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News Release Information

24-1899-BOS
Wednesday, September 11, 2024

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

Consumer Price Index, New York-Newark-Jersey City — August 2024

Area prices up 0.3 percent over the past month; up 3.7 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the New York-Newark-Jersey City area increased 0.3 percent for the second consecutive month in August, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that a decline in energy prices was outweighed by a rise in prices for non-food items such as shelter and apparel. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the last 12 months, the New York area all items CPI-U increased 3.7 percent. (See chart 1 and table A). The index for all items less food and energy advanced 4.4 percent, and food prices rose 1.9 percent. In contrast, energy prices ticked down 0.1 percent. (See table 1.)

Food

Food prices were flat in August after declining 0.3 percent in July. A 0.1-percent increase in prices for food away from home was offset by a 0.1-percent decrease in prices for food at home. Four of the six grocery categories had lower prices in August; food products with higher prices included meats, poultry, fish, and eggs, as well as fruits and vegetables. 

Over the year, the food index increased 1.9 percent. Away-from-home food prices rose 3.2 percent, while at-home food prices increased 1.0 percent compared to last August.

Energy

The energy index was down 3.7 percent in August following a 0.5-percent increase in July. Prices for household energy declined 4.0 percent with lower prices for electricity (-4.4 percent), natural gas (-3.4 percent), and fuel oil. Gasoline prices fell 3.2 percent. 

From August 2023 to August 2024, the New York area energy index inched down 0.1 percent. A 9.1-percent fall in gasoline prices outweighed a 5.3-percent rise in household energy prices. Within household energy, electricity prices increased 9.1 percent, and natural gas prices rose 3.4 percent.

All items less food and energy

The index for all items less food and energy advanced 0.6 percent in August. A 0.6-percent increase in shelter reflected higher prices for owners’ equivalent rent (0.6 percent), rent of primary residence (0.4 percent), and lodging away from home. A seasonal price increase buoyed the apparel index 5.1 percent. Prices for recreation rose 1.2 percent. Prices for education and communication increased 0.3 percent with a 0.8-percent rise in tuition, other school fees, and childcare. 

Over the year, the index for all items less food and energy increased 4.4 percent. Shelter prices were up 6.0 percent, with increases of 6.5 percent for owners’ equivalent rent and 5.0 percent for rent of primary residence. Recreation prices were 7.0 percent higher than they were last August. Higher prices for motor vehicle insurance also contributed to the index movement. On the other hand, prices declined for medical care (-1.9 percent) and for new and used motor vehicles (-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

-0.11.40.13.70.26.60.63.50.33.7

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 Consumer Price Index for September 2024 is scheduled to be released on Thursday, October 10, 2024, at 8:30 a.m. (ET).


Technical Note

The Consumer Price Index (CPI) for New York is published monthly. The Consumer Price Index 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, 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
2024
July
2024
Aug.
2024
Aug.
2023
June
2024
July
2024

Expenditure category

All items

334.782335.642336.5343.70.50.3

All items (1967=100)

967.807970.294972.873   

Food and beverages

337.999337.019337.0211.8-0.30.0

Food

339.650338.577338.6491.9-0.30.0

Food at home

318.218316.680316.5181.0-0.5-0.1

Cereals and bakery products

384.636384.009382.795-0.1-0.5-0.3

Meats, poultry, fish, and eggs

320.379316.040322.0483.60.51.9

Dairy and related products

275.485276.736276.1362.30.2-0.2

Fruits and vegetables

369.985371.011375.0240.71.41.1

Nonalcoholic beverages and beverage materials(1)

319.101315.023310.368-1.6-2.7-1.5

Other food at home

289.746288.546282.9210.2-2.4-1.9

Food away from home

381.956381.679382.1623.20.10.1

Alcoholic beverages

309.011309.552308.4190.2-0.2-0.4

Housing

364.817366.526367.4695.90.70.3

Shelter

455.639457.675460.5736.01.10.6

Rent of primary residence

463.109465.650467.6135.01.00.4

Owners' equivalent rent of residences(2)

470.153472.398475.1396.51.10.6

Owners' equivalent rent of primary residence(2)

469.570471.813474.5516.51.10.6

Fuels and utilities

266.525267.958258.7145.3-2.9-3.4

Household energy

257.581259.071248.6485.3-3.5-4.0

Energy services

246.932248.003237.8237.4-3.7-4.1

Electricity

255.681256.248244.9519.1-4.2-4.4

Utility (piped) gas service

214.337216.335208.9923.4-2.5-3.4

Household furnishings and operations

137.367138.213138.4135.10.80.1

Apparel

132.820126.531133.004-2.90.15.1

Transportation

287.537291.847290.3773.31.0-0.5

Private transportation

286.507294.118292.5693.12.1-0.5

New and used motor vehicles(3)

124.639126.093125.462-2.40.7-0.5

New vehicles(1)

259.051258.706258.024-0.8-0.4-0.3

Used cars and trucks(1)

357.112354.756352.319-8.6-1.3-0.7

Motor fuel

282.253283.591274.586-9.0-2.7-3.2

Gasoline (all types)

281.048282.389273.419-9.1-2.7-3.2

Gasoline, unleaded regular(4)

277.862279.364270.018-9.5-2.8-3.3

Gasoline, unleaded midgrade(4)(5)

300.418300.459292.696-7.2-2.6-2.6

Gasoline, unleaded premium(4)

307.734308.284301.128-6.2-2.1-2.3

Medical care

558.748553.980554.664-1.9-0.70.1

Recreation(3)

157.355157.758159.7217.01.51.2

Education and communication(3)

159.908160.567161.0860.80.70.3

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

1,373.5281,379.5411,390.2670.81.20.8

Other goods and services

496.284500.422494.9942.4-0.3-1.1

Commodity and service group

All items

334.782335.642336.5343.70.50.3

Commodities

228.293226.997227.359-0.3-0.40.2

Commodities less food and beverages

165.297163.953164.446-1.9-0.50.3

Nondurables less food and beverages

207.505204.215205.828-3.3-0.80.8

Durables

111.940112.099111.7690.0-0.2-0.3

Services

424.883427.554428.8935.60.90.3

Special aggregate indexes

All items less medical care

324.840325.902326.7974.10.60.3

All items less shelter

286.418286.794286.8582.20.20.0

Commodities less food

170.567169.257169.714-1.9-0.50.3

Nondurables

273.586271.428272.248-0.4-0.50.3

Nondurables less food

213.579210.486211.956-3.1-0.80.7

Services less rent of shelter(2)

403.763407.295406.8025.00.8-0.1

Services less medical care services

410.935413.992415.3066.31.10.3

Energy

271.499272.961262.861-0.1-3.2-3.7

All items less energy

343.869344.697346.3974.00.70.5

All items less food and energy

347.046348.212350.2084.40.90.6

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 11, 2024