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News Release Information

24-1153-ATL
Wednesday, June 12, 2024

Contacts Technical information: Media contact:
  • (404) 893-4220

Consumer Price Index, Tampa-St. Petersburg-Clearwater — May 2024

Area prices down 0.1 percent over the two months; up 1.8 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Tampa declined 0.1 percent from March to May, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Victoria G. Lee noted that several indexes declined over the two-month period, including medical care, education and communication, and household furnishing and operations. (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 1.8 percent for the 12 months ending in May. (See chart 1 and table A.) The index for all items less food and energy rose 2.0 percent over the past year. The food index continued to increase, up 2.1 percent over the last 12 months. In comparison, the energy index declined 0.7 percent over the past year. (See table 1.)


Food

The food index rose 2.0 percent from March to May, led by a 2.0-percent increase in the food at home index as all six major grocery store food group indexes increased over the bi-monthly period. The index for food away from home also increased from March to May, up 1.9 percent.

The food index increased 2.1 percent for the 12 months ending in May, reflecting increases in the food at home (+2.3 percent) and food away from home (+1.8 percent) indexes. Within the food at home index, four of the six major grocery store food group indexes increased over the past year: other food at home, nonalcoholic beverages and beverage materials, fruits and vegetables, and dairy and related products.   

Energy

The energy index rose 0.7 percent from March to May, reflecting a 1.4-percent increase in the gasoline index. The index for electricity was unchanged over the bi-monthly period.

The energy index declined 0.7 percent for the 12 months ending in May, primarily due to a 6.6-percent decrease in the electricity index. In contrast, the index for gasoline increased 2.1 percent over the past year.

All items less food and energy

The index for all items less food and energy declined 0.5 percent from March to May. Several indexes declined over the bi-monthly period, including medical care (-1.8 percent), education and communication (-1.9 percent), and household furnishings and operations (-2.3 percent).

The shelter index rose 0.2 percent from March to May. The index for owners’ equivalent rent rose 0.3 percent over the bi-monthly period, while the index for rent of primary residence rose 0.9 percent over the same reference period.   

The index for all items less food and energy increased 2.0 percent for the 12 months ending in May. The index for shelter (+5.0 percent) was the largest contributor as owners’ equivalent rent (+4.4 percent) and rent of primary residence (+6.7 percent) also increased over the past year. Among the indexes to decline over the last 12 months include education and communication (-9.2 percent), used cars and trucks (-10.4 percent), and apparel (-5.9 percent).  

Table A. Tampa-St. Petersburg-Clearwater, FL, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
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

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 July 2024 is scheduled to be released on Wednesday, August 14, 2024, at 8:30 a.m. (ET).


Technical Note

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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods,
Tampa-St. Petersburg-Clearwater, FL (1987=100 unless otherwise noted) (not seasonally adjusted)
Item and Group

Indexes Percent change from-
Mar.
2024
Apr.
2024
May
2024
May
2023
Mar.
2024
Apr.
2024

Expenditure category

All Items

299.030 - 298.673 1.8 -0.1 -

Food and beverages

291.308 - 297.036 1.9 2.0 -

Food

293.326 - 299.132 2.1 2.0 -

Food at home

301.075 308.570 307.157 2.3 2.0 -0.5

Cereals and bakery products

317.093 331.481 329.207 -1.6 3.8 -0.7

Meats, poultry, fish, and eggs

305.405 303.642 308.339 -1.3 1.0 1.5

Dairy and related products

283.554 294.672 285.406 3.0 0.7 -3.1

Fruits and vegetables

403.731 409.258 405.392 3.2 0.4 -0.9

Nonalcoholic beverages and beverage materials

219.292 225.683 227.915 6.0 3.9 1.0

Other food at home

238.712 247.672 245.152 5.0 2.7 -1.0

Food away from home

282.687 - 288.088 1.8 1.9 -

Alcoholic beverages

249.454 - 253.884 -0.2 1.8 -

Housing

328.430 - 328.262 4.0 -0.1 -

Shelter

386.851 388.601 387.620 5.0 0.2 -0.3

Rent of primary residence

398.379 401.789 401.974 6.7 0.9 0.0

Owners' equiv. rent of residences

406.179 408.384 407.213 4.4 0.3 -0.3

Owners' equiv. rent of primary residence

406.179 408.384 407.213 4.4 0.3 -0.3

Fuels and utilities

259.256 - 259.105 -2.7 -0.1 -

Household energy

202.297 - 202.125 -6.2 -0.1 -

Energy Services

199.288 - 199.232 -6.4 0.0 -

Electricity

197.001 - 197.028 -6.6 0.0 -

Utility (piped) gas service

- - - - - -

Household furnishings and operations

157.909 - 154.295 1.5 -2.3 -

Apparel

141.549 - 138.451 -5.9 -2.2 -

Transportation

267.971 - 267.710 0.8 -0.1 -

Private transportation

277.187 - 275.816 0.9 -0.5 -

New and used motor vehicles(1)

138.586 - 136.231 -3.0 -1.7 -

New vehicles

149.528 - 148.885 -2.0 -0.4 -

Used cars and trucks

167.642 - 167.805 -10.4 0.1 -

Motor fuel

370.905 377.957 376.070 2.1 1.4 -0.5

Gasoline (all types)

361.672 368.713 366.895 2.1 1.4 -0.5

Unleaded regular(2)

350.311 357.291 355.435 2.2 1.5 -0.5

Unleaded midgrade(2)(3)

366.279 373.060 371.841 2.1 1.5 -0.3

Unleaded premium(2)

403.331 410.072 408.650 2.0 1.3 -0.3

Medical Care

508.917 - 499.996 0.6 -1.8 -

Recreation(1)

138.431 - 137.775 0.3 -0.5 -

Education and communication(1)

135.014 - 132.509 -9.2 -1.9 -

Tuition, other school fees, and child care

- - - - - -

Other goods and services

370.116 - 372.486 7.3 0.6 -

Commodity and service group

All Items

299.030 - 298.673 1.8 -0.1 -

Commodities

212.065 - 211.412 -1.8 -0.3 -

Commodities less food & beverages

172.664 - 170.014 -3.8 -1.5 -

Nondurables less food & beverages

248.512 - 245.254 -0.8 -1.3 -

Durables

109.629 - 107.735 -6.4 -1.7 -

Services

377.378 - 377.269 4.0 0.0 -

Special aggregate indexes

All items less medical care

287.705 - 287.795 2.0 0.0 -

All items less shelter

262.155 - 261.312 -0.1 -0.3 -

Commodities less food

176.429 - 173.918 -3.7 -1.4 -

Nondurables

270.945 - 272.174 0.7 0.5 -

Nondurables less food

248.511 - 245.792 -0.8 -1.1 -

Services less rent of shelter

356.591 - 355.404 2.4 -0.3 -

Services less medical care services

363.540 - 363.628 4.3 0.0 -

Energy

269.077 272.770 271.036 -0.7 0.7 -0.6

All items less energy

301.134 - 300.605 2.0 -0.2 -

All items less food and energy

302.500 - 301.132 2.0 -0.5 -

Footnotes
(1) Indexes on a December 1997=100 base.
(2) Special index based on a substantially smaller sample.
(3) Indexes on a December 1993=100 base.

- Data not available.

 

Last Modified Date: Wednesday, June 12, 2024