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Friday, July 17, 2015
Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), edged up 0.2 percent, following a 0.4-percent rise in May, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the June increase to a rise in energy prices that was largely offset by a decline in prices for other items, including medical care and apparel. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
Over the year, the CPI-U was up 0.1 percent. (See table A.) Since February, the 12-month percent change has remained within a range of -0.1 to 0.1 percent. (See chart 1.) The index for all items less food and energy increased 1.4 percent. (See table 1.)Food
The food index ticked up 0.1 percent in June, after inching down 0.1 percent in May. Higher prices for eggs; uncooked beef steaks; citrus fruits; and other beverage materials, including tea, contributed to a 0.1-percent increase in prices for food at home. Prices for food away from home were unchanged over the month.
Over the year, the food index increased 2.1 percent. Prices for food at home rose 1.3 percent, and prices for food away from home, 3.3 percent.Energy
The energy index rose 3.5 percent, following a 4.5-percent advance in May. A fourth consecutive increase was recorded for gasoline prices, 2.8 percent. Household energy prices rose 3.9 percent due to a seasonal increase in electricity charges, which jumped 7.3 percent. On the other hand, prices for natural gas declined 0.3 percent over the month.
From June 2014 to June 2015, the energy index fell 16.4 percent. Gasoline prices dropped 25.2 percent, and an 8.7-percent decrease in household energy prices reflected declines of 13.7 percent for natural gas and 2.2 percent for electricity.All items less food and energy
The index for all items less food and energy inched down 0.1 percent in June, the first decline in six months. Apparel prices fell 2.9 percent, reflecting seasonal trends, and medical care prices dropped 1.4 percent. These declines outweighed increases among other categories, including recreation (0.4 percent), shelter (0.2 percent), and education and communication (0.2 percent). Within shelter, owners’ equivalent rent advanced 0.4 percent, and residential rent rose 0.3 percent.
For the year ended June 2015, the index for all items less food and energy increased 1.4 percent, primarily due to shelter prices, which rose 2.2 percent. Residential rent and owners’ equivalent rent contributed to the shelter increase with advances of 2.8 percent and 2.2 percent, respectively. Higher prices were also recorded for apparel (2.5 percent) and for medical care (1.3 percent).
In June, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 256.383, up 0.2 percent over the month. The CPI-W decreased 0.3 percent over the year.
The July 2015 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Wednesday, August 19, 2015, at 8:30 a.m. (ET).
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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 28 percent of the total 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 87 urban areas across the country from about 6,000 housing units and approximately 24,000 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 (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. This change can also be expressed in dollars as follows: the price of a base period "market basket" of goods and services in the CPI has risen from $10 in 1982-84 to $11.65. 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 New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. consolidated area covered in this release is comprised of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339.
|Item and Group||Indexes||Percent change from-|
All items (1967=100)
Food and beverages
Food at home
Food away from home
Rent of primary residence (1)
Fuels and utilities
Energy services (1)
Utility (piped) gas service (1)
Household furnishings and operations
Gasoline (all types)
Gasoline, unleaded regular (3)
Gasoline, unleaded premium (3)
Education and communication (5)
Other goods and services
Commodity and service group
Commodities less food and beverages
Nondurables less food and beverages
Special aggregate indexes
All items less medical care
All items less shelter
Commodities less food
Nondurables less food
Services less rent of shelter (2)
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: Friday, July 17, 2015