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Wednesday, June 14, 2017

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Consumer Price Index, Dallas-Fort Worth — May 2017

Area prices rise 0.7 percent in April and May; up 2.1 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth rose 0.7 percent in April and May, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Stanley W. Suchman noted that a 0.7-percent rise in the index for all items less food and energy was the biggest contributor, though a 2.1-percent rise in energy prices also played a role. Food prices were essentially unchanged during the period (-0.1 percent). (Data in this report are not seasonally adjusted. Accordingly, bimonthly changes may reflect the impact of seasonal influences.)

During the year ended in May 2017, the all items CPI-U rose 2.1 percent. The annual inflation rate in Dallas has been 2.0 percent or more in each of the previous five bimonthly periods, the longest such consecutive sequence since March 2012. The index for all items less food and energy increased 1.9 percent during the latest 12-month period.(See chart 1 and table 1.)

Food

Food prices were essentially unchanged (-0.1 percent) in April and May, after rising 0.3 percent in February and March. During the latest two-month period, prices for food away from home recorded no change (0.0 percent) and prices at the grocery store were essentially unchanged (-0.1 percent).

From May 2016 to May 2017, food prices rose 0.7 percent. The two components of the index registered opposing movements with prices for food away from home increasing 1.6 percent and prices for food at home slipping 0.2 percent.

Energy

The energy index rose 2.1 percent in April and May, following a decrease of 2.2 percent in February and March. A 3.2-percent increase in motor fuel costs was the biggest factor in the April and May advance, but higher household energy prices also contributed. Natural gas costs rose 3.3 percent during the period and electricity prices were up 0.5 percent.

During the year ended in May 2017, the energy index rose 5.9 percent. Higher prices for motor fuel (9.2 percent) and natural gas (15.6 percent) were primarily responsible for the annual increase, as electricity costs were little changed (0.1 percent).

All items less food and energy

The index for all items less food and energy rose 0.7 percent in April and May after increasing 0.6 in February and March. The biggest contributor to the latest advance was higher costs for shelter, up 0.9 percent. Within the shelter component, renters’ costs increased 1.5 percent and the index for owners’ equivalent rent rose 0.7 percent. Several transportation categories were also factors in the latest increase as motor vehicle insurance, new vehicles, and airline fares all registered higher prices. Partially countering these advances, prices for apparel (-4.7 percent) and for education and communication (-0.8 percent) each declined. The indexes for medical care and other goods and services recorded no change during the two-month period.

From May 2016 to May 2017, the index for all items less food and energy advanced 1.9 percent. The largest contributor by far was a 5.3-percent increase in shelter costs, reflecting increases of 7.4 percent for renters’ costs and 4.8 percent for owners’ equivalent rent. In contrast, prices declined over the year for three components, education and communication (-4.1 percent), apparel (-4.0 percent), and recreation (-1.8 percent).

The July 2017 Consumer Price Index for All Items for Dallas-Fort Worth is scheduled to be released Friday, August 11, 2017.


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 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/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 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.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods,
Dallas-Fort Worth, TX (1982-84=100 unless otherwise noted)
Item and Group Indexes Percent change from -
 
Mar.
2017
Apr.
2017
May
2017
May
2016
Mar.
2017
Apr.
2017

All items

223.782 - 225.264 2.1 0.7 -

All items (1967 = 100)

701.993 - 706.641      

Food and beverages

251.844 - 251.286 0.6 -0.2 -

Food

246.342 - 246.182 0.7 -0.1 -

Food at home

217.199 217.035 216.941 -0.2 -0.1 0.0

Food away from home

291.101 - 291.069 1.6 0.0 -

Alcoholic beverages

323.677 - 317.449 -1.0 -1.9 -

Housing

211.429 - 213.061 4.4 0.8 -

Shelter

233.220 233.387 235.256 5.3 0.9 0.8

Rent of primary residence(1)

246.079 246.910 249.659 7.4 1.5 1.1

Owners' equivalent rent of residences(1)(2)

249.231 249.908 250.891 4.8 0.7 0.4

Owners' equivalent rent of primary residence(1)(2)

249.231 249.908 250.891 4.8 0.7 0.4

Fuels and utilities

219.103 - 220.891 3.3 0.8 -

Household energy

198.187 200.015 200.184 2.8 1.0 0.1

Energy services(1)(3)

194.793 196.586 196.753 2.6 1.0 0.1

Electricity(1)

184.397 184.706 185.345 0.1 0.5 0.3

Utility (piped) gas service(1)

201.776 210.758 208.462 15.6 3.3 -1.1

Household furnishings and operations

124.180 - 124.042 -0.8 -0.1 -

Apparel

111.420 - 106.227 -4.0 -4.7 -

Transportation

197.464 - 203.925 3.0 3.3 -

Private transportation

199.128 - 205.615 3.7 3.3 -

Motor fuel

202.844 216.818 209.392 9.2 3.2 -3.4

Gasoline (all types)

201.735 215.866 208.440 9.2 3.3 -3.4

Gasoline, unleaded regular(4)

193.879 207.360 199.822 8.7 3.1 -3.6

Gasoline, unleaded midgrade(4)(5)

214.738 229.888 224.348 11.4 4.5 -2.4

Gasoline, unleaded premium(4)

216.956 233.152 228.710 10.7 5.4 -1.9

Medical care

432.217 - 432.157 1.0 0.0 -

Recreation(6)

111.333 - 111.647 -1.8 0.3 -

Education and communication(6)

136.285 - 135.218 -4.1 -0.8 -

Other goods and services

391.596 - 391.616 1.1 0.0 -
 

Commodity and service group

 

Commodities

171.987 - 172.587 0.4 0.3 -

Commodities less food and beverages

136.401 - 137.345 0.3 0.7 -

Nondurables less food and beverages

168.601 - 168.500 3.2 -0.1 -

Durables

108.838 - 110.537 -2.7 1.6 -

Services

274.394 - 276.725 3.1 0.8 -
 

Special aggregate indexes

 

All items less shelter

220.079 - 221.300 0.5 0.6 -

All items less medical care

213.681 - 215.231 2.2 0.7 -

Commodities less food

141.164 - 141.963 0.3 0.6 -

Nondurables

206.503 - 206.203 1.8 -0.1 -

Nondurables less food

175.770 - 175.382 2.8 -0.2 -

Services less rent of shelter(2)

331.681 - 334.381 0.6 0.8 -

Services less medical care services

258.783 - 261.290 3.5 1.0 -

Energy

201.905 209.669 206.135 5.9 2.1 -1.7

All items less energy

229.667 - 230.934 1.8 0.6 -

All items less food and energy

226.864 - 228.341 1.9 0.7 -

Footnotes
(1) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(2) Indexes on a December 1982=100 base.
(3) Prior to January 2011 this series was titled Gas (piped) and electricity.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.
(6) Indexes on a December 1997=100 base.
 

Note: Index applies to a month as a whole, not to any specific date.
 

 

Last Modified Date: Wednesday, June 14, 2017