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Consumer Price Index, Midwest Region – January 2024

Area prices rose 0.3 percent in January, up 2.7 percent over the year

Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.3 percent in January, the U.S. Bureau of Labor Statistics reported today. (See table A.) The January increase was led by a 0.2 percent advance in the all items less food and energy index, mainly due to higher prices for owners’ equivalent rent of residences. Food prices and energy prices were also up, 0.8 and 0.6 percent, respectively. (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 2.7 percent. (See chart 1.) The index for all items less food and energy increased 3.7 percent over the year, while food prices rose 2.5 percent. Energy prices fell 7.8 percent, largely the result of a decrease in the price of gasoline. (See table 1.)

Food

Food prices advanced 0.8 percent for the month of January. Prices for food at home (grocery store prices) rose 0.9 percent, while prices for food away from home (restaurant, cafeteria, and vending purchases) were up 0.7 percent for the same period. Within the food at home category, nonalcoholic beverages and beverage materials (+4.3 percent) contributed the most to the over-the-month increase, followed by other food at home (+1.0 percent). Lightly offsetting the increase was a decline in prices paid for meats, poultry, fish, and eggs (-0.6 percent).

Over the year, food prices rose 2.5 percent. Prices for food away from home advanced 4.4 percent, and prices for food at home were up 1.3 percent since a year ago. Within the food at home category, prices for other food at home (+3.0 percent) and nonalcoholic beverages and beverage materials (+5.3 percent) contributed the most to the over-the-year increase.

Energy

The energy index advanced 0.6 percent over the month. The increase was mainly due to higher prices for electricity (+2.8 percent), but an increase in prices paid for natural gas service (+1.1 percent) also contributed. Partially offsetting the increase were declining prices for gasoline, which were down 0.9 percent in January.

From January 2023 to January 2024, energy prices fell 7.8 percent. The decline was mainly influenced by falling gasoline prices (-11.9 percent) but decreasing natural gas service prices (-17.7 percent) also contributed. Prices paid for electricity increased 4.4 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.2 percent in January. Increases in owners’ equivalent rent of residences (+0.5 percent), apparel (+3.1 percent), and recreation (+0.7 percent) were the largest contributors. Partially offsetting the increase were falling prices for used cars and trucks (-3.7 percent), lodging away from home, and medical care commodities (-1.2 percent).

Over the year, the index for all items less food and energy increased 3.7 percent. Components contributing the most to the increase included owners’ equivalent rent of residences (+6.7 percent), rent of primary residence (+6.3 percent), and other goods and services (+5.6 percent). Slightly offsetting these increases, prices for used cars and trucks fell 3.1 percent over the year.

Table A. Midwest region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2020 2021 2022 2023 2024
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 2.5 0.5 1.2 0.8 7.9 0.8 6.0 0.3 2.7

February

0.3 2.1 0.8 1.7 0.9 8.0 0.5 5.6

March

-0.5 1.0 0.7 3.0 1.3 8.6 0.6 4.9

April

-1.1 -0.4 0.8 4.9 0.5 8.2 0.6 4.9

May

0.3 -0.4 1.0 5.6 1.5 8.8 0.3 3.7

June

0.8 0.4 1.0 5.8 1.6 9.5 0.4 2.4

July

0.5 0.7 0.6 5.9 -0.2 8.6 0.3 2.9

August

0.4 1.1 0.2 5.7 -0.2 8.1 0.2 3.4

September

0.2 1.3 0.2 5.7 0.2 8.1 0.1 3.2

October

-0.1 1.0 0.8 6.6 0.1 7.4 -0.1 2.9

November

-0.2 1.0 0.4 7.3 -0.2 6.8 -0.2 2.9

December

0.1 1.1 0.3 7.5 -0.5 6.0 -0.2 3.2

The February 2024 Consumer Price Index for the Midwest Region is scheduled to be released on Tuesday, March 12, 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 category Indexes Percent change from
Nov.
2023
Dec.
2023
Jan.
2024
Jan.
2023
Nov.
2023
Dec.
2023

All items

284.539 283.908 284.731 2.7 0.1 0.3

All items (December 1977 = 100)

