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Friday, April 14, 2017

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Consumer Price Index, Dallas-Fort Worth — March 2017

Area prices rise 0.3 percent in February and March; up 2.2 percent over the year

The Consumer Price Index for All Urban Consumers (CPI-U) for Dallas-Fort Worth rose 0.3 percent in February and March, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Stanley W. Suchman noted that a 0.6-percent rise in the index for all items less food and energy was the biggest contributor, though food prices gained 0.3 percent. Partially countering these increases, energy costs declined 2.2 percent. (Data in this report are not seasonally adjusted. Accordingly, bimonthly changes may reflect the impact of seasonal influences.)

During the year ended in March 2017, the all items CPI-U rose 2.2 percent. This rate was down from the previous 12-month increase of 2.7 percent, which was its fastest rate of gain since the year ended in July 2013. The index for all items less food and energy increased 1.8 percent during the latest 12-month period, the second consecutive period in which the “core” rate of inflation was less than the all items rate in the local area. (See chart 1 and table 1.)

Food

Food prices rose 0.3 percent in February and March after registering no change in the previous period. The increase was driven by higher prices for food away from home, which rose 0.4 percent during the latest two-month period, as food at home (grocery store) prices were little changed (0.1 percent).

From March 2016 to March 2017, food prices rose 0.8 percent. The two components of the index registered opposing movements with prices for food away from home increasing 1.9 percent, while prices for food at home fell 0.3 percent.

Energy

The energy index fell 2.2 percent in February and March, following a 4.1-percent increase in December and January. The current decrease was the result of declines in the costs of both natural gas (-13.4 percent) and motor fuel (-2.0 percent); electricity costs were unchanged.

During the year ended in March 2017, the energy index rose 9.8 percent. Despite the latest bimonthly decreases, higher prices for both motor fuel (17.0 percent) and natural gas (20.0 percent) were primarily responsible for the annual increase, though electricity costs (up 0.6 percent) also contributed.

All items less food and energy

The index for all items less food and energy rose 0.6 percent in February and March after registering little change in December and January (0.1 percent). The increased cost of shelter, up 1.1 percent, was the biggest contributor to the advance. Within the shelter component, slower increases for owners’ equivalent rent (0.8 percent) and renters’ costs (0.4 percent) were pushed higher by a sharp rise in the cost of lodging away from home (hotel and motel charges). Higher prices for apparel and medical care, up 5.6 and 1.7 percent, were also large contributors. Important factors in the medical care rise included higher prices for prescription drugs and professional medical care services. Partially countering these increases, the index for education and communication declined 3.4 percent during the period, primarily because of lower charges for wireless telephone services.

From March 2016 to March 2017, the index for all items less food and energy advanced 1.8 percent. The largest contributor by far was a 5.9-percent increase in shelter costs, reflecting increases of 6.4 percent for renters’ costs and 5.3 percent for owners’ equivalent rent. In contrast, prices declined over the year for two components, education and communication (-4.2 percent) and apparel (-0.9 percent).

The May 2017 Consumer Price Index for All Items for Dallas-Fort Worth is scheduled to be released Wednesday, June 14, 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 -
 
Jan.
2017
Feb.
2017
Mar.
2017
Mar.
2016
Jan.
2017
Feb.
2017

All items

223.082 - 223.782 2.2 0.3 -

All items (1967 = 100)

699.796 - 701.993      

Food and beverages

251.369 - 251.844 0.9 0.2 -

Food

245.700 - 246.342 0.8 0.3 -

Food at home

217.017 215.816 217.199 -0.3 0.1 0.6

Food away from home

289.821 - 291.101 1.9 0.4 -

Alcoholic beverages

325.611 - 323.677 1.7 -0.6 -

Housing

209.830 - 211.429 4.9 0.8 -

Shelter

230.769 232.394 233.220 5.9 1.1 0.4

Rent of primary residence(1)

244.983 246.699 246.079 6.4 0.4 -0.3

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

247.270 248.616 249.231 5.3 0.8 0.2

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

247.270 248.616 249.231 5.3 0.8 0.2

Fuels and utilities

222.929 - 219.103 4.0 -1.7 -

Household energy

203.304 201.635 198.187 3.6 -2.5 -1.7

Energy services(1)(3)

200.119 198.213 194.793 3.5 -2.7 -1.7

Electricity(1)

184.426 184.426 184.397 0.6 0.0 0.0

Utility (piped) gas service(1)

233.005 221.778 201.776 20.0 -13.4 -9.0

Household furnishings and operations

122.327 - 124.180 -1.6 1.5 -

Apparel

105.512 - 111.420 -0.9 5.6 -

Transportation

200.216 - 197.464 1.8 -1.4 -

Private transportation

201.417 - 199.128 1.8 -1.1 -

Motor fuel

206.899 196.671 202.844 17.0 -2.0 3.1

Gasoline (all types)

205.809 195.487 201.735 16.9 -2.0 3.2

Gasoline, unleaded regular(4)

197.788 187.716 193.879 17.1 -2.0 3.3

Gasoline, unleaded midgrade(4)(5)

218.901 208.960 214.738 16.8 -1.9 2.8

Gasoline, unleaded premium(4)

221.447 211.638 216.956 14.2 -2.0 2.5

Medical care

424.806 - 432.217 0.2 1.7 -

Recreation(6)

109.674 - 111.333 0.5 1.5 -

Education and communication(6)

141.016 - 136.285 -4.2 -3.4 -

Other goods and services

387.682 - 391.596 1.1 1.0 -
 

Commodity and service group

 

Commodities

171.277 - 171.987 0.7 0.4 -

Commodities less food and beverages

135.653 - 136.401 0.5 0.6 -

Nondurables less food and beverages

166.761 - 168.601 4.6 1.1 -

Durables

108.925 - 108.838 -3.8 -0.1 -

Services

273.700 - 274.394 3.2 0.3 -
 

Special aggregate indexes

 

All items less shelter

220.217 - 220.079 0.5 -0.1 -

All items less medical care

213.293 - 213.681 2.4 0.2 -

Commodities less food

140.468 - 141.164 0.6 0.5 -

Nondurables

205.235 - 206.503