Prices in the Boston area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.7 percent over the two months ending in September 2024, after a 0.5-percent decline during the prior two-month period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley attributed the September upturn to higher prices for apparel, shelter, and food. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U increased 3.4 percent. (See chart 1 and table A.) The index for all items less food and energy increased 4.2 percent over the year, largely influenced by shelter prices, and food prices rose 1.1 percent. Energy prices, on the other hand, declined 1.7 percent. (See table 1.)

  

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Chart 1. Over-the-year percent change in CPI-U, Boston-Cambridge-Newton, MA-NH, September 2021–September 2024

Month	All items	All items less food and energy
Sep 2021	4.0	2.7
Nov 2021	5.3	3.3
Jan 2022	6.3	4.7
Mar 2022	7.3	5.2
May 2022	7.5	4.9
Jul 2022	7.0	3.9
Sep 2022	8.1	5.9
Nov 2022	7.0	4.7
Jan 2023	6.4	4.6
Mar 2023	4.7	4.1
May 2023	3.6	4.3
Jul 2023	2.8	4.0
Sep 2023	2.6	3.0
Nov 2023	2.4	3.4
Jan 2024	2.0	3.0
Mar 2024	3.3	4.4
May 2024	4.0	4.5
Jul 2024	3.5	3.7
Sep 2024	3.4	4.2

Food prices advanced 1.0 percent during the August-September pricing period, after edging up 0.2 percent during the prior two months. Higher prices for full-service meals and snacks contributed to a 1.6-percent increase in prices for food away from home. Prices for food at home rose 0.5 percent, with price increases in three of the six grocery categories.

Over the year, the food index rose 1.1 percent. Away-from-home food prices increased 2.8 percent, and at-home food prices ticked up 0.1 percent.

The energy index decreased 4.3 percent over the two-month pricing period, largely due to a 7.9-percent fall in prices for gasoline. Household energy prices were also down (-1.3 percent), with lower prices for natural gas (-1.7 percent) and fuel oil. In contrast, electricity charges increased 0.4 percent.

For the year ended in September, the energy index declined 1.7 percent. A 13.8-percent drop in gasoline prices was partially offset by a 6.1-percent rise in household energy prices. Within household energy, price increases for electricity (8.4 percent) and natural gas (14.0 percent) were tempered by a price decrease for fuel oil.

The index for all items less food and energy rose 1.0 percent during the August-September pricing period. Apparel registered a seasonal increase (10.5 percent), the largest 2-month increase published since September 2019. Shelter prices rose 0.5 percent, with declining prices for lodging away from home partly offsetting rising prices for owners’ equivalent rent (1.8 percent) and rent of primary residence (1.3 percent). Other items with price increases contributing to the 2-month change included airline fares, motor vehicle insurance, college tuition and fees, and medical care.

From September 2023 to September 2024, the index for all items less food and energy increased 4.2 percent, primarily reflecting higher prices for shelter (6.1 percent). Within shelter, owners’ equivalent rent advanced 6.8 percent, and rent of primary residence rose 6.5 percent. The 12-month change was also influenced by price increases for motor vehicle insurance and medical care.

The Consumer Price Index for November 2024 is scheduled to be released on Wednesday, December 11, 2024, at 8:30 a.m. (ET).