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Wednesday, March 15, 2017

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Consumer Price Index, South Region – February 2017

Prices up 0.2 percent over the month and 2.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for the South edged up 0.2 percent in February, the U.S. Bureau of Labor Statistics reported today. The all items less food and energy index rose 0.4 percent over the month. The food index inched up 0.1 percent, while the energy index declined 1.1 percent in February. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

The all items CPI-U advanced 2.8 percent since February 2016. The all items less food and energy index increased 2.2 percent over the last 12 months and the energy index increased 15.4 percent, its largest 12-month increase since September 2011. In contrast, the food index was unchanged over the past year. (See chart 1.)

Food

The food index inched up 0.1 percent in February, led by an increase in the food at home index (0.2 percent). The food away from home index was unchanged over the month.

The food index was unchanged over the year. The food at home index fell 1.5 percent since February 2016, while the food away from home index was up 2.0 percent.

Energy

The energy index declined 1.1 percent in February, led by a 3.2-pecent decline in the motor fuel index. The electricity index was up 0.8 percent and the utility (piped) gas service index advanced 1.3 percent over the month.

From February 2015—February 2016, energy prices advanced 15.4 percent, reflecting price increases for motor fuel (32.4 percent), electricity (2.3 percent), and utility (piped) gas service (15.7 percent).

All items less food and energy

The all items less food and energy index was up 0.4 percent in February. Several categories recorded increases, most notably medical care (1.5 percent), shelter (0.3 percent), and apparel (1.6 percent).

Since February 2016, the all items less food and energy index advanced 2.2 percent—led by increases in shelter (3.0 percent) and medical care (5.1 percent).

Table A. South region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2013 2014 2015 2016 2017
1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month

January

0.4 1.6 0.3 1.7 -0.7 -0.4 0.0 1.2 0.5 2.6

February

0.9 1.8 0.4 1.2 0.5 -0.3 0.1 0.7 0.2 2.8

March

0.3 1.5 0.6 1.5 0.6 -0.3 0.6 0.7    

April

-0.2 0.9 0.5 2.3 0.3 -0.6 0.4 0.9    

May

0.0 1.3 0.2 2.4 0.4 -0.4 0.4 0.9    

June

0.4 1.9 0.2 2.3 0.5 -0.1 0.4 0.8    

July

0.2 2.2 -0.1 2.0 -0.1 -0.1 -0.2 0.7    

August

0.1 1.7 -0.2 1.7 -0.2 -0.2 0.1 1.0    

September

0.0 1.3 0.1 1.7 -0.2 -0.4 0.2 1.4    

October

-0.2 1.3 -0.3 1.6 0.0 -0.1 0.1 1.5    

November

-0.3 1.5 -0.6 1.3 -0.2 0.3 -0.1 1.6    

December

0.1 1.8 -0.6 0.6 -0.4 0.5 0.1 2.0    

The Consumer Price Index for March 2017 is scheduled to be released on Friday, April 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 https://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 South region is comprised of Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

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
South (1982-84=100 unless otherwise noted)
Item and Group

 
Indexes
 
Percent change from-
Dec.
2016
Jan.
2017
Feb.
2017
Feb.
2016
Dec.
2016
Jan.
2017

Expenditure category

 
 

All Items

234.204 235.492 236.052 2.8 0.8 0.2

All items (December 1977=100)

379.912 382.001 382.908 - - -

Food and beverages

245.520 246.452 246.796 0.0 0.5 0.1

Food

246.747 247.693 248.056 0.0 0.5 0.1

Food at home

235.233 236.101 236.647 -1.5 0.6 0.2

Food away from home

266.747 267.820 267.916 2.0 0.4 0.0

Alcoholic beverages

228.026 228.750 228.805 0.8 0.3 0.0

Housing

227.697 228.679 229.355 2.8 0.7 0.3

Shelter

261.061 261.775 262.560 3.0 0.6 0.3

Rent of primary residence(1)

270.779 271.433 272.144 3.6 0.5 0.3

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

263.599 264.106 264.575 2.9 0.4 0.2

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

263.588 264.095 264.566 2.9 0.4 0.2

Fuels and utilities

226.973 229.891 231.397 3.7 1.9 0.7

Household energy

182.833 185.703 187.268 4.0 2.4 0.8

Energy services(1)

