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Wednesday, August 14, 2024
The Consumer Price Index for All Urban Consumers (CPI-U) for Tampa rose 0.5 percent from May to July, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Victoria G. Lee noted that the bi-monthly increase in the all items index was attributed to an increase in the shelter index. (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 2.4 percent for the 12 months ending in July. (See chart 1 and table A.) The index for all items less food and energy rose 3.0 percent over the past year. The food index continued to increase, up 1.4 percent over the last 12 months. In comparison, the energy index declined 3.2 percent over the past year. (See table 1.)
The food index declined 0.1 percent from May to July. The food at home index fell 0.6-percent over the same period. Four of the six major grocery store food group indexes decreased from May to July, including cereals and bakery products (-4.0 percent) and dairy and related products (-2.3 percent). In contrast, the index for other food at home rose 0.8 percent over the bi-monthly period.
The index for food away from home increased from May to July, up 0.7 percent.
The food index increased 1.4 percent for the 12 months ending in July, reflecting increases in the food at home (+1.2 percent) and food away from home (+1.6 percent) indexes. Within the food at home index, three of the six major grocery store food group indexes increased over the past year: other food at home (+2.8 percent), nonalcoholic beverages and beverage materials (+7.3 percent), and fruits and vegetables (+2.3 percent).
EnergyThe energy index fell 2.3 percent from May to July, reflecting declines in the electricity (-3.5 percent) and gasoline (-1.5 percent) indexes.
The energy index declined 3.2 percent for the 12 months ending in July, primarily due to a 9.9-percent decrease in the electricity index. In contrast, the index for gasoline rose 0.2 percent over the past year.
All items less food and energyThe index for all items less food and energy rose 0.7 percent from May to July. The shelter index rose 1.6 percent over the bi-monthly period, reflecting increases in the indexes for owners’ equivalent rent (+1.0 percent) and rent of primary residence (+0.9 percent). Other indexes with notable increases over the bi-monthly period include recreation (+1.2 percent) and household furnishings and operations (+1.1 percent).
The index for all items less food and energy increased 3.0 percent for the 12 months ending in July. The index for shelter (+6.8 percent) was the largest contributor as owners’ equivalent rent (+5.8 percent) and rent of primary residence (+7.4 percent) also increased over the past year. Notable indexes to decline over the last 12 months include education and communication (-5.8 percent) and used cars and trucks (-11.5 percent).
Month | 2020 | 2021 | 2022 | 2023 | 2024 | |||||
---|---|---|---|---|---|---|---|---|---|---|
2-month | 12-month | 2-month | 12-month | 2-month | 12-month | 2-month | 12-month | 2-month | 12-month | |
January | 0.7 | 3.8 | 0.9 | 3.4 | 2.4 | 9.6 | 1.7 | 8.9 | 0.5 | 3.9 |
March | 0.2 | 2.1 | 1.6 | 4.9 | 2.1 | 10.2 | 1.1 | 7.7 | 0.9 | 3.7 |
May | -0.3 | 0.9 | 1.0 | 6.2 | 2.1 | 11.3 | 1.7 | 7.3 | -0.1 | 1.8 |
July | 1.0 | 1.8 | 1.4 | 6.6 | 1.3 | 11.2 | -0.1 | 5.9 | 0.5 | 2.4 |
September | 1.4 | 3.3 | 1.0 | 6.1 | 0.3 | 10.5 | 1.1 | 6.7 | ||
November | 0.1 | 3.2 | 1.8 | 8.0 | 1.0 | 9.6 | -0.4 | 5.2 |
The Tampa-St. Petersburg-Clearwater Consumer Price Index for September 2024 is scheduled to be released on Thursday, October 10, 2024, at 8:30 a.m. (ET).
The Consumer Price Index for Atlanta 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 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 individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.
