Thursday, August 11, 2022
The Consumer Price Index for All Urban Consumers (CPI-U) for Boston advanced 0.7 percent for the two months ending in July 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that the July increase was influenced by higher prices for food. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
Over the last 12 months, the CPI-U increased 7.0 percent. The index for all items less food and energy rose 3.9 percent over the year, mainly due to higher shelter prices. Energy prices advanced 43.9 percent. Food prices increased 10.3 percent. (See table 1.)
Food prices increased 2.6 percent for the two months ending in July. (See table 1.) Prices for food at home rose 1.7 percent, and prices for food away from home rose 4.3 percent for the same period.
Over the year, food prices increased 10.3 percent. Prices for food at home advanced 10.9 percent since a year ago, and prices for food away from home rose 9.4 percent.
The energy index increased 2.1 percent for the two months ending in July. The increase was mainly due to higher prices for electricity (5.3 percent). Prices for gasoline rose 2.9 percent, and prices for utility (piped) gas service increased 7.9 percent for the same period. Partly offsetting the increase within household energy was a price decrease in fuel oil.
Energy prices advanced 43.9 percent over the year, largely due to higher prices for gasoline (55.1 percent). Prices paid for natural gas service rose 52.3 percent, and prices for electricity rose 20.2 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 the latest two-month period. Higher prices for shelter (0.5 percent) and medical care (1.4 percent) were partially offset by lower prices for household furnishings and operations (-3.5 percent) and apparel (-1.8 percent).
Over the year, the index for all items less food and energy rose 3.9 percent. Components contributing to the increase included shelter (2.8 percent), medical care (6.9 percent), and new and used motor vehicles (7.5 percent). Within shelter, owners’ equivalent rent of residences increased 4.2 percent. Partly offsetting the increase within shelter was a price decrease in lodging away from home.
The Consumer Price Index for September 2022 is scheduled to be released on October 13, 2022, at 8:30 a.m. (ET).
The Consumer Price Index (CPI) is a measures 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 BLS Handbook of Methods, Chapter 17, The Consumer Price Index, 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 Boston-Cambridge-Newton, Mass.-N.H. Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts; Rockingham, Strafford Counties in New Hampshire.
Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.
|Expenditure category||Indexes||Percent change from|
All items (1967 = 100)
Food and beverages
Food at home
Cereal and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials(1)
Other food at home
Food away from home
Rent of primary residence(2)
Fuels and utilities
Utility (piped) gas service(2)
Household furnishings and operations
New and used motor vehicles(5)
Used cars and trucks(1)
Gasoline (all types)
Gasoline, unleaded regular(6)
Gasoline, unleaded premium(6)
Motor vehicle insurance(1)
Education and communication(5)
Tuition, other fees, and child care(1)
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(3)
Services less medical care services
All items less energy
All items less food and energy
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Thursday, August 11, 2022