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The Consumer Price Index, New York-Northern New Jersey news release for July 2017, issued on Aug. 11, originally contained an incorrect subtitle.  The subtitle should have read “Area prices down 0.2 percent over the month and up 1.6 percent over the year.”

News Release Information

17-1125-NEW
Friday, August 11, 2017

Contacts

Technical information:
Media contact:
  • (646) 264-3620

Consumer Price Index, New York-Northern New Jersey – July 2017

Area prices down 0.2 percent over the month and up 1.6 percent over the year

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 down 0.2 percent in July after increasing 0.2 percent in June, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli said the July downturn reflected lower prices for energy and other items, including 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 rose 1.6 percent. The index for all items less food and energy increased 1.4 percent. (See table A and chart 1.) Price increases for shelter drove the 12-month change in both indexes. (See table 1.)

 

 

Food

The food index increased 0.2 percent for the second consecutive month. In July, prices for food at home edged up 0.2 percent; among the groceries with higher prices were apples and butter and margarine. Prices for food away from home ticked up 0.1 percent.

Over the year, the food index increased 1.7 percent. Prices for food away from home rose 2.2 percent, and prices for food at home advanced 1.3 percent.

Energy

The energy index fell 1.9 percent after a 0.8-percent rise in June. Prices declined for gasoline (-2.0 percent) and for household energy (-1.8 percent). Natural gas prices dropped 3.0 percent over the month, the largest reduction since 2015. Lower prices were recorded for electricity (-1.0 percent) and for fuel oil, as well.

From July 2016 to July 2017, energy prices rose 5.5 percent, led by a 7.5-percent increase in gasoline prices. Household energy prices rose 4.3 percent, with increases of 9.6 percent for natural gas and 1.7 percent for electricity.

All items less food and energy

The index for all items less food and energy edged down 0.2 percent in July, following a 0.1-percent increase in June. A 0.2-percent increase in shelter prices was offset by declines in other categories. Apparel prices, which often fall at this time of year, decreased 2.7 percent. Prices for household furnishings and operations dropped 1.5 percent, the largest decline since July 2015, and lower prices were also reported for used cars and trucks and for airline fares.

For the year ended July 2017, the index for all items less food and energy rose 1.4 percent. Shelter prices increased 2.3 percent. Prices for recreation advanced 3.9 percent, and prices for medical care and for other goods and services each rose 1.7 percent. On the other hand, prices decreased for household furnishings and operations (-0.9 percent) and for education and communication (-0.5 percent).

Table A. New York-Northern New Jersey-Long Island CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2012 2013 2014 2015 2016 2017
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 2.8 0.5 2.2 0.9 1.9 0.1 -0.5 0.2 0.8 0.6 2.5

February

0.4 2.6 0.6 2.4 -0.2 1.1 0.3 0.1 0.2 0.6 0.3 2.6

March

0.6 2.6 0.1 1.9 0.4 1.3 0.2 -0.1 0.2 0.7 0.0 2.3

April

0.2 2.4 -0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0 0.1 2.0

May

0.1 1.8 0.1 1.4 0.5 1.9 0.4 -0.1 0.3 0.9 0.1 1.8

June

-0.1 1.6 0.3 1.8 0.0 1.7 0.2 0.1 0.2(R) 0.9(R) 0.2 1.8

July

-0.2 1.1 0.2 2.1 0.1 1.6 -0.1 -0.1 -0.1 1.0 -0.2 1.6

August

0.6 1.4 0.1 1.7 -0.2 1.3 0.1 0.1 0.2 1.1    

September

0.4 1.6 0.3 1.6 0.0 1.0 0.2 0.3 0.2 1.0    

October

-0.1 1.7 -0.6 1.1 -0.2 1.3 -0.1 0.4 0.1 1.2    

November

0.0 2.0 0.1 1.2 -0.4 0.8 -0.2 0.6 0.2 1.6    

December

-0.3 2.1 0.0 1.5 -0.5 0.3 -0.4 0.7 0.1 2.1    

Footnotes:
(R) = revised.
 

