The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach declined 0.4 percent from April to June, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Victoria G. Lee noted that the bi-monthly decrease in the all items index was attributed to declines in the gasoline, recreation, and electricity 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 3.5 percent for the 12 months ending in June. (See chart 1 and table A.) The index for all items less food and energy advanced 4.6 percent over the past year. The food index also increased over the last 12 months, up 0.7 percent. In contrast, the energy index declined 5.8 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, June 2021–June 2024

Month	All items	All items less food and energy
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
Jun 2024	3.5	4.6

The food index rose 0.1 percent from April to June, reflecting a 0.8-percent increase in the food at home index. Three of the six major grocery store food group indexes increased over the bi-monthly period, most notable, cereals and bakery products (+9.2 percent). The remaining three major grocery store food group indexes declined from April to June, led by a 2.3-percent decline in the meats, poultry, fish, and eggs index.

The index for food away from declined 1.4 percent from April to June.

The food index increased 0.7 percent for the 12 months ending in June, reflecting increases in the food away from home (+1.8 percent) and food at home (+0.3 percent) indexes. The six major grocery store food group indexes were split over the year, with three increases and three decreases. Cereals and bakery products (+5.6 percent) and nonalcoholic beverages and beverage materials (+5.5 percent) were among the indexes to increase over the past year, while the index for meats, poultry, fish, and eggs (-3.6 percent) was among the indexes to decline over the last 12 months.

The energy index fell 5.3 percent from April to June, largely reflecting declines in the gasoline (-5.4 percent) and electricity (-5.2 percent) indexes. The index for natural gas was little changed over the bi-monthly period, down 0.2 percent.

The energy index declined 5.8 percent for the 12 months ending in June, led by a 12.6-percent fall in the electricity index. The index for gasoline (-0.9 percent) and the index for natural gas (-2.9 percent) also declined over the past year.

The index for all items less food and energy declined 0.1 percent from April to June. The recreation index was the largest contributor, down 2.9 percent over the bi-monthly period. Other indexes with notable declines over the past two months include education and communication (-0.8 percent) and other goods and services (-1.6 percent).

Medical care (+3.7 percent), shelter (+0.3 percent), and household furnishings and operations (+1.8 percent) were among the indexes to increase from April to June. Within shelter, the index for owners’ equivalent rent increased 1.0 percent from April to June, while the index for rent of primary residence rose 0.6 percent over the same period.   

The index for all items less food and energy advanced 4.6 percent for the 12 months ending in June. The index for shelter (+5.8 percent) was the largest contributor as the index for owners’ equivalent (+6.4 percent) and the index for rent of primary residence (+6.0 percent) also increased over the past year.

The Miami-Fort Lauderdale-West Palm Beach Consumer Price Index for August 2024 is scheduled to be released on Wednesday, September 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.