Thursday, July 12, 2018
The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach was up 0.5 percent over the May-June pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the index for all items less food and energy increased 0.4 percent and the energy index rose 2.4 percent over the two months. The food index inched up 0.1 percent over the two-month pricing period. (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 increased 4.2 percent. The index for all items less food and energy also increased 4.2 percent over the year, while the energy index advanced 11.2 percent. The food index was up 1.0 percent since June 2017. (See chart 1 and table 1.)
The food index inched up 0.1 percent over the May-June pricing period. The food at home and the food away from home indexes inched up 0.1-percent each over the two-month pricing period.
Since June 2017, the food index increased 1.0 percent. The index for food away from home rose 1.8 percent over the year, and the index for food at home was up 0.4 percent.
The energy index rose 2.4 percent over the May-June pricing period, reflecting a 4.4-percent increase in the motor fuel index. The electricity index inched down 0.1 percent over the two months.
Over the year, the energy index advanced 11.2 percent, fueled by a 21.6-percent increase in the motor fuel index. The electricity index was unchanged from June 2017.
The index for all items less food and energy was up 0.4 percent over the May-June pricing period, led by a 1.1 percent increase in the shelter index. In contrast, the apparel index declined 5.9 percent over the two months.
From June 2017 to June 2018, the index for all items less food and energy advanced 4.2 percent. The indexes for shelter and medical care contributed to the increase, up 4.0 and 10.8 percent, respectively.
The Consumer Price Index for July 2018 is scheduled to be released on Friday, August 10, 2018.
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 population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 29 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 75 urban areas across the country from about 5,000 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 (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-West Palm Beach, FL, Core Based Statistical Area covered in this release is comprised of Broward, Miami-Dade, and Palm Beach 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
Cereals and bakery products
Meats, poultry, fish, and eggs
Dairy and related products
Fruits and vegetables
Nonalcoholic beverages and beverage materials(1)
Other food at home
Food away from home
Rent of primary residence(2)
Fuels and utilities
Utility (piped) gas service(2)
Household furnishings and operations
New and used motor vehicles(4)
Gasoline (all types)
Motor vehicle insurance(1)
Education and communication(4)
Tuition, other school fees, and child care(1)
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(3)
Services less medical care services
All items less energy
All items less food and energy
- Data not available.
Last Modified Date: Thursday, July 12, 2018