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18-1476-ATL
Thursday, September 13, 2018

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Consumer Price Index, Miami-Fort Lauderdale-West Palm Beach – August 2018

Area prices down 0.3 percent over the two months; up 3.6 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach was down 0.3 percent over the July-August pricing period, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the index for all items less food and energy edged down 0.3 percent and the energy index decreased 1.1 percent over the two months. The food index was unchanged over the two-month pricing period. (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 all items CPI-U increased 3.6 percent. The index for all items less food and energy rose 3.2 percent over the year, while the energy index advanced 11.2 percent. The food index was up 1.7 percent since August 2017. (See chart 1 and table 1.)

Food

The food index was unchanged over the July-August pricing period. The food away from home index increased 0.7 percent, while the food at home index decreased 0.5 percent over the two-month pricing period.

Since August 2017, the food index increased 1.7 percent, reflecting increases in the indexes for food away from home (2.1 percent) and food at home (1.4 percent).

Energy

The energy index decreased 1.1 percent over the July-August pricing period, led by a 1.4-percent decrease in the motor fuel index. The electricity index was down 0.6 percent over the two months.

Over the year, the energy index advanced 11.2 percent, fueled by a 22.5-percent increase in the motor fuel index. The electricity index was down 0.6 percent from August 2017.

All items less food and energy

The index for all items less food and energy was down 0.3 percent over the July-August pricing period, reflecting decreases in the apparel (-2.4 percent) and the medical care (-0.5 percent) indexes.

From August 2017 to August 2018, the index for all items less food and energy advanced 3.2 percent. The indexes for shelter and medical care contributed to the increase, up 2.8 and 10.8 percent, respectively.

Table A. Miami-Fort Lauderdale-West Palm Beach, FL, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2014 2015 2016 2017 2018
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

1.2 1.6 0.3 0.4 0.2 1.6 1.3 4.0 2.6 3.2

April

0.7 2.5 0.8 0.5 0.7 1.4 -0.5 2.8 -0.1 3.5

June

-0.3 2.4 0.4 1.2 0.6 1.6 -0.2 2.0 0.5 4.2

August

-0.1 2.4 0.0 1.3 0.0 1.6 0.3 2.3 -0.3 3.6

October

0.4 2.2 0.2 1.1 0.5 1.9 1.0 2.7

December

-0.6 1.4 -0.1 1.6 0.8 2.9 -0.1 1.8

The Consumer Price Index for September 2018 is scheduled to be released on Thursday, October 11, 2018.


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 93 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers 29 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 75 urban areas across the country from about 5,000 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 (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-West Palm Beach, FL, Core Based Statistical Area covered in this release is comprised of Broward, Miami-Dade, and Palm Beach 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-West Palm Beach, FL (1982-84=100 unless otherwise noted)
Item and Group

Indexes Percent change from-
Jun.
2018
Jul.
2018
Aug.
2018
Aug.
2017
Jun.
2018
Jul.
2018

Expenditure category

All Items

265.973 - 265.062 3.6 -0.3 -

All items (November 1977=100)

428.712 - 427.244 - - -

Food and beverages

264.188 - 264.395 1.8 0.1 -

Food

266.812 - 266.835 1.7 0.0 -

Food at home

255.975 256.147 254.676 1.4 -0.5 -0.6

Cereals and bakery products

280.175 - 269.691 - -3.7 -

Meats, poultry, fish, and eggs

247.148 - 244.452 - -1.1 -

Dairy and related products

218.621 - 221.293 - 1.2 -

Fruits and vegetables

343.025 - 342.707 - -0.1 -

Nonalcoholic beverages and beverage materials(1)

245.669 - 251.912 - 2.5 -

Other food at home

212.043 - 210.750 - -0.6 -

Food away from home

286.872 - 288.941 2.1 0.7 -

Alcoholic beverages

229.761 - 232.265 3.8 1.1 -

Housing

274.317 - 274.293 2.5 0.0 -

Shelter

314.930 313.996 314.784 2.8 0.0 0.3

Rent of primary residence

308.871 308.909 309.482 2.9 0.2 0.2

Owners' equiv. rent of residences(2)

316.622 317.475 318.199 3.4 0.5 0.2

Owners' equiv. rent of primary residence(2)

316.622 317.475 318.199 3.4 0.5 0.2

Fuels and utilities

178.181 - 177.307 0.6 -0.5 -

Household energy

152.628 151.841 151.674 -0.6 -0.6 -0.1

Energy services

149.650 148.802 148.697 -0.7 -0.6 -0.1

Electricity

146.592 145.733 145.729 -0.6 -0.6 0.0

Utility (piped) gas service

- - - - - -

Household furnishings and operations

158.981 - 160.698 1.2 1.1 -

Apparel

140.219 - 136.825 -8.9 -2.4 -

Transportation

231.922 - 227.699 9.9 -1.8 -

Private transportation

236.841 - 235.032 11.7 -0.8 -

New and used motor vehicles(3)

117.376 - 115.716 - -1.4 -

New vehicles(1)

228.066 - 226.916 - -0.5 -

Used vehicles(1)

295.607 - 299.712 - 1.4 -

Motor fuel

255.624 249.684 251.977 22.5 -1.4 0.9

Gasoline (all types)

252.622 246.757 249.045 22.5 -1.4 0.9

Unleaded regular(4)

249.500 243.266 245.630 23.1 -1.6 1.0

Unleaded midgrade(4)(5)

245.164 242.045 243.887 19.3 -0.5 0.8

Unleaded premium(4)

267.566 264.855 266.395 18.2 -0.4 0.6

Motor vehicle insurance(1)

887.478 - 896.254 - 1.0 -

Medical Care

558.458 - 555.906 10.8 -0.5 -

Recreation(3)

120.393 - 121.017 1.0 0.5 -

Education and communication(3)

120.140 - 120.389 0.3 0.2 -

Tuition, other school fees, and child care(1)

954.486 - 976.790 - 2.3 -

Other goods and services

350.895 - 353.246 2.0 0.7 -

Commodity and service group

All Items

265.973 - 265.062 3.6 -0.3 -

Commodities

207.421 - 206.405 2.5 -0.5 -

Commodities less food & beverages

172.856 - 171.252 3.0 -0.9 -

Nondurables less food & beverages

211.704 - 209.617 5.2 -1.0 -

Durables

130.133 - 129.078 -1.4 -0.8 -

Services

310.955 - 310.110 4.1 -0.3 -

Special aggregate indexes

All items less medical care

253.594 - 252.751 3.0 -0.3 -

All items less shelter

240.073 - 238.770 4.1 -0.5 -

Commodities less food

175.096 - 173.640 3.0 -0.8 -

Nondurables

240.438 - 239.438 3.3 -0.4 -

Nondurables less food

212.833 - 211.041 5.1 -0.8 -

Services less rent of shelter(2)

313.977 - 312.107 6.3 -0.6 -

Services less medical care services

293.512 - 292.767 3.1 -0.3 -

Energy

198.830 195.738 196.670 11.2 -1.1 0.5

All items less energy

273.533 - 272.762 3.0 -0.3 -

All items less food and energy

274.575 - 273.668 3.2 -0.3 -

Footnotes
(1) Indexes on a November 1977=100 base.
(2) Indexes on a November 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.
NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

 

Last Modified Date: Thursday, September 13, 2018