Thursday, November 12, 2020
The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach rose 0.1 percent from August to October, 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 edged up 0.3 percent over the bi-monthly period, while the energy index rose 0.8 percent. The food index declined 1.3 percent from August to October. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.)
The all items CPI-U rose 1.0 percent for the 12 months ending in October. The index for all items less food and energy rose 1.1 percent over the past year, while the food index advanced 6.9 percent. In contrast, the energy index fell 8.5 percent over the past 12 months. (See chart 1 and table 1.)
The food index declined 1.3 percent from August to October, reflecting a 2.4-percent decrease in the food at home index. The food away from home index rose 0.2 percent over the bi-monthly period.
The food index advanced 6.9 percent for the 12 months ending in October, led by a 10.3-percent jump in the food at home index. The food away from home index also increased over the past 12 months, up 2.3 percent.
The energy index rose 0.8 percent from August to October, reflecting a 1.5-percent increase in the gasoline index. In contrast, the utility (piped) gas service index edged down 0.3 percent over the bi-monthly period. The electricity index was unchanged from August to October.
The energy index fell 8.5 percent for the 12 months ending in October, led by a 12.7-percent decline in the gasoline index. The electricity index also declined, down 3.3 percent over the past 12 months.
The index for all items less food and energy rose 0.3 percent from August to October, led by increases in the shelter (0.7 percent) and apparel (5.4 percent) indexes. Medical care (-1.2 percent) was among the indexes to decline over the bi-monthly period.
The index for all items less food and energy advanced 1.1 percent for the 12 months ending in October, reflecting a 2.0-percent increase in the shelter index. The used cars and trucks index jumped 11.0 percent over the past 12 months, while the medical care index increased 2.2 percent.
The Consumer Price Index for November 2020 is scheduled to be released on Thursday, December 10, 2020.
Data collection by personal visit for the Consumer Price Index (CPI) program has been suspended since March 16, 2020. When possible, data normally collected by personal visit were collected either online or by phone. Additionally, data collection in October was affected by the temporary closing or limited operations of certain types of establishments. These factors resulted in an increase in the number of prices considered temporarily unavailable and imputed. While the CPI program attempted to collect as much data as possible, many indexes are based on smaller amounts of collected prices than usual, and a small number of indexes that are normally published were not published this month. Additional information is available at www.bls.gov/covid19/effects-of-covid-19-pandemic-on-consumer-price-index.htm.
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
Owners' equiv. rent of residences(2)
Owners' equiv. rent of primary residence(2)
Fuels and utilities
Utility (piped) gas service
Household furnishings and operations
New and used motor vehicles(3)
Used cars and trucks(1)
Gasoline (all types)
Motor vehicle insurance(1)
Education and communication(3)
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(2)
Services less medical care services
All items less energy
All items less food and energy
- Data not available.
Last Modified Date: Thursday, November 12, 2020