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Friday, January 12, 2018

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Consumer Price Index for Tampa-St. Petersburg-Clearwater – Second Half 2017

Local prices up 2.2 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) in the Tampa-St. Petersburg-Clearwater area rose 2.2 percent from the second half of 2016 to the second half of 2017, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the all items less food and energy index was up 2.0 percent compared to its second half 2016 level as price increases were noted for several categories, most notably shelter. Food prices increased 2.4 percent over the year and energy prices advanced 5.1 percent. (See chart 1)

Food

The food index increased 2.4 percent since the second half of 2016, led by a 3.6-percent increase in prices for food at home. Prices for food away from home rose 0.6 percent over-the-year.

Energy

The energy index advanced 5.1 percent from the second half of 2016 to the second half of 2017, primarily due to a 9.5-percent increase in motor fuel prices. Electricty prices were up 0.8 percent over-the-year.

All items less food and energy

The index for all items less food and energy increased 2.0 percent since the second half of 2016. Several components contributed to the increase, most notably—shelter (5.2 percent).

The Consumer Price Index for January 2018 is scheduled to be released on Wednesday, February 14, 2018.

Consumer Price Index Geographic Revision for 2018

In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). This index will change to a bimonthly publication schedule beginning in January, 2018. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: www.bls.gov/cpi/georevision2018.htm.


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 Tampa-St. Petersburg-Clearwater, Fla. metropolitan statistical area covered in this release is comprised of Hernando, Hillsborough, Pasco, and Pinellas 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 for semiannual averages and percent changes for selected periods
Tampa-St. Petersburg-Clearwater, FL (1987=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to 2nd half 2017 from-
2nd half
2016
1st half
2017
2nd half
2017
2nd half
2016
1st half
2017

Expenditure category

 
 

All Items

215.572 218.529 220.394 2.2 0.9

Food and beverages

218.520 218.801 223.461 2.3 2.1

Food

218.701 219.101 223.940 2.4 2.2

Food at home

221.633 223.026 229.572 3.6 2.9

Food away from home

214.258 213.200 215.531 0.6 1.1

Alcoholic beverages

202.079 200.435 201.937 -0.1 0.7

Housing

209.174 214.364 218.468 4.4 1.9

Shelter

236.797 243.314 249.170 5.2 2.4

Rent of primary residence(1)

240.583 246.918 251.433 4.5 1.8

Owners' equiv. rent of residences(1)

249.076 256.641 262.854 5.5 2.4

Owners' equiv. rent of primary residence(1)

249.076 256.641 262.854 5.5 2.4

Fuels and utilities

205.253 206.492 206.902 0.8 0.2

Household energy

163.559 164.606 164.856 0.8 0.2

Energy services(1)

161.356 162.241 162.515 0.7 0.2

Electricity(1)

158.557 159.491 159.753 0.8 0.2

Utility (piped) gas service(1)

238.949 238.235 NA - -

Household furnishings and operations

112.303 114.823 114.438 1.9 -0.3

Apparel

163.256 159.283 145.888 -10.6 -8.4

Transportation

185.371 191.520 193.268 4.3 0.9

Private transportation

189.100 195.553 197.258 4.3 0.9

Motor fuel

232.185 248.708 254.167 9.5 2.2

Gasoline (all types)

227.879 244.509 249.297 9.4 2.0

Unleaded regular(2)

220.766 237.067 241.810 9.5 2.0

Unleaded midgrade(2)(3)

212.346 226.082 228.368 7.5 1.0

Unleaded premium(2)

250.500 267.339 272.476 8.8 1.9

Medical Care

NA 409.086 401.388 - -1.9

Recreation(4)

122.998 122.932 122.884 -0.1 0.0

Education and communication(4)

142.254 139.357 138.755 -2.5 -0.4

Other goods and services

294.320 292.864 292.393 -0.7 -0.2
 

Commodity and service group

 
 

All Items

215.572 218.529 220.394 2.2 0.9

Commodities

170.376 170.770 170.841 0.3 0.0

Commodities less food & beverages

144.989 145.434 143.269 -1.2 -1.5

Nondurables less food & beverages

209.102 208.092 204.911 -2.0 -1.5

Durables

90.686 91.958 90.638 -0.1 -1.4

Services

255.699 260.959 264.436 3.4 1.3
 

Special aggregate indexes

 
 

All items less medical care

205.431 208.481 210.787 2.6 1.1

All items less shelter

207.261 208.632 208.711 0.7 0.0

Commodities less food

148.111 148.501 146.417 -1.1 -1.4

Nondurables

213.386 213.083 214.189 0.4 0.5

Nondurables less food

208.712 207.659 204.788 -1.9 -1.4

Services less rent of shelter

275.580 278.978 279.158 1.3 0.1

Services less medical care services

241.521 246.129 250.606 3.8 1.8

Energy

189.853 197.181 199.545 5.1 1.2

All items less energy

217.436 220.041 221.864 2.0 0.8

All items less food and energy

217.478 220.506 221.757 2.0 0.6

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) Special index based on a substantially smaller sample.
(3) Indexes on a December 1993=100 base.
(4) Indexes on a December 1997=100 base.
NA Data not adequate for publication.
- Data not available
 

NOTE: Data not seasonally adjusted.
 

 

Last Modified Date: Friday, January 12, 2018