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News Release Information

23-2011-BOS
Wednesday, September 13, 2023

Contacts Technical information: Media contact:
  • (617) 565-4141

Consumer Price Index, New York-Newark-Jersey City — August 2023

Area prices up 0.6 percent over the month and 3.5 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), increased 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that the August increase was influenced by higher prices for shelter and energy. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 3.5 percent. (See chart 1 and table A.) The index for all items less food and energy rose 4.5 percent over the year. Food prices increased 3.0 percent. Energy prices declined 6.9 percent. (See table 1.)

Food

Food prices ticked down 0.1 percent for the month of August after remaining unchanged in July. Prices for food at home decreased 0.4 percent, and prices for food away from home increased 0.4 percent for the same period. Five of the six grocery categories had lower prices in August, led by meats, poultry fish, and eggs, with a 1.1-percent decline.

For the year ending in August 2023, food prices increased 3.0 percent. Prices for food away from home advanced 6.4 percent, and prices for food at home rose 1.1 percent.

Energy

The energy index increased 3.3 percent over the month. Gasoline prices advanced 5.0 percent, and prices for household energy rose 2.3 percent. Within household energy, prices increased for natural gas (2.3 percent), electricity (0.8 percent), and fuel oil.

Energy prices declined 6.9 percent over the year, largely due to lower prices for gasoline (-8.7 percent). Prices for household energy fell 4.9 percent, as prices declined for natural gas (14.1 percent) and fuel oil. In contrast, prices for electricity rose 1.5 percent.

All items less food and energy

The index for all items less food and energy rose 0.5 percent in August. Higher prices for shelter (0.6 percent) included increases in owners’ equivalent rent (0.7 percent) and residential rent (0.4 percent). Apparel prices rose 3.8 percent, and prices for new and used motor vehicles, a category that includes leased and rental vehicles, increased 0.7 percent. The increases were partially offset by lower prices for medical care (-0.4 percent).

Over the year, the index for all items less food and energy advanced 4.5 percent, led by a 6.2-percent increase in shelter prices. Within the shelter component, owners’ equivalent rent increased 6.2 percent and residential rent rose 6.0 percent. Prices also increased for new and used motor vehicles (4.6 percent) and recreation (4.9 percent). Price declines for medical care (-2.1 percent) and public transportation partly offset the increases.

Table A. New York-Newark-Jersey City, NY-NJ-PA, CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month20192020202120222023
1-month12-month1-month12-month1-month12-month1-month12-month1-month12-month

January

0.51.60.82.50.41.21.15.10.86.0

February

0.21.30.22.40.31.40.35.10.46.0

March

0.31.6-0.22.00.42.01.36.1-0.14.6

April

0.31.6-0.51.10.73.20.96.30.13.7

May

0.21.50.51.40.53.20.56.30.23.5

June

0.31.70.11.31.04.11.46.70.42.5

July

0.01.70.51.7-0.13.5-0.36.50.43.2

August

0.21.8-0.11.40.13.70.26.60.63.5

September

0.01.40.41.90.53.80.26.2

October

0.01.5-0.21.70.34.30.16.0

November

0.11.8-0.31.40.35.00.25.9

December

0.12.20.41.6-0.24.40.26.3

The September 2023 Consumer Price Index for the New York-Newark-Jersey City area is scheduled to be released on October 12, 2023.


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 U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 6,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000.  Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.

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, NY-NJ-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 individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

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 GroupIndexesPercent change from-
June
2023
July
2023
Aug.
2023
Aug.
2022
June
2023
July
2023

Expenditure category

All items

321.290322.496324.3803.51.00.6

All items (1967=100)

928.806932.290937.736   

Food and beverages

331.592331.731331.1993.1-0.1-0.2

Food

332.950332.929332.4963.0-0.1-0.1

Food at home

314.529314.574313.2591.1-0.4-0.4

Cereals and bakery products

381.920382.577383.0104.60.30.1

Meats, poultry, fish, and eggs

311.089314.354310.794-2.7-0.1-1.1

Dairy and related products

267.557271.734269.8261.60.8-0.7

Fruits and vegetables

378.003374.277372.2730.6-1.5-0.5

Nonalcoholic beverages and beverage materials(1)

317.104317.522315.4173.1-0.5-0.7

Other food at home

283.943281.539282.2612.2-0.60.3

Food away from home

368.988368.822370.3226.40.40.4

Alcoholic beverages

307.267309.858307.8154.60.2-0.7

Housing

343.387344.880347.1204.81.10.6

Shelter

430.019431.935434.3826.21.00.6

Rent of primary residence

441.748443.416445.3776.00.80.4

Owners' equivalent rent of residences(2)

440.046443.102446.1066.21.40.7

Owners' equivalent rent of primary residence(2)

439.501442.553445.5546.21.40.7

Fuels and utilities

238.304240.834245.698-3.73.12.0

Household energy

227.873230.676236.092-4.93.62.3

Energy services

216.062218.649221.471-4.22.51.3

Electricity

218.773222.710224.5671.52.60.8

Utility (piped) gas service

197.821197.674202.166-14.12.22.3

Household furnishings and operations

132.030131.641131.6992.3-0.30.0

Apparel

133.673132.051137.0274.72.53.8

Transportation

275.125277.284281.2083.12.21.4

Private transportation

274.174278.968283.8284.03.51.7

New and used motor vehicles(3)

124.170127.607128.5374.63.50.7

New vehicles(1)

259.463259.666260.0422.70.20.1

Used cars and trucks(1)

393.155391.381385.668-7.0-1.9-1.5

Motor fuel

284.993287.432301.831-8.75.95.0

Gasoline (all types)

283.909286.395300.644-8.75.95.0

Gasoline, unleaded regular(4)

281.405283.909298.379-8.86.05.1

Gasoline, unleaded midgrade(4)(5)

299.192301.751315.466-8.65.44.5

Gasoline, unleaded premium(4)

305.450307.860320.974-7.55.14.3

Medical care

565.875567.523565.255-2.1-0.1-0.4

Recreation(3)

146.511148.303149.2534.91.90.6

Education and communication(3)

159.311159.420159.8312.10.30.3

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

1,358.6561,369.4911,378.7353.61.50.7

Other goods and services

486.457487.686483.3462.8-0.6-0.9

Commodity and service group

All items

321.290322.496324.3803.51.00.6

Commodities

226.616226.279228.1070.60.70.8

Commodities less food and beverages

165.588165.087167.716-1.31.31.6

Nondurables less food and beverages

206.989206.889212.889-0.92.92.9

Durables

112.663111.950111.822-2.0-0.7-0.1

Services

401.596404.060406.0125.11.10.5

Special aggregate indexes

All items less medical care

310.587311.771313.8184.01.00.7

All items less shelter

278.004278.916280.5792.00.90.6

Commodities less food

170.815170.384172.926-1.01.21.5

Nondurables

270.399270.412273.3851.51.11.1

Nondurables less food

213.018213.057218.662-0.52.62.6

Services less rent of shelter(2)

382.665385.873387.2743.61.20.4

Services less medical care services

385.989388.467390.6325.81.20.6

Energy

251.997254.755263.188-6.94.43.3

All items less energy

330.596331.690333.0704.30.70.4

All items less food and energy

332.538333.821335.5054.50.90.5

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: Wednesday, September 13, 2023