Wednesday, March 16, 2016
The Consumer Price Index for All Urban Consumers (CPI-U) for Miami edged up 0.2 percent over the January-February pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index increased 0.9 percent and the food index rose 0.7 percent over the two months. During this same period, the energy index decreased 7.7 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
Food prices rose 0.7 percent during the January-February pricing period, as prices increased for both food at home and food away from home, up 1.1 and 0.3 percent, respectively.
From February 2015 to February 2016, the food index advanced 1.6 percent, as prices increased for food away from home (2.8 percent) and food at home (0.9 percent).
The energy index declined 7.7 percent during the two month pricing period, primarily due to a 12.6-percent drop in the motor fuel index. Price decreases were also recorded for electricity and utility (piped) gas service, down 3.0 and 0.6 percent, respectively.
Over the year, the energy index fell 12.2 percent, as price decreases were recorded for motor fuel (-19.2 percent), electricity (-5.2 percent), and utility (piped) gas service (-1.4 percent).
The index for all items less food and energy rose 0.9 percent over the January-February pricing period as price increases were recorded for shelter (0.7 percent), apparel (5.9 percent), and recreation (1.6 percent).
Since February 2015, the index for all items less food and energy advanced 3.0 percent. Over the year price increases were noted for several categories, most notably shelter and medical care, up 4.3 and 4.7 percent, respectively.
The Consumer Price Index for March 2016 is scheduled to be released on Thursday, April 14, 2016.
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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 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 87 urban areas across the country from about 6,000 housing units and approximately 24,000 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 Miami-Fort Lauderdale, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade Counties in Florida.
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.
|Item and Group||Indexes||Percent change from-|
All items (November 1977=100)
Food and beverages
Food at home
Food away from home
Rent of primary residence (1)
Fuels and utilities
Energy services (1)
Utility (piped) gas service (1)
Household furnishings and operations
Gasoline (all types)
Unleaded regular (3)
Unleaded premium (3)
Education and communication (5)
Other goods and services
Commodity and service group
Commodities less food & beverages
Nondurables less food & beverages
Special aggregate indexes
All items less medical care
All items less shelter
Commodities less food
Nondurables less food
Services less rent of shelter (2)
Services less medical care services
All items less energy
All items less food and energy
- Data not available.
Last Modified Date: Wednesday, March 16, 2016