Wednesday, August 19, 2015
The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth was little changed in June and July, edging up 0.1 percent, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Stanley W. Suchman noted that a 2.1-percent increase in energy costs was nearly balanced by a 0.4-percent decline in food prices and no change in the index for all items less food and energy. (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 July 2015, the all items CPI-U fell 0.4 percent, the fourth consecutive period of annual declines 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 fell 0.4 percent in June and July, after remaining unchanged 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 1.0 percent while prices for food away from home increased 0.4 percent.
From July 2014 to July 2015, the food index rose 0.9 percent, reflecting the combined effects of a 2.8-percent price rise for food away from home and a 0.6-percent price decline at grocery stores. This period marked the first annual decrease in grocery store prices since December 2010 (-0.1 percent).
The energy index rose 2.1 percent in June and July, following a 6.3-percent increase in April and May. The current advance was the result of a 5.3-percent increase in household energy costs as higher prices were recorded for both natural gas and electricity, up 25.7 and 2.9 percent, respectively. This was the first bimonthly increase in natural gas prices since June and July 2014. Offsetting a portion of these advances, motor fuel costs decreased 1.0 percent during the period.
Despite the bimonthly rise in overall energy costs, the index registered a 16.8-percent decrease during the year ended in July 2015, as prices fell for all three energy components. A 26.4-percent drop in motor fuel prices was the biggest factor in the decrease, but natural gas costs also fell, down 17.5 percent during the last 12 months, and electricity prices declined 1.9 percent.
The index for all items less food and energy was unchanged in June and July, reflecting opposing movements among the sub-components. Shelter prices advanced 0.5 percent during the period, with increases registered for both renters’ costs and owners’ equivalent rent. Education and communication prices also rose, as did the index for recreation, up 1.4 and 0.9 percent, respectively. Among the components balancing these advances, prices fell for apparel (-4.1 percent) and for other goods and services (-0.1 percent), while medical care costs remained unchanged. Lower prices were also noted for airline fares and household appliances during the period.
From July 2014 to July 2015, the index for all items less food and energy advanced 1.6 percent. The biggest factor in the annual increase was a 3.9-percent rise in shelter costs, as the indexes rose for both renters’ costs (4.6 percent) and owners’ equivalent rent (3.7 percent). Another large contributor was a 4.5-percent annual rise in medical care prices. Countering a portion of these advances, annual declines were registered for apparel (-2.5 percent), household furnishings and operations (-4.0 percent), and education and communication (-1.0 percent).
The September 2015 Consumer Price Index for All Items for Dallas-Fort Worth is scheduled to be released Thursday, October 15, 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: Wednesday, August 19, 2015