Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

News Release Information

24-1680-BOS
Wednesday, August 14, 2024

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

Consumer Price Index, New York-Newark-Jersey City – July 2024

Area prices up 0.3 percent over the past month; up 4.1 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), rose 0.3 percent in July, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that the July increase was primarily driven by higher prices for shelter. (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 increased 4.1 percent. (See chart 1 and table A). The index for all items less food and energy rose 4.3 percent over the year. Energy prices advanced 7.1 percent. Food prices increased 1.7 percent. (See table 1.)

Food

Food prices declined 0.3 percent for the month of July. Prices for food at home decreased 0.5 percent, with declines in four of the six grocery categories. Among the groceries with lower prices in July were chicken and coffee. Prices for food away from home edged down 0.1 percent. 

Over the year, food prices increased 1.7 percent. Prices for food away from home increased 3.5 percent, and prices for food at home rose 0.7 percent.

Energy

The energy index increased 0.5 percent over the month. Household energy prices rose 0.6 percent, with a 0.9-percent advance in natural gas prices, a 0.2-percent increase in electricity prices, and increases in prices for fuel oil. Gasoline prices rose 0.5 percent. 

Energy prices advanced 7.1 percent over the year, largely due to a 12.3-percent rise in household energy. Within household energy, electricity prices advanced 15.1 percent, and natural gas prices rose 9.4 percent. Prices for gasoline, on the other hand, declined 1.4 percent.

All items less food and energy

The index for all items less food and energy rose 0.3 percent in July. Higher prices for shelter, including 0.5-percent increases for both owners’ equivalent rent and residential rent, contributed to the July increase. Additionally, prices rose for motor vehicle insurance, motor vehicle maintenance and repair, and new and used motor vehicles (1.2 percent), a category which includes leased cars and trucks. The increases were partially offset by lower prices for apparel (-4.7 percent), airline fares, and medical care (-0.9 percent). 

Over the year, the index for all items less food and energy rose 4.3 percent, led by a 6.0-percent rise in shelter prices. Within the shelter component, owners’ equivalent rent increased 6.6 percent, and residential rent rose 5.0 percent. Prices also rose for recreation (6.4 percent) and household furnishings and operations (5.0 percent). Meanwhile, medical care prices declined 2.4 percent.

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
Month20202021202220232024
1-month12-month1-month12-month1-month12-month1-month12-month1-month12-month

January

0.82.50.41.21.15.10.86.01.03.1

February

0.22.40.31.40.35.10.46.00.22.9

March

-0.22.00.42.01.36.1-0.14.60.43.4

April

-0.51.10.73.20.96.30.13.70.43.8

May

0.51.40.53.20.56.30.23.50.43.9

June

0.11.31.04.11.46.70.42.50.64.2

July

0.51.7-0.13.5-0.36.50.43.20.34.1

August

-0.11.40.13.70.26.60.63.5

September

0.41.90.53.80.26.20.43.7

October

-0.21.70.34.30.16.0-0.13.5

November

-0.31.40.35.00.25.9-0.23.0

December

0.41.6-0.24.40.26.30.12.9

The August 2024 Consumer Price Index for the New York-Newark-Jersey City area is scheduled to be released on Wednesday, September 11, 2024, at 8:30 a.m. (ET).


Technical Note

The Consumer Price Index for New York is published monthly. 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-
May
2024
June
2024
July
2024
July
2023
May
2024
June
2024

Expenditure category

All items

332.633334.782335.6424.10.90.3

All items (1967=100)

961.597967.807970.294   

Food and beverages

336.195337.999337.0191.60.2-0.3

Food

337.816339.650338.5771.70.2-0.3

Food at home

315.821318.218316.6800.70.3-0.5

Cereals and bakery products

375.430384.636384.0090.42.3-0.2

Meats, poultry, fish, and eggs

318.134320.379316.0400.5-0.7-1.4

Dairy and related products

270.367275.485276.7361.82.40.5

Fruits and vegetables

371.873369.985371.011-0.9-0.20.3

Nonalcoholic beverages and beverage materials(1)

316.656319.101315.023-0.8-0.5-1.3

Other food at home

288.399289.746288.5462.50.1-0.4

Food away from home

381.079381.956381.6793.50.2-0.1

Alcoholic beverages

307.713309.011309.552-0.10.60.2

Housing

361.040364.817366.5266.31.50.5

Shelter

453.975455.639457.6756.00.80.4

Rent of primary residence

460.059463.109465.6505.01.20.5

Owners' equivalent rent of residences(2)

469.120470.153472.3986.60.70.5

Owners' equivalent rent of primary residence(2)

468.539469.570471.8136.60.70.5

Fuels and utilities

247.851266.525267.95811.38.10.5

Household energy

237.380257.581259.07112.39.10.6

Energy services

224.482246.932248.00313.410.50.4

Electricity

224.137255.681256.24815.114.30.2

Utility (piped) gas service

211.229214.337216.3359.42.40.9

Household furnishings and operations

134.805137.367138.2135.02.50.6

Apparel

132.355132.820126.531-4.2-4.4-4.7

Transportation

288.572287.537291.8475.31.11.5

Private transportation

287.765286.507294.1185.42.22.7

New and used motor vehicles(3)

126.021124.639126.093-1.20.11.2

New vehicles(1)

258.977259.051258.706-0.4-0.1-0.1

Used cars and trucks(1)

355.058357.112354.756-9.4-0.1-0.7

Motor fuel

291.573282.253283.591-1.3-2.70.5

Gasoline (all types)

290.340281.048282.389-1.4-2.70.5

Gasoline, unleaded regular(4)

287.493277.862279.364-1.6-2.80.5

Gasoline, unleaded midgrade(4)(5)

308.766300.418300.459-0.4-2.70.0

Gasoline, unleaded premium(4)

315.437307.734308.2840.1-2.30.2

Medical care

558.999558.748553.980-2.4-0.9-0.9

Recreation(3)

153.730157.355157.7586.42.60.3

Education and communication(3)

159.899159.908160.5670.70.40.4

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

1,370.5141,373.5281,379.5410.70.70.4

Other goods and services

498.589496.284500.4222.60.40.8

Commodity and service group

All items

332.633334.782335.6424.10.90.3

Commodities

227.286228.293226.9970.3-0.1-0.6

Commodities less food and beverages

164.703165.297163.953-0.7-0.5-0.8

Nondurables less food and beverages

208.209207.505204.215-1.3-1.9-1.6

Durables

110.570111.940112.0990.11.40.1

Services

421.773424.883427.5545.81.40.6

Special aggregate indexes

All items less medical care

322.615324.840325.9024.51.00.3

All items less shelter

284.056286.418286.7942.81.00.1

Commodities less food

169.950170.567169.257-0.7-0.4-0.8

Nondurables

273.045273.586271.4280.4-0.6-0.8

Nondurables less food

214.177213.579210.486-1.2-1.7-1.4

Services less rent of shelter(2)

398.835403.763407.2955.62.10.9

Services less medical care services

407.665410.935413.9926.61.60.7

Energy

261.744271.499272.9617.14.30.5

All items less energy

342.242343.869344.6973.90.70.2

All items less food and energy

345.445347.046348.2124.30.80.3

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: Wednesday, August 14, 2024