Thursday, June 18, 2015
The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth rose 0.5 percent in April and May, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that a 6.3-percent advance in energy prices was partially offset by a 0.1-percent dip in the index for all items less food and energy; food prices were unchanged during the period. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
During the 12 months ended in May 2015, the all items CPI-U fell 0.5 percent, the third consecutive decline for the overall index. (See chart 1.) In contrast, the index for all items less food and energy rose 1.6 percent over the year. (See table 1.)
Food prices were unchanged in April and May, after decreasing 0.4 percent in the previous two-month period. Opposing movements were registered by the two components of the index as prices for food at home (grocery store prices) decreased 0.4 percent while prices for food away from home increased 0.4 percent.
From May 2014 to May 2015, the food index rose 1.2 percent, reflecting the combined effects of a 2.5-percent price rise for food away from home and a 0.3-percent price rise at grocery stores.
The energy index rose 6.3 percent in April and May, following a 5.2-percent increase in February and March. The current advance was the result of a 14.4-percent rise in gasoline prices. Partially offsetting the gasoline price increase were lower household energy costs, as prices for natural gas and electricity decreased 2.2 and 0.5 percent, respectively.
Despite the bimonthly rise, the energy index registered an 18.0-percent decrease during the year ended in May 2015, as prices fell for each of the energy components. A 25.7-percent drop in gasoline prices was the biggest factor in the decrease, but natural gas costs also fell, down 34.0 percent during the last 12 months, and electricity prices declined 3.0 percent.
The index for all items less food and energy was little changed in April and May, slipping 0.1 percent, as a result of differing movements among the sub-components of the index. A 6.8-percent decline in apparel prices had the greatest impact on the current dip, though smaller declines in household furnishings and operations (-1.2 percent) and education and communication (-0.9 percent) also contributed. Largely countering these decreases were higher prices for other goods and services (1.3 percent), shelter (0.7 percent), and recreation (0.6 percent).
From May 2014 to May 2015, the index for all items less food and energy advanced 1.6 percent. The biggest factor in the annual increase was a 4.0-percent rise in shelter costs, as the indexes rose for both renters’ costs (4.6 percent) and owners’ equivalent rent (3.2 percent). Another large contributor was a 5.8-percent rise in medical care prices. Among the components slowing these gains were a 2.5-percent decline for apparel prices, as well as annual decreases for education and communication, and household furnishings and operations (both down 2.2 percent).
The July 2015 Consumer Price Index for All Items for Dallas-Fort Worth is scheduled to be released Wednesday, August 19, 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 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/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: (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
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
Note: Index applies to a month as a whole, not to any specific date.
Last Modified Date: Thursday, June 18, 2015