183.116 185.954 187.538 3.9 2.4 0.9

Electricity(1)

180.898 183.384 184.826 2.3 2.2 0.8

Utility (piped) gas service(1)

182.862 187.842 190.252 15.7 4.0 1.3

Household furnishings and operations

121.013 121.672 121.403 -0.4 0.3 -0.2

Apparel

132.997 131.261 133.371 0.9 0.3 1.6

Transportation

197.939 201.201 200.134 7.4 1.1 -0.5

Private transportation

196.169 199.549 198.310 7.9 1.1 -0.6

New and used motor vehicles(3)

101.741 102.490 102.557 -1.0 0.8 0.1

New vehicles

153.638 155.821 155.457 0.4 1.2 -0.2

New cars and trucks(3)(4)

104.653 106.164 105.899 0.4 1.2 -0.2

New cars(4)

153.872 156.147 155.754 0.3 1.2 -0.3

Used cars and trucks

138.051 138.088 138.625 -4.2 0.4 0.4

Motor fuel

191.344 200.901 194.500 32.4 1.6 -3.2

Gasoline (all types)

190.368 199.933 193.474 32.5 1.6 -3.2

Unleaded regular(4)

185.594 195.212 188.604 33.6 1.6 -3.4

Unleaded midgrade(4)(5)

210.919 219.859 214.617 29.1 1.8 -2.4

Unleaded premium(4)

210.550 218.880 214.032 26.5 1.7 -2.2

Medical care

448.393 451.354 458.149 5.1 2.2 1.5

Medical care commodities

364.080 367.199 368.535 5.4 1.2 0.4

Medical care services

476.493 479.353 488.257 5.0 2.5 1.9

Professional services

368.037 367.591 368.344 2.6 0.1 0.2

Recreation(3)

116.351 116.842 117.675 0.6 1.1 0.7

Education and communication(3)

136.085 136.461 135.664 -1.0 -0.3 -0.6

Other goods and services

418.568 416.620 417.039 1.5 -0.4 0.1
 

Commodity and service group

 
 

All Items

234.204 235.492 236.052 2.8 0.8 0.2

Commodities

179.734 181.182 180.946 2.3 0.7 -0.1

Commodities less food and beverages

148.572 150.187 149.726 3.9 0.8 -0.3

Nondurables less food and beverages

191.577 193.840 192.789 8.5 0.6 -0.5

Nondurables less food, beverages, and apparel

228.060 232.541 229.755 11.1 0.7 -1.2

Durables

108.248 109.293 109.289 -1.5 1.0 0.0

Services

289.007 290.153 291.485 3.1 0.9 0.5

Rent of shelter(2)

267.954 268.694 269.510 3.0 0.6 0.3

Transportation services

334.999 336.274 338.266 5.8 1.0 0.6

Other services

339.068 339.880 340.022 0.7 0.3 0.0
 

Special aggregate indexes

 
 

All items less medical care

222.512 223.712 223.978 2.6 0.7 0.1

All items less food

232.042 233.381 233.970 3.3 0.8 0.3

All items less shelter

224.763 226.297 226.767 2.7 0.9 0.2

Commodities less food

151.020 152.619 152.169 3.8 0.8 -0.3

Nondurables

217.142 218.767 218.383 3.8 0.6 -0.2

Nondurables less food

193.420 195.601 194.608 8.0 0.6 -0.5

Nondurables less food and apparel

226.961 231.118 228.574 10.2 0.7 -1.1

Services less rent of shelter(2)

324.513 326.209 328.239 3.1 1.1 0.6

Services less medical care services

272.110 273.123 273.929 2.9 0.7 0.3

Energy

182.769 188.535 186.545 15.4 2.1 -1.1

All items less energy

240.722 241.521 242.363 1.8 0.7 0.3

All items less food and energy

240.074 240.848 241.776 2.2 0.7 0.4

Commodities less food and energy commodities

146.754 147.256 147.622 -0.2 0.6 0.2

Energy commodities

194.807 204.425 198.078 31.7 1.7 -3.1

Services less energy services

300.196 301.145 302.444 3.0 0.7 0.4

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 December 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.
 

- Data not available.
Regions defined as the four Census regions. South includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.
 

 

Last Modified Date: Wednesday, March 15, 2017