The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach rose 1.0 percent from February to April, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Victoria G. Lee noted that the bi-monthly increase in the all items index was largely attributed to increases in the shelter and gasoline indexes. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.)

The all items CPI-U increased 4.5 percent for the 12 months ending in April. (See chart 1 and table A.) The index for all items less food and energy advanced 5.8 percent over the past year. The food index continued to increase, up 0.8 percent over the last 12 months. In contrast, the energy index declined 5.0 percent over the past year. (See table 1.)

  

View Chart Data

Chart 1. Over-the-year percent change in CPI-U, Miami-Fort Lauderdale-West Palm Beach, FL, April 2021–April 2024

Month	All items	All items less food and energy
Apr 2021	4.1	2.8
Jun 2021	5.1	3.9
Aug 2021	4.2	3.6
Oct 2021	5.7	4.5
Dec 2021	7.1	6.0
Feb 2022	9.3	8.3
Apr 2022	9.1	7.5
Jun 2022	10.1	7.9
Aug 2022	10.2	9.3
Oct 2022	9.6	9.7
Dec 2022	9.9	10.4
Feb 2023	9.2	9.7
Apr 2023	9.0	10.5
Jun 2023	6.9	9.6
Aug 2023	7.8	8.6
Oct 2023	7.4	8.0
Dec 2023	5.7	6.2
Feb 2024	4.9	5.8
Apr 2024	4.5	5.8

The food index rose 0.1 percent from February to April. The index for food away from home continued to increase over the bi-monthly period, up 1.5-percent. In comparison, the food at home index fell 0.5 percent over the same period. Three of the six major grocery store food group indexes declined from February to April, led by a 5.4-percent decrease in the index for cereals and bakery products.

The food index increased 0.8 percent for the 12 months ending in April, reflecting a 4.5-percent increase in the food away from home index. In contrast, the index for food at home declined 0.6 percent over the 12-month period. Four of the six major grocery store food group indexes declined over the past year, including cereals and bakery products (-4.8 percent) and other food at home (-2.4 percent). In comparison, the indexes for nonalcoholic beverages and beverage materials increased 5.7 percent over the past year, while the index for fruits and vegetable rose 2.1 percent over the 12-month span.  

The energy index rose 1.9 percent from February to April, reflecting a 7.7-percent increase in the gasoline index. The electricity index declined 5.0 percent over the two-month period. The index for natural gas also declined from February to April, down 2.4 percent.  

The energy index fell 5.0 percent for the 12 months ending in April, led by an 11.1-percent fall in the electricity index. The gasoline index decreased 0.9 percent over the past year, while the index for natural gas rose 2.1 percent over the same period. 

The index for all items less food and energy rose 1.0 percent from February to April. The increase was largely attributed to an increase in the shelter index (+1.4 percent). The index for owners’ equivalent rent increased 1.5 percent over the bi-monthly period, while the index for rent of primary residence increased 1.4 percent.

The index for all items less food and energy advanced 5.8 percent for the 12 months ending in April. The index for shelter continued to increase over the past year, up 7.1 percent, and was the largest factor in the 12-month increase in the index for all items less food and energy. The index for owners’ equivalent rent rose 7.2 percent over the past year, as did the index for rent of primary residence.  

The Miami-Fort Lauderdale-West Palm Beach Consumer Price Index for June 2024 is scheduled to be released on Thursday, July 11, 2024, at 8:30 a.m. (ET).

The Consumer Price Index for Miami is published bi-monthly. 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 U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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, 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 6,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000.  Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.

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 is comprised of Broward County, Miami-Dade County, and Palm Beach County.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.