News Release Information
Thursday, February 26, 2015
Consumer Price Index, Dallas-Fort Worth – January 2015
Area prices fall 1.1 percent during two-month period, down 0.6 percent over the year
The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth fell 1.1 percent in December-January, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that the decline was the result of falling energy prices, particularly a 29.1-percent decrease in gasoline prices. Partially offsetting this decrease, the index for all items less food and energy rose 0.3 percent and food prices edged up 0.2 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 all items CPI-U declined 0.6 percent. (See chart 1.) This marked the first annual decline registered for the overall index since the year ending in November 2010 when prices decreased 0.4 percent. The index for all items less food and energy rose 1.2 percent over the year. (See table 1.)
Food prices edged up 0.2 percent in December and January, after registering little change in October and November. Among the two components of the index, prices for food at home (grocery stores) rose 0.4 percent, while prices for food away from home were little changed, down 0.1 percent.
From January 2014 to January 2015, the food index rose 2.3 percent, reflecting price increases for both food at home (3.0 percent) and food away from home (1.3 percent).
The energy index fell 14.4 percent in December and January following an 11.6-percent decrease in October and November. The current decline was primarily the result of a 29.1-percent decrease in gasoline prices, the largest negative price movement for this index since November and December 2008 (-48.4 percent). Also contributing to the current decrease were lower prices for natural gas, down 2.7 percent. In contrast, a 1.4-percent increase in electricity prices moderated the overall change in the energy index.
Over the year, the energy index decreased 19.3 percent. As with the bimonthly decline, the leading factor in the annual decrease was lower motor fuel costs, as gasoline prices fell 40.1-percent from January 2014. Partially offsetting the gasoline decline, natural gas costs rose 11.9 percent and electricity prices increased 7.1 percent during the period.
All items less food and energy
The index for all items less food and energy advanced 0.3 percent in December and January. Among the leading factors in the advance were higher prices for shelter (0.9 percent), medical care (2.6 percent), and recreation (1.0 percent). Slowing these gains, apparel prices declined 4.2 percent during the period.
From January 2014 to January 2015, the index for all items less food and energy advanced 1.2 percent. The biggest factor was a 3.3-percent advance in shelter costs, though higher prices for medical care (up 4.2 percent) also contributed. Countering a portion of these annual increases, the cost of apparel fell 5.8 percent and education and communication prices declined 2.4 percent from January 2014.
The March 2015 Consumer Price Index for All Items for Dallas-Fort Worth will be released Friday, April 17, 2015.
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 4,000 housing units and approximately 26,000 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/homch17_a.htm.
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 Dallas-Fort Worth, Texas, Consolidated Metropolitan Statistical Area (CMSA) includes Collin, Dallas, Denton, Ellis, Henderson, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, and Tarrant Counties.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.
|Item and Group||Indexes||Percent change from -|
All items (1967 = 100)
Food and beverages
Food at home
Food away from home
Rent of primary residence (1)
Fuels and utilities
Utility (piped) gas service (1)
Household furnishings and operations
Gasoline (all types)
Gasoline, unleaded regular (4)
Gasoline, unleaded premium (4)
Education and communication (6)
Other goods and services
COMMODITY AND SERVICE GROUP
Commodities less food and beverages
Nondurables less food and beverages
SPECIAL AGGREGATE INDEXES
All items less shelter
All items less medical care
Commodities less food
Nondurables less food
Services less rent of shelter (2)
Services less medical care services
All items less energy
All items less food and energy
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Thursday, February 26, 2015