CPI-W

In July, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 262.577, down 0.2 percent over the month. The CPI-W rose 1.7 percent over the year.

The August 2017 Consumer Price Index for New York-Northern New Jersey-Long Island is scheduled to be released Thursday, September 14, 2017, at 8:30 a.m. (ET).


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 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/pdf/homch17.pdf.

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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods, New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)(not seasonally adjusted)
Item and GroupIndexesPercent change from-
May
2017
June
2017
July
2017
July
2016
May
2017
June
2017
 

Expenditure category

 
 

All items

268.183268.666268.0511.60.0-0.2

All items (1967=100)

775.280776.676774.899   
 

Food and beverages

259.929260.358260.8651.50.40.2

Food

260.113260.545261.0321.70.40.2

Food at home

251.321252.020252.6101.30.50.2

Food away from home

279.580279.633279.9852.20.10.1

Alcoholic beverages

253.006253.397254.156-0.30.50.3
 

Housing

290.950292.150292.0192.20.40.0

Shelter

367.192367.964368.8402.30.40.2

Rent of primary residence(1)

380.197380.805381.1492.50.30.1

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

373.435373.598374.3202.20.20.2

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

372.968373.131373.8572.20.20.2

Fuels and utilities

191.160194.257191.3584.00.1-1.5

Household energy

183.438186.904183.5784.30.1-1.8

Energy services(1)

178.062182.293179.3154.10.7-1.6

Electricity(1)

185.867191.065189.1601.71.8-1.0

Utility (piped) gas service(1)

154.628156.941152.2589.6-1.5-3.0

Household furnishings and operations

109.909111.310109.606-0.9-0.3-1.5
 

Apparel

126.946125.432122.0420.4-3.9-2.7
 

Transportation

215.630214.975211.4410.6-1.9-1.6

Private transportation

199.906199.316197.8311.2-1.0-0.7

Motor fuel

198.945197.139193.1837.5-2.9-2.0

Gasoline (all types)

198.136196.336192.3747.5-2.9-2.0

Gasoline, unleaded regular(3)

196.769194.868190.8887.8-3.0-2.0

Gasoline, unleaded midgrade(3)(4)

208.296206.678203.0805.8-2.5-1.7

Gasoline, unleaded premium(3)

209.683208.703204.8165.2-2.3-1.9
 

Medical care

474.273475.291476.7641.70.50.3
 

Recreation(5)

123.371123.336123.6313.90.20.2
 

Education and communication(5)

142.055142.064142.300-0.50.20.2
 

Other goods and services

417.646421.643423.6441.71.40.5
 

Commodity and service group

 
 

All items

268.183268.666268.0511.60.0-0.2

Commodities

187.359187.132185.8780.8-0.8-0.7

Commodities less food and beverages

143.062142.545140.5480.2-1.8-1.4

Nondurables less food and beverages

181.267180.274177.2811.9-2.2-1.7

Durables

94.53794.52993.665-2.9-0.9-0.9

Services

336.528337.562337.4182.00.30.0
 

Special aggregate indexes

 
 

All items less medical care

259.225259.685258.9851.6-0.1-0.3

All items less shelter

228.984229.351228.1271.2-0.4-0.5

Commodities less food

147.239146.748144.8260.2-1.6-1.3

Nondurables

222.148221.822220.4601.7-0.8-0.6

Nondurables less food

185.651184.738181.9611.7-2.0-1.5

Services less rent of shelter(2)

314.084315.428314.1701.60.0-0.4

Services less medical care services

325.345326.332325.9861.90.2-0.1

Energy

191.888193.402189.7915.5-1.1-1.9

All items less energy

277.470277.861277.5211.40.0-0.1

All items less food and energy

282.368282.754282.2731.40.0-0.2

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Index is on a December 1982=100 base.
(3) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.
 

Note: Index applies to a month as a whole, not to any specific date.
The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven, and Middlesex Counties in Connecticut; and Pike County in Pennsylvania.
 

 

Last Modified Date: Friday, August 11, 2017