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18-1477-NEW
Thursday, September 13, 2018

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Consumer Price Index, New York-Newark-Jersey City – August 2018

Area prices up 0.1 percent over the month and 2.2 percent over the year

Prices in the New York-Newark-Jersey City area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), ticked up 0.1 percent in August, after no change in July, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli explained that rising apparel and shelter prices were largely offset by declining 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 increased 2.2 percent. The index for all items less food and energy rose 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 August food index was unchanged after increasing 0.2 percent in July. Prices for food at home ticked up 0.1 percent. Price increases were recorded for three of the six grocery groups, led by cereals and bakery products (1.7 percent), which included higher prices for breakfast cereal. Prices for food away from home were unchanged for the second consecutive month.

For the year ended in August 2018, the food index rose 2.4 percent, with prices 3.4 percent higher for food away from home and 1.7 percent higher for food at home.

Energy

Over the month, energy prices declined 1.9 percent, following a 0.7-percent decrease in July. Household energy prices dropped 3.0 percent, with a 3.7-percent decline for electricity and a 3.0-percent decline for natural gas. Gasoline prices decreased 0.5 percent, after decreasing 2.0 percent in July.

From August 2017 to August 2018, the energy index rose 11.0 percent. Gasoline prices climbed 19.1 percent. Prices for household energy rose 5.7 percent, with higher prices recorded for natural gas (9.4 percent), partially offset by declines in prices for electricity (-0.2 percent).

All items less food and energy

The index for all items less food and energy rose 0.3 percent in August. Often up at this time of year, apparel prices jumped 7.6 percent—the largest increase in more than eight years. Shelter prices rose 0.2 percent. Within shelter, residential rent rose 0.5 percent and owners’ equivalent rent, 0.3 percent. Education and communication prices increased 0.8 percent, with higher prices recorded for tuition, other school fees, and childcare (2.1 percent).

Over the year, the index for all items less food and energy rose 1.4 percent. Other goods and services rose 2.7 percent and medical care, 1.8 percent. Shelter prices increased 1.8 percent, including a 2.4-percent rise in owners’ equivalent rent and a 1.8-percent increase in residential rent. Education and communication posted a 1.0 percent increase.

Table A. New York-Newark-Jersey City CPI-U 1-month and 12-month percent changes (not seasonally adjusted)
Month 2013 2014 2015 2016 2017 2018
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

0.5 2.2 0.9 1.9 0.1 -0.5 0.2 0.8 0.6 2.5 0.4 1.4

February

0.6 2.4 -0.2 1.1 0.3 0.1 0.2 0.6 0.3 2.6 0.5 1.7

March

0.1 1.9 0.4 1.3 0.2 -0.1 0.2 0.7 0.0 2.3 0.0 1.7

April

-0.2 1.4 0.0 1.6 0.1 0.0 0.4 1.0 0.1 2.0 0.3 1.9

May

0.1 1.4 0.5 1.9 0.4 -0.1 0.3 0.9 0.1 1.8 0.4 2.2

June

0.3 1.8 0.0 1.7 0.2 0.1 0.2(R) 0.9(R) 0.2 1.8 0.1 2.0

July

0.2 2.1 0.1 1.6 -0.1 -0.1 -0.1 1.0 -0.2 1.6 0.0 2.2

August

0.1 1.7 -0.2 1.3 0.1 0.1 0.2 1.1 0.2 1.7 0.1 2.2

September

0.3 1.6 0.0 1.0 0.2 0.3 0.2 1.0 0.5 2.1

October

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

November

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

December

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 August, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 269.304, up 0.1 percent over the month. The CPI-W rose 2.2 percent over the year.

The September 2018 Consumer Price Index for New York-Newark-Jersey City is scheduled to be released on Thursday, October 11, 2018, 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 93 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 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 75 urban areas across the country from about 5,000 housing units and approximately 22,000 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-Newark-Jersey City, N.Y.-N.J.-Pa., Core Based Statistical Area includes Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York; Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union Counties in New Jersey; 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-Newark-Jersey City, NY-NJ-PA, not seasonally adjusted
(1982-84=100 unless otherwise noted)
Item and Group Indexes Percent change from-
June
2018
July
2018
Aug.
2018
Aug.
2017
June
2018
July
2018

Expenditure category

All items

274.170 274.073 274.441 2.2 0.1 0.1

All items (1967=100)