462.961 461.934 463.274      

Food and beverages

311.282 311.736 314.178 2.5 0.9 0.8

Food

312.588 313.009 315.478 2.5 0.9 0.8

Food at home

286.562 287.002 289.498 1.3 1.0 0.9

Cereals and bakery products

337.450 335.756 335.431 1.3 -0.6 -0.1

Meats, poultry, fish, and eggs

311.151 311.625 309.849 -1.3 -0.4 -0.6

Dairy and related products

246.376 245.538 246.657 -1.2 0.1 0.5

Fruits and vegetables

320.086 320.016 322.603 0.2 0.8 0.8

Nonalcoholic beverages and beverage materials

205.580 207.774 216.755 5.3 5.4 4.3

Other food at home

255.264 256.114 258.612 3.0 1.3 1.0

Food away from home

355.077 355.446 357.780 4.4 0.8 0.7

Alcoholic beverages

292.842 293.747 295.816 3.1 1.0 0.7

Housing

281.894 282.601 284.385 4.5 0.9 0.6

Shelter

338.643 340.120 341.513 6.4 0.8 0.4

Rent of primary residence(1)

342.112 343.989 345.403 6.3 1.0 0.4

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

346.571 348.435 350.341 6.7 1.1 0.5

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

346.483 348.346 350.245 6.7 1.1 0.5

Fuels and utilities

266.138 266.846 272.583 -1.7 2.4 2.1

Household energy

215.006 215.747 220.800 -3.7 2.7 2.3

Energy services(1)

222.288 223.090 228.102 -3.6 2.6 2.2

Electricity(1)

230.501 231.228 237.612 4.4 3.1 2.8

Utility (piped) gas service(1)

189.651 190.525 192.638 -17.7 1.6 1.1

Household furnishings and operations

138.825 137.695 138.706 -0.6 -0.1 0.7

Apparel

117.167 115.486 119.079 1.6 1.6 3.1

Transportation

260.824 255.549 251.781 -0.1 -3.5 -1.5

Private transportation

259.773 254.759 250.527 0.2 -3.6 -1.7

New and used motor vehicles(3)

128.880 128.169 124.025 -0.5 -3.8 -3.2

New vehicles

172.951 172.359 172.907 1.5 0.0 0.3

New cars and trucks(3)(4)

           

New cars(4)

167.859 167.201 167.640 0.1 -0.1 0.3

Used cars and trucks

186.377 186.563 179.695 -3.1 -3.6 -3.7

Motor fuel

289.465 264.556 261.551 -12.1 -9.6 -1.1

Gasoline (all types)

287.423 262.478 260.002 -11.9 -9.5 -0.9

Gasoline, unleaded regular(4)

279.060 254.333 252.012 -12.3 -9.7 -0.9

Gasoline, unleaded midgrade(4)(5)

341.470 315.596 311.251 -9.3 -8.8 -1.4

Gasoline, unleaded premium(4)

325.338 303.278 299.684 -7.7 -7.9 -1.2

Medical care

551.490 549.769 549.600 0.6 -0.3 0.0

Medical care commodities

403.183 395.782 391.189 2.3 -3.0 -1.2

Medical care services

600.469 600.696 602.058 0.2 0.3 0.2

Professional services

466.337 464.022 461.798 1.2 -1.0 -0.5

Recreation(3)

138.892 139.597 140.587 2.6 1.2 0.7

Education and communication(3)

142.453 142.561 143.178 0.0 0.5 0.4

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

1,311.136 1,314.402 1,311.735 3.4 0.0 -0.2

Other goods and services

531.284 531.285 532.690 5.6 0.3 0.3

Commodity and service group

Commodities

215.163 212.868 213.704 -0.2 -0.7 0.4

Commodities less food and beverages

171.293 168.150 168.395 -1.9 -1.7 0.1

Nondurables less food and beverages

220.150 213.690 214.561 -2.3 -2.5 0.4

Durables

123.000 122.148 121.965 -1.6 -0.8 -0.1

Services

355.718 356.835 357.652 4.6 0.5 0.2

Special aggregate indexes

All items less shelter

267.649 266.216 266.832 1.0 -0.3 0.2

All items less medical care

271.980 271.400 272.277 2.9 0.1 0.3

Commodities less food

174.996 171.928 172.216 -1.7 -1.6 0.2

Nondurables

264.407 261.163 262.760 0.4 -0.6 0.6

Nondurables less food

223.966 217.921 218.853 -1.9 -2.3 0.4

Services less rent of shelter(2)

383.328 384.001 384.118 2.6 0.2 0.0

Services less medical care services

337.564 338.746 339.523 5.2 0.6 0.2

Energy

248.681 238.716 240.205 -7.8 -3.4 0.6

All items less energy

291.590 291.732 292.508 3.5 0.3 0.3

All items less food and energy

288.863 288.960 289.472 3.7 0.2 0.2

(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: Tuesday, February 13, 2024