medical care services

361.161 - 364.520 6.0 0.9 -

Energy

252.057 276.863 274.573 23.8 8.9 -0.8

All items less energy

310.249 - 314.131 7.3 1.3 -

All items less food and energy

316.146 - 319.225 6.6 1.0 -

(1) Indexes on a January 1978=100 base.
(2) Indexes on a November 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Index on a December 1993=100 base.

- Data not available.

 

Last Modified Date: Wednesday, August 10, 2022