Friday, January 12, 2018
Prices in the New York-Northern New Jersey-Long Island area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), ticked up 0.1 percent in December after decreasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli attributed the index movement to an increase in household energy prices. (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 1.1 percent. (See table A and chart 1.) Price increases for shelter drove the 12-month change in both indexes. (See table 1.)
The food index edged up 0.2 percent after remaining unchanged in November. Prices for food away from home rose 0.3 percent for the third consecutive month. Food-at-home prices inched up 0.1 percent. Chicken, tomatoes, and salad dressing were among the groceries that had higher prices in December.
For the year ended in December 2017, the food index increased 2.3 percent. Prices rose 2.5 percent for food away from home, while prices for food at home increased 2.1 percent.
The energy index rose 1.4 percent after rising 0.7 percent in November. Household energy price increases drove the December advance, with higher prices reported for electricity (3.9 percent), natural gas (2.4 percent), and fuel oil. Gasoline prices, on the other hand, were down 1.3 percent.
From December 2016 to December 2017, energy prices increased 6.6 percent, with gasoline prices rising 8.9 percent. Household energy prices advanced 5.1 percent, led by a 12.0-percent rise in natural gas prices. By contrast, electricity prices ticked up 0.1 percent.
The index for all items less food and energy was flat, after inching up 0.1 percent in the two previous months. Shelter prices rose 0.1 percent. Within shelter, residential rent increased 0.1 percent. Recreation prices rose 0.8 percent and price increases were reported for new and used motor vehicles. Seasonal declines in apparel prices (-4.1 percent) largely offset these increases. Other items showing declines included other goods and services (-0.4 percent) and education and communication (-0.2 percent).
Over the year, the index for all items less food and energy rose 1.1 percent. Shelter prices increased 1.9 percent, with residential rent up 2.1 percent. Medical care prices increased 2.2 percent, recreation prices increased 2.0 percent, and other goods and services rose 1.5 percent. Apparel and education and communication prices, on the other hand, were each down 1.5 percent.
In December, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 264.436, up 0.1 percent over the month. The CPI-W rose 1.8 percent over the year.
The January 2018 Consumer Price Index for New York-Newark-Jersey City is scheduled to be released Wednesday, February 14, 2018, at 8:30 a.m. (ET).
In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). As part of the new sample, the index for this area will be renamed. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: https://www.bls.gov/cpi/additional-resources/geographic-revision-2018.htm.
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.
|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
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, January 12, 2018