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Friday, January 12, 2018

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

Area prices up 0.1 percent over the month and 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), 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.)

Food

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.

Energy

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.

All items less food and energy

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.

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 0.2 1.7

September

0.4 1.6 0.3 1.6 0.0 1.0 0.2 0.3 0.2 1.0 0.5 2.1

October

-0.1 1.7 -0.6 1.1 -0.2 1.3 -0.1 0.4 0.1 1.2 -0.2 1.8

November

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

December

-0.3 2.1 0.0 1.5 -0.5 0.3 -0.4 0.7 0.1 2.1 0.1 1.6

Footnotes:
(R) = revised.
 

CPI-W

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).

Consumer Price Index Geographic Revision for 2018

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.


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 Group Indexes Percent change from-
Oct.
2017
Nov.
2017
Dec.
2017
Dec.
2016
Oct.
2017
Nov.
2017
 

Expenditure category

 
 

All items

269.575 269.381 269.564 1.6 0.0 0.1

All items (1967=100)

779.305 778.742 779.273      
 

Food and beverages

262.271 262.153 262.465 2.1 0.1 0.1

Food

262.309 262.244 262.646 2.3 0.1 0.2

Food at home

253.405 252.759 252.929 2.1 -0.2 0.1

Food away from home

281.995 282.774 283.526 2.5 0.5 0.3

Alcoholic beverages

257.289 256.463 255.544 0.3 -0.7 -0.4
 

Housing

292.432 292.699 293.988 1.9 0.5 0.4

Shelter

371.091 371.403 372.257 1.9 0.3 0.2

Rent of primary residence(1)

384.111 384.611 385.109 2.1 0.3 0.1

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

377.790 377.951 378.813 1.9 0.3 0.2

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

377.324 377.483 378.344 1.9 0.3 0.2

Fuels and utilities

184.521 185.970 191.222 4.5 3.6 2.8

Household energy

175.806 177.428 183.305 5.1 4.3 3.3

Energy services(1)

168.407 169.083 174.742 3.9 3.8 3.3

Electricity(1)

174.350 170.429 177.011 0.1 1.5 3.9

Utility (piped) gas service(1)

148.749 157.393 161.134 12.0 8.3 2.4

Household furnishings and operations

108.872 108.093 108.042 -1.8 -0.8 0.0
 

Apparel

130.854 123.214 118.135 -1.5 -9.7 -4.1
 

Transportation

215.299 216.099 215.371 2.2 0.0 -0.3

Private transportation

201.485 202.892 202.702 2.8 0.6 -0.1

Motor fuel

209.807 210.830 208.116 9.0 -0.8 -1.3

Gasoline (all types)

208.899 209.900 207.155 8.9 -0.8 -1.3

Gasoline, unleaded regular(3)

207.635 208.897 205.916 9.2 -0.8 -1.4

Gasoline, unleaded midgrade(3)(4)

218.182 217.643 216.524 8.0 -0.8 -0.5

Gasoline, unleaded premium(3)

219.685 219.007 217.780 7.4 -0.9 -0.6
 

Medical care

479.874 480.607 481.152 2.2 0.3 0.1
 

Recreation(5)

121.660 122.802 123.825 2.0 1.8 0.8
 

Education and communication(5)

142.227 142.328 142.090 -1.5 -0.1 -0.2
 

Other goods and services

424.127 422.113 420.409 1.5 -0.9 -0.4
 

Commodity and service group

 
 

All items

269.575 269.381 269.564 1.6 0.0 0.1

Commodities

188.766 187.520 186.820 1.2 -1.0 -0.4

Commodities less food and beverages

143.956 142.260 141.132 0.3 -2.0 -0.8

Nondurables less food and beverages

184.743 181.592 179.229 1.2 -3.0 -1.3

Durables

92.819 92.686 92.860 -1.2 0.0 0.2

Services

337.945 338.544 339.404 1.7 0.4 0.3
 

Special aggregate indexes

 
 

All items less medical care

260.441 260.208 260.376 1.5 0.0 0.1

All items less shelter

229.361 228.960 228.871 1.3 -0.2 0.0

Commodities less food

148.244 146.566 145.438 0.3 -1.9 -0.8

Nondurables

225.138 223.392 222.275 1.7 -1.3 -0.5

Nondurables less food

189.177 186.159 183.878 1.1 -2.8 -1.2

Services less rent of shelter(2)

312.833 313.733 314.641 1.5 0.6 0.3

Services less medical care services

326.174 326.790 327.657 1.5 0.5 0.3

Energy

191.166 192.583 195.283 6.6 2.2 1.4

All items less energy

279.072 278.724 278.674 1.2 -0.1 0.0

All items less food and energy

283.881 283.483 283.356 1.1 -0.2 0.0

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, January 12, 2018