Friday, July 15, 2016
The Consumer Price Index for All Urban Consumers (CPI-U) for Miami increased 0.6 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the rise of the overall index was led by a 5.5-percent increase in the energy index. Over the two month pricing period, the all items less food and energy index and the food index each edged up 0.2 percent. (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 CPI-U rose 1.6 percent. The index for all items less food and energy advanced 2.9 percent over the year as several categories recorded increases, most notably shelter. (See chart 1 and table 1.)
The food index rose 0.2 percent in June as prices for both food at home and food away from home edged up 0.2 percent each.
Since June 2015, the food index advanced 1.0 percent, reflecting higher prices for food away from home (3.1 percent). The food at home index edged down 0.3 percent over the year.
The energy index advanced 5.5 percent during the two month pricing period, led by a 10.8-percent increase in motor fuel prices. During this same period, prices for electricity edged up 0.2 percent, while prices for utility (piped) gas service were unchanged.
Over the year, the energy index fell 10.5 percent, led by a 14.4-percent drop in motor fuel prices. Since June 2015, prices for both electricity and utility (piped) gas service declined 6.5 percent each.
The index for all items less food and energy edged up 0.2 percent in June, as a price increase for medical care (1.7 percent) was largely offset by a 3.7-percent seasonal decline in apparel prices.
Since June 2015, the index for all items less food and energy advanced 2.9 percent, reflecting increases in the shelter and medical care indexes, up 4.4 and 2.6 percent respectively.
The Consumer Price Index for July 2016 is scheduled to be released on Tuesday, August 16, 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: Friday, July 15, 2016