792.589 792.308 793.370      

Food and beverages

266.694 267.197 267.351 2.5 0.2 0.1

Food

266.740 267.302 267.423 2.4 0.3 0.0

Food at home

255.693 256.679 256.820 1.7 0.4 0.1

Cereals and bakery products

305.975 299.330 304.336   -0.5 1.7

Meats, poultry, fish, and eggs

252.605 254.407 253.685   0.4 -0.3

Dairy and related products

220.666 222.495 224.308   1.7 0.8

Fruits and vegetables

321.847 323.239 325.772   1.2 0.8

Nonalcoholic beverages and beverage materials(1)

252.958 252.946 249.937   -1.2 -1.2

Other food at home

224.946 228.701 226.603   0.7 -0.9

Food away from home

289.637 289.604 289.699 3.4 0.0 0.0

Alcoholic beverages

261.554 261.241 261.847 2.8 0.1 0.2

Housing

298.099 298.964 298.629 2.0 0.2 -0.1

Shelter

375.650 376.707 377.549 1.8 0.5 0.2

Rent of primary residence

387.522 388.214 390.007 1.8 0.6 0.5

Owners' equivalent rent of residences(2)

383.104 384.019 385.278 2.4 0.6 0.3

Owners' equivalent rent of primary residence(2)

382.629 383.544 384.801 2.4 0.6 0.3

Fuels and utilities

204.415 205.035 199.521 5.5 -2.4 -2.7

Household energy

196.675 197.285 191.280 5.7 -2.7 -3.0

Energy services

186.826 187.246 180.764 2.8 -3.2 -3.5

Electricity

192.726 192.265 185.081 -0.2 -4.0 -3.7

Utility (piped) gas service

166.908 168.665 163.643 9.4 -2.0 -3.0

Household furnishings and operations

108.371 108.783 107.994 -1.1 -0.3 -0.7

Apparel

121.897 118.532 127.486 -0.7 4.6 7.6

Transportation

226.460 224.456 223.356 5.6 -1.4 -0.5

Private transportation

213.066 212.744 211.863 6.4 -0.6 -0.4

New and used motor vehicles(3)

91.597 92.324 91.934   0.4 -0.4

New vehicles(1)

200.946 200.922 199.778   -0.6 -0.6

Used cars and trucks(1)

267.577 270.890 271.128   1.3 0.1

Motor fuel

243.146 238.190 237.097 19.1 -2.5 -0.5

Gasoline (all types)

242.052 237.112 236.021 19.1 -2.5 -0.5

Gasoline, unleaded regular(4)

241.625 236.541 235.409 19.4 -2.6 -0.5

Gasoline, unleaded midgrade(4)(5)

247.675 243.552 242.456 17.4 -2.1 -0.5

Gasoline, unleaded premium(4)

247.015 243.041 242.278 16.4 -1.9 -0.3

Motor vehicle insurance(1)

740.009 744.758 739.734   0.0 -0.7

Medical care

485.040 484.915 484.875 1.8 0.0 0.0

Recreation(3)

123.824 123.307 122.693 -0.6 -0.9 -0.5

Education and communication(3)

141.443 141.696 142.861 1.0 1.0 0.8

Tuition, other school fees, and child care(1)

1,166.517 1,167.923 1,191.912   2.2 2.1

Other goods and services

433.209 432.066 431.587 2.7 -0.4 -0.1

Commodity and service group

All items

274.170 274.073 274.441 2.2 0.1 0.1

Commodities

192.218 191.481 192.509 2.9 0.2 0.5

Commodities less food and beverages

146.741 145.482 146.847 3.3 0.1 0.9

Nondurables less food and beverages

189.254 187.184 190.418 5.2 0.6 1.7

Durables

93.343 93.037 92.276 -1.0 -1.1 -0.8

Services

343.699 344.033 343.969 1.9 0.1 0.0

Special aggregate indexes

All items less medical care

265.013 264.917 265.302 2.2 0.1 0.1

All items less shelter

234.083 233.478 233.643 2.4 -0.2 0.1

Commodities less food

151.093 149.855 151.206 3.2 0.1 0.9

Nondurables

229.795 228.889 230.746 3.7 0.4 0.8

Nondurables less food

193.710 191.730 194.829 5.1 0.6 1.6

Services less rent of shelter(2)

320.028 319.561 318.480 1.9 -0.5 -0.3

Services less medical care services

331.965 332.243 332.156 1.9 0.1 0.0

Energy

217.130 215.616 211.412 11.0 -2.6 -1.9

All items less energy

281.606 281.648 282.470 1.6 0.3 0.3

All items less food and energy

286.132 286.094 287.031 1.4 0.3 0.3

Footnotes
(1) Indexes on a December 1977=100 base.
(2) Indexes on a December 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

 

Last Modified Date: Thursday, September 13, 2018