Item and Group | Indexes | Percent change from- | ||||
---|---|---|---|---|---|---|
May 2024 | Jun. 2024 | Jul. 2024 | Jul. 2023 | May 2024 | Jun. 2024 | |
Expenditure category | ||||||
All Items | 298.673 | - | 300.062 | 2.4 | 0.5 | - |
Food and beverages | 297.036 | - | 296.289 | 1.3 | -0.3 | - |
Food | 299.132 | - | 298.791 | 1.4 | -0.1 | - |
Food at home | 307.157 | 307.396 | 305.286 | 1.2 | -0.6 | -0.7 |
Cereals and bakery products | 329.207 | 341.647 | 315.887 | -2.8 | -4.0 | -7.5 |
Meats, poultry, fish, and eggs | 308.339 | 308.850 | 308.417 | -1.2 | 0.0 | -0.1 |
Dairy and related products | 285.406 | 295.994 | 278.959 | -1.0 | -2.3 | -5.8 |
Fruits and vegetables | 405.392 | 399.117 | 404.789 | 2.3 | -0.1 | 1.4 |
Nonalcoholic beverages and beverage materials | 227.915 | 212.546 | 227.249 | 7.3 | -0.3 | 6.9 |
Other food at home | 245.152 | 246.254 | 247.123 | 2.8 | 0.8 | 0.4 |
Food away from home | 288.088 | - | 290.157 | 1.6 | 0.7 | - |
Alcoholic beverages | 253.884 | - | 248.202 | 0.2 | -2.2 | - |
Housing | 328.262 | - | 332.254 | 4.7 | 1.2 | - |
Shelter | 387.620 | 393.041 | 393.773 | 6.8 | 1.6 | 0.2 |
Rent of primary residence | 401.974 | 403.643 | 405.661 | 7.4 | 0.9 | 0.5 |
Owners' equiv. rent of residences | 407.213 | 409.681 | 411.334 | 5.8 | 1.0 | 0.4 |
Owners' equiv. rent of primary residence | 407.213 | 409.681 | 411.334 | 5.8 | 1.0 | 0.4 |
Fuels and utilities | 259.105 | - | 253.369 | -4.8 | -2.2 | - |
Household energy | 202.125 | 195.544 | 195.578 | -9.2 | -3.2 | 0.0 |
Energy Services | 199.232 | 192.589 | 192.578 | -9.5 | -3.3 | 0.0 |
Electricity | 197.028 | 190.079 | 190.079 | -9.9 | -3.5 | 0.0 |
Utility (piped) gas service | - | - | - | - | - | - |
Household furnishings and operations | 154.295 | - | 156.017 | -2.7 | 1.1 | - |
Apparel | 138.451 | - | 137.809 | -3.1 | -0.5 | - |
Transportation | 267.710 | - | 265.427 | 0.5 | -0.9 | - |
Private transportation | 275.816 | - | 275.359 | 0.4 | -0.2 | - |
New and used motor vehicles(1) | 136.231 | - | 134.480 | -4.4 | -1.3 | - |
New vehicles | 148.885 | - | 148.744 | -2.3 | -0.1 | - |
Used cars and trucks | 167.805 | - | 166.728 | -11.5 | -0.6 | - |
Motor fuel | 376.070 | 354.572 | 370.430 | 0.2 | -1.5 | 4.5 |
Gasoline (all types) | 366.895 | 345.872 | 361.392 | 0.2 | -1.5 | 4.5 |
Unleaded regular(2) | 355.435 | 334.343 | 349.632 | 0.1 | -1.6 | 4.6 |
371.841 | 353.648 | 368.626 | 1.3 | -0.9 | 4.2 | |
Unleaded premium(2) | 408.650 | 390.130 | 405.654 | 1.3 | -0.7 | 4.0 |
Medical Care | 499.996 | - | 500.694 | 0.9 | 0.1 | - |
Recreation(1) | 137.775 | - | 139.363 | 3.2 | 1.2 | - |
Education and communication(1) | 132.509 | - | 132.907 | -5.8 | 0.3 | - |
Tuition, other school fees, and child care | - | - | 692.508 | 0.9 | - | - |
Other goods and services | 372.486 | - | 370.814 | 6.2 | -0.4 | - |
Commodity and service group | ||||||
All Items | 298.673 | - | 300.062 | 2.4 | 0.5 | - |
Commodities | 211.412 | - | 210.961 | -2.3 | -0.2 | - |
Commodities less food & beverages | 170.014 | - | 169.686 | -4.3 | -0.2 | - |
Nondurables less food & beverages | 245.254 | - | 245.901 | -0.4 | 0.3 | - |
Durables | 107.735 | - | 107.102 | -7.5 | -0.6 | - |
Services | 377.269 | - | 380.256 | 5.1 | 0.8 | - |
Special aggregate indexes | ||||||
All items less medical care | 287.795 | - | 289.219 | 2.6 | 0.5 | - |
All items less shelter | 261.312 | - | 260.658 | -0.2 | -0.3 | - |
Commodities less food | 173.918 | - | 173.459 | -4.1 | -0.3 | - |
Nondurables | 272.174 | - | 272.126 | 0.6 | 0.0 | - |
Nondurables less food | 245.792 | - | 245.996 | -0.3 | 0.1 | - |
Services less rent of shelter | 355.404 | - | 354.378 | 2.8 | -0.3 | - |
Services less medical care services | 363.628 | - | 366.758 | 5.4 | 0.9 | - |
Energy | 271.036 | 258.518 | 264.868 | -3.2 | -2.3 | 2.5 |
All items less energy | 300.605 | - | 302.554 | 2.8 | 0.6 | - |
All items less food and energy | 301.132 | - | 303.386 | 3.0 | 0.7 | - |
Footnotes | ||||||
- Data not available. |
Last Modified Date: Wednesday, August 14, 2024