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Friday, May 12, 2017

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Consumer Price Index, Miami-Fort Lauderdale – April 2017

Area prices down 0.5 percent over the two months; up 2.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami decreased 0.5 percent over the March-April 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 declined 0.7 percent. Over the two month pricing period, the food index was down 0.2 percent, while the energy index was up 1.8 percent. (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 2.8 percent. The index for all items less food and energy increased 2.4 percent and the energy index advanced 12.1 percent over the year. The food index inched up 0.1 percent since April 2016. (See chart 1 and table 1.)

Food

The food index edged down 0.2 percent during the March-April pricing period. Prices for food at home declined 1.0 percent, while prices for food away from home increased 1.1 percent over the two months.

Since April 2016, the food index inched up 0.1 percent as a 2.5 percent increase in the food away from home index was largely offset by a 1.5 percent decline in the food at home index.

Energy

The energy index increased 1.8 percent during the two month pricing period, led by a 3.5-percent increase in motor fuel prices. During this same period, prices for utility (piped) gas service rose 1.7 percent and prices for electricity inched up 0.1 percent.

Over the year, the energy index advanced 12.1 percent, reflecting price increases for motor fuel (14.7 percent), electricity (9.6 percent), and for utility (piped) gas service (5.5 percent).

All items less food and energy

The index for all items less food and energy declined 0.7 percent during the March-April pricing period. Price increases for apparel (10.3 percent) and recreation (1.8 percent), were partially offset by a price decrease for education and communication (-2.9 percent).

Since April 2016, the index for all items less food and energy advanced 2.4 percent, reflecting a 4.0 percent increase in the shelter index and a 10.5 percent increase in the medical care index.

Table A. Miami CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2013 2014 2015 2016 2017
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.5 1.9 1.2 1.6 0.3 0.4 0.2 1.6 1.3 4.0

April

-0.2 0.9 0.7 2.5 0.8 0.5 0.7 1.4 -0.5 2.8

June

-0.1 1.6 -0.3 2.4 0.4 1.2 0.6 1.6    

August

-0.2 0.6 -0.1 2.4 0.0 1.3 0.0 1.6    

October

0.6 0.9 0.4 2.2 0.2 1.1 0.5 1.9    

December

0.2 1.9 -0.6 1.4 -0.1 1.6 0.8 2.9    

The Consumer Price Index for May 2017 is scheduled to be released on Wednesday, June 14, 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-
Feb.
2017
Mar.
2017
Apr.
2017
Apr.
2016
Feb.
2017
Mar.
2017

Expenditure category

 
 

All Items

256.890 - 255.708 2.8 -0.5 -

All items (November 1977=100)

414.070 - 412.166 - - -

Food and beverages

259.877 - 259.295 0.1 -0.2 -

Food

262.099 - 261.685 0.1 -0.2 -

Food at home

253.838 252.433 251.221 -1.5 -1.0 -0.5

Food away from home

278.124 - 281.096 2.5 1.1 -

Alcoholic beverages

230.131 - 227.160 0.0 -1.3 -

Housing

263.924 - 264.299 4.2 0.1 -

Shelter

301.118 302.199 301.230 4.0 0.0 -0.3

Rent of primary residence(1)

294.536 295.441 295.815 4.9 0.4 0.1

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

300.651 302.029 302.708 3.9 0.7 0.2

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

300.651 302.029 302.708 3.9 0.7 0.2

Fuels and utilities

175.967 - 176.240 7.9 0.2 -

Household energy

152.415 152.519 152.539 9.4 0.1 0.0

Energy services(1)

149.576 149.672 149.738 9.5 0.1 0.0

Electricity(1)

146.243 146.340 146.326 9.6 0.1 0.0

Utility (piped) gas service(1)

199.507 199.519 202.801 5.5 1.7 1.6

Household furnishings and operations

159.662 - 162.071 1.1 1.5 -

Apparel

135.250 - 149.182 3.6 10.3 -

Transportation

223.327 - 212.243 0.1 -5.0 -

Private transportation

227.008 - 214.358 -0.4 -5.6 -

Motor fuel

213.562 215.012 221.082 14.7 3.5 2.8

Gasoline (all types)

211.097 212.542 218.569 14.7 3.5 2.8

Unleaded regular(3)

207.652 209.062 215.310 15.1 3.7 3.0

Unleaded midgrade(3)(4)

211.170 213.257 217.435 13.6 3.0 2.0

Unleaded premium(3)

229.769 231.253 235.230 12.0 2.4 1.7

Medical Care

506.738 - 508.244 10.5 0.3 -

Recreation(5)

120.137 - 122.254 4.9 1.8 -

Education and communication(5)

125.021 - 121.414 -4.9 -2.9 -

Other goods and services

341.753 - 346.274 1.7 1.3 -
 

Commodity and service group

 
 

All Items

256.890 - 255.708 2.8 -0.5 -

Commodities

201.807 - 204.334 3.9 1.3 -

Commodities less food & beverages

166.777 - 170.898 7.1 2.5 -

Nondurables less food & beverages

198.307 - 205.417 10.0 3.6 -

Durables

133.343 - 133.522 1.2 0.1 -

Services

299.273 - 295.515 2.3 -1.3 -
 

Special aggregate indexes

 
 

All items less medical care

246.250 - 244.982 2.3 -0.5 -

All items less shelter

233.595 - 231.717 2.0 -0.8 -

Commodities less food

169.258 - 173.146 6.7 2.3 -

Nondurables

231.268 - 234.720 4.4 1.5 -

Nondurables less food

200.338 - 206.872 9.3 3.3 -

Services less rent of shelter(2)

304.877 - 295.148 -0.2 -3.2 -

Services less medical care services

285.432 - 281.416 2.2 -1.4 -

Energy

180.074 180.757 183.376 12.1 1.8 1.4

All items less energy

265.566 - 263.839 2.1 -0.7 -

All items less food and energy

266.058 - 264.104 2.4 -0.7 -

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: Friday, May 12, 2017