Wednesday, August 12, 2020
The Consumer Price Index for All Urban Consumers (CPI-U) for Tampa-St. Petersburg-Clearwater increased 1.0 percent from May to July, 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 rose 0.8 percent since May, while the energy index advanced 9.2 percent. The food index declined 0.8 percent over the bi-monthly period. (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 1.8 percent from July 2019 to July 2020. The index for all items less food and energy advanced 2.5 percent over the past 12 months, while the food index jumped 6.9 percent. The energy index fell 15.9 percent over the past year. (See table 1.)
The food index declined 0.8 percent from May to July, led by a 1.2-percent decline in the food at home index. The food away from home index edged down 0.2 percent over the bi-monthly period.
The food index jumped 6.9 percent for the 12 months ending in July, reflecting increases in the food at home (10.0 percent) and food away from home (3.2 percent) indexes.
The energy index advanced 9.2 percent from May to July, influenced by gains in the gasoline (14.1 percent) and electricity (6.0 percent) indexes. The utility (piped) gas service index declined 5.1 percent over the bi-monthly period.
The energy index declined 15.9 percent for the 12 months ending in July. The gasoline index fell 22.9 percent over the past year, while the electricity and utility (piped) gas service indexes each declined 8.6 percent.
The index for all items less food and energy rose 0.8 percent from May to July. Several indexes increased since May, including shelter (1.1 percent), medical care (3.8 percent), and motor vehicle insurance (17.8 percent).
The index for all items less food and energy advanced 2.5 percent for the 12 months ending in July. Increases in the shelter (4.1 percent) and medical care (7.4 percent) indexes contributed to the over-the-year increase. In contrast, the apparel index fell 13.5 percent over the past year.
The Consumer Price Index for August 2020 is scheduled to be released on Friday, September 11, 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 July 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 Tampa-St. Petersburg-Clearwater, FL Core Based Statistical Area includes Hernando, Hillsborough, Pasco, and Pinellas Counties.
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-|
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
Other food at home
Food away from home
Rent of primary residence
Owners' equiv. rent of residences
Owners' equiv. rent of primary residence
Fuels and utilities
Utility (piped) gas service
Household furnishings and operations
New and used motor vehicles(1)
Used cars and trucks
Gasoline (all types)
Motor vehicle insurance
Education and communication(1)
Tuition, other school fees, and child care
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
Services less medical care services
All items less energy
All items less food and energy
- Data not available.
Last Modified Date: Wednesday, August 12, 2020