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News Release Information

22-1158-KAN
Friday, June 10, 2022

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

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

Area prices rose 1.3 percent in April and May, up 8.3 percent over the year.

Prices in the Denver-Aurora-Lakewood area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.3 percent for the two months ending in May 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Michael Hirniak noted that the food index increased 2.8 percent, and the energy index rose 1.7 percent in April and May. The all items less food and energy index advanced 1.1 percent over the past two months. Among the indexes within the all items less food and energy category, prices were higher for owners’ equivalent rent of residences and household furnishings and operations. (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 8.3 percent. The index for all items less food and energy advanced 7.1 percent over the year. Energy prices jumped 24.7 percent, largely the result of an increase in the price of gasoline, while food prices rose 9.8 percent. (See chart 1 and table 1.)

 
Food

Food prices advanced 2.8 percent for the two months ending in May. The index for food at home (groceries) increased 3.0 percent, with the largest price increases in meats, poultry, fish and eggs and nonalcoholic beverages and beverage materials.  Prices for food away from home rose 2.4 percent for the same period.

Over the year, food prices advanced 9.8 percent. Prices for food at home jumped 10.6 percent over the year, mainly due to an increase in prices for meats, poultry, fish, and eggs and nonalcoholic beverages and beverage material. Prices for food away from home (restaurant, cafeteria, and vending purchases) rose 8.6 percent.

Energy

The energy index advanced 1.7 percent for the two months ending in May. The increase was mainly due to higher prices for gasoline (+5.4 percent). This increase was partially offset by lower prices for electricity (-5.9 percent).

From May 2021 to May 2022, energy prices jumped 24.7 percent, with all energy components contributing. Higher prices for gasoline (+33.7 percent) were the main factor in the increase over the year, but rising electricity prices (+5.5 percent) also contributed.

All items less food and energy

The index for all items less food and energy rose 1.1 percent in the latest two-month period. Higher prices for shelter (+1.1 percent), household furnishings and operations (+2.3 percent), and medical care (+1.4 percent) were among the components contributing most to the rise. These increases were partially offset by lower prices for apparel (-3.0 percent).

Over the year, the index for all items less food and energy increased 7.1 percent. The components most contributing to the increase included owners’ equivalent rent of residences (+7.4 percent), medical care (+10.3 percent) and used cars and trucks (+18.9 percent).

The July 2022 Consumer Price Index for the Denver-Aurora-Lakewood area is scheduled to be released on August 10, 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 -
Mar.
2022
Apr.
2022
May
2022
May
2021
Mar.
2022
Apr.
2022

All items

299.529 - 303.510 8.3 1.3 -

All items (1967 = 100)

998.806 - 1,012.081      

Food and beverages

270.236 - 277.286 9.4 2.6 -

Food

276.168 - 283.828 9.8 2.8 -

Food at home

255.764 259.975 263.558 10.6 3.0 1.4

Cereals and bakery products

306.377 - 311.246 8.8 1.6 -

Meats, poultry, fish, and eggs

267.009 - 275.523 17.2 3.2 -

Dairy and related products

210.724 - 224.381 8.0 6.5 -

Fruits and vegetables

287.811 - 299.125 6.1 3.9 -

Nonalcoholic beverages and beverage materials(1)

170.543 - 181.497 11.8 6.4 -

Other food at home

232.555 - 233.645 8.7 0.5 -

Food away from home

303.158 - 310.430 8.6 2.4 -

Alcoholic beverages

217.577 - 219.173 4.8 0.7 -

Housing

296.626 - 299.236 7.2 0.9 -

Shelter

341.139 342.544 344.722 7.2 1.1 0.6

Rent of primary residence

353.457 354.753 355.358 6.5 0.5 0.2

Owners' equivalent rent of residences(2)

336.952 337.712 340.761 7.4 1.1 0.9

Owners' equivalent rent of primary residence(2)

336.952 337.712 340.761 7.4 1.1 0.9

Fuels and utilities

270.718 - 263.392 9.9 -2.7 -

Household energy

181.480 180.344 174.505 11.7 -3.8 -3.2

Energy services

179.189 178.120 172.172 11.4 -3.9 -3.3

Electricity

181.559 181.559 170.893 5.5 -5.9 -5.9

Utility (piped) gas service

- - - - - -

Household furnishings and operations

136.578 - 139.693 5.7 2.3 -

Apparel

114.934 - 111.493 -0.3 -3.0 -

Transportation

317.784 - 327.218 16.1 3.0 -

Private transportation

318.144 - 324.114 16.4 1.9 -

New and used motor vehicles(3)

- - 132.765 - - -

New vehicles(1)

- - 243.208 - - -

Used cars and trucks(1)

412.490 - 412.554 18.9 0.0 -

Motor fuel

328.437 335.569 347.904 35.2 5.9 3.7

Gasoline (all types)

324.449 330.611 342.012 33.7 5.4 3.4

Gasoline, unleaded regular(4)

316.711 322.572 334.135 34.7 5.5 3.6

Gasoline, unleaded midgrade(4)(5)

315.730 322.262 332.508 32.0 5.3 3.2

Gasoline, unleaded premium(4)

346.553 353.827 364.015 29.8 5.0 2.9

Medical care

693.446 - 702.833 10.3 1.4 -

Recreation(3)

170.916 - 171.545 6.0 0.4 -

Education and communication(3)

125.906 - 126.120 -0.6 0.2 -

Tuition, other school fees, and childcare(1)

1,110.219 - 1,111.119 -0.4 0.1 -

Other goods and services

422.265 - 424.914 9.5 0.6 -

Commodity and service group

Commodities

203.054 - 206.979 11.9 1.9 -

Commodities less food and beverages

167.949 - 170.595 13.3 1.6 -

Nondurables less food and beverages

206.933 - 210.666 14.8 1.8 -

Durables

130.809 - 132.630 13.1 1.4 -

Services

383.756 - 387.545 6.4 1.0 -

Special aggregate indexes

All items less shelter

279.488 - 283.640 9.0 1.5 -

All items less medical care

281.691 - 285.430 8.2 1.3 -

Commodities less food

170.102 - 172.723 13.0 1.5 -

Nondurables

239.253 - 244.616 11.8 2.2 -

Nondurables less food

207.352 - 210.898 13.9 1.7 -

Services less rent of shelter(2)

440.124 - 444.058 5.4 0.9 -

Services less medical care services

357.660 - 361.161 6.2 1.0 -

Energy

247.797 250.192 252.057 24.7 1.7 0.7

All items less energy

306.256 - 310.249 7.4 1.3 -

All items less food and energy

312.710 - 316.146 7.1 1.1 -

(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: Friday, June 10, 2022