Thursday, October 15, 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, after ticking up 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the increase to higher prices for shelter 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 0.3 percent. (See table A.) The index for all items less food and energy increased 2.0 percent. (See table 1.) For both indexes, the September increase was the largest since 2014. (See chart 1.)
The food index increased 0.4 percent in September, following a 0.3-percent increase in August. Higher prices for lettuce, pork chops, and snacks contributed to a 0.4-percent increase in prices for food at home. Prices for food away from home increased 0.6 percent.
Over the year, the food index increased 1.5 percent. At-home food prices rose 1.0 percent, while away-from-home food prices rose 2.2 percent.
The energy index declined 4.5 percent, largely due to a 9.6-percent drop in gasoline prices. Household energy prices decreased 1.0 percent. A reduction in electricity charges (-1.3 percent) led to the decline in household energy prices. Natural gas prices also declined (-0.5 percent).
For the year ended September 2015, the energy index fell 19.5 percent; gasoline prices dropped 31.7 percent, and household energy prices declined 9.1 percent. Within household energy, natural gas prices were down 11.8 percent, and electricity prices were down 2.0 percent.
The index for all items less food and energy rose 0.5 percent after a 0.4-percent increase in August. Shelter prices advanced 0.6 percent, reflecting a 0.8-percent increase for residential rent, the largest monthly increase reported in over seven years. Owners’ equivalent rent, up 0.5 percent, also contributed to the increase. Apparel prices, often up at this time of year, rose 4.1 percent, following a 4.9-percent increase in August. Higher prices for college tuition and fees contributed to a 1.0-percent increase in education and communication.
From September 2014 to September 2015, the index for all items less food and energy increased 2.0 percent. A 3.1-percent advance in shelter prices was largely attributable to increases in residential rent (3.5 percent) and owners’ equivalent rent (2.8 percent). Apparel prices increased 3.6 percent. Medical care prices rose 1.3 percent, and education and communication increased 1.0 percent.
In September, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 256.386, up 0.1 percent over the month. The CPI-W decreased 0.2 percent over the year.
The October 2015 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Tuesday, November 17, 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/homch17_a.htm.
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: Thursday, October 15, 2015