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17-61-ATL
Wednesday, January 18, 2017

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Consumer Price Index, Miami-Fort Lauderdale – December 2016

Area prices up 0.8 percent over the two months and 2.9 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami was up 0.8 percent over the November-December pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index rose 1.1 percent. Over the two-month pricing period, the food index decreased 0.5 percent, while the energy index was unchanged. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Over the last 12 months, the CPI-U rose 2.9 percent. The index for all items less food and energy advanced 3.7 percent over the year reflecting price increases for shelter and medical care. (See chart 1 and table 1.)

Food

The food index declined 0.5 percent during the November-December pricing period as food at home prices decreased 1.1 percent. Prices for food away from home edged up 0.2 percent over the two months.

Since December 2015—the food index edged down 0.3 percent—led by a 2.2-percent decrease in the food at home index. The food away from home index advanced 2.3 percent over the year.

Energy

The energy index was unchanged over the November-December pricing period. Prices for motor fuel edged down 0.3-percent, while prices for electricity and utility (piped) gas service rose 0.2 and 3.1 percent, respectively.

Over the year, the energy index rose 0.4 percent, led by a 7.4-percent increase in motor fuel prices. Since December 2015, prices declined 6.5 percent for electricity and 2.8 percent for utility (piped) gas service.

All items less food and energy

The index for all items less food and energy rose 1.1 percent during the November-December pricing period. Over the two months, price increases for medical care (8.7 percent) and shelter (1.3 percent), were partially offset by a seasonal price decline for apparel (-4.2 percent).

From December 2015 to December 2016, the index for all items less food and energy advanced 3.7 percent, led by increases for shelter (4.5 percent) and medical care (9.2 percent).

Table A. Miami CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2012 2013 2014 2015 2016
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.0 2.9 1.5 1.9 1.2 1.6 0.3 0.4 0.2 1.6

April

0.9 2.0 -0.2 0.9 0.7 2.5 0.8 0.5 0.7 1.4

June

-0.9 1.2 -0.1 1.6 -0.3 2.4 0.4 1.2 0.6 1.6

August

0.9 1.4 -0.2 0.6 -0.1 2.4 0.0 1.3 0.0 1.6

October

0.3 2.0 0.6 0.9 0.4 2.2 0.2 1.1 0.5 1.9

December

-0.7 1.4 0.2 1.9 -0.6 1.4 -0.1 1.6 0.8 2.9

The Consumer Price Index for January 2017 is scheduled to be released on Wednesday, February 15, 2017.


Technical Note

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 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 28 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 87 urban areas across the country from about 6,000 housing units and approximately 24,000 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, Fl. consolidated area covered in this release is comprised of Broward and Miami-Dade 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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods
Miami-Fort Lauderdale, FL (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Oct.
2016
Nov.
2016
Dec.
2016
Dec.
2015
Oct.
2016
Nov.
2016

Expenditure category

 
 

All Items

251.571 - 253.629 2.9 0.8 -

All items (November 1977=100)

405.497 - 408.815 - - -

Food and beverages

258.579 - 257.276 -0.3 -0.5 -

Food

261.035 - 259.616 -0.3 -0.5 -

Food at home

253.046 255.346 250.336 -2.2 -1.1 -2.0

Food away from home

276.630 - 277.179 2.3 0.2 -

Alcoholic beverages

225.511 - 225.833 -0.4 0.1 -

Housing

257.876 - 260.582 3.3 1.0 -

Shelter

295.103 297.460 298.996 4.5 1.3 0.5

Rent of primary residence(1)

290.855 292.047 293.167 5.8 0.8 0.4

Owners' equiv. rent of residences(1)(2)

295.788 298.328 299.267 4.3 1.2 0.3

Owners' equiv. rent of primary residence(1)(2)

295.788 298.328 299.267 4.3 1.2 0.3

Fuels and utilities

163.926 - 164.351 -4.2 0.3 -

Household energy

139.072 139.425 139.498 -6.3 0.3 0.1

Energy services(1)

136.329 136.645 136.721 -6.3 0.3 0.1

Electricity(1)

133.086 133.339 133.339 -6.5 0.2 0.0

Utility (piped) gas service(1)

190.321 193.047 196.234 -2.8 3.1 1.7

Household furnishings and operations

161.135 - 159.080 -0.7 -1.3 -

Apparel

141.037 - 135.053 3.4 -4.2 -

Transportation

217.570 - 218.074 5.0 0.2 -

Private transportation

220.510 - 222.154 5.4 0.7 -

Motor fuel

208.355 201.814 207.788 7.4 -0.3 3.0

Gasoline (all types)

205.958 199.468 205.381 7.4 -0.3 3.0

Unleaded regular(3)

202.707 195.960 202.080 7.8 -0.3 3.1

Unleaded midgrade(3)(4)

204.440 198.344 204.846 5.1 0.2 3.3

Unleaded premium(3)

223.581 220.030 223.240 5.1 -0.2 1.5

Medical Care

464.399 - 504.656 9.2 8.7 -

Recreation(5)

116.305 - 116.166 2.0 -0.1 -

Education and communication(5)

126.546 - 124.885 -3.1 -1.3 -

Other goods and services

344.221 - 343.873 0.8 -0.1 -
 

Commodity and service group

 
 

All Items

251.571 - 253.629 2.9 0.8 -

Commodities

198.698 - 200.442 2.9 0.9 -

Commodities less food & beverages

162.776 - 166.097 5.8 2.0 -

Nondurables less food & beverages

191.802 - 197.261 7.6 2.8 -

Durables

132.603 - 133.133 2.1 0.4 -

Services

292.340 - 294.649 2.8 0.8 -
 

Special aggregate indexes

 
 

All items less medical care

242.270 - 242.971 2.4 0.3 -

All items less shelter

228.640 - 229.718 1.7 0.5 -

Commodities less food

165.227 - 168.453 5.5 2.0 -

Nondurables

227.215 - 229.446 3.1 1.0 -

Nondurables less food

193.937 - 199.103 7.0 2.7 -

Services less rent of shelter(2)

296.458 - 296.441 0.4 0.0 -

Services less medical care services

278.911 - 280.869 2.9 0.7 -

Energy

170.104 167.499 170.107 0.4 0.0 1.6

All items less energy

260.831 - 263.135 3.0 0.9 -

All items less food and energy

260.687 - 263.637 3.7 1.1 -

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Index is on a November 1982=100 base.
(3) Special index based on a substantially smaller sample.
(4) Indexes on a December 1993=100 base.
(5) Indexes on a December 1997=100 base.
 

- Data not available.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Wednesday, January 18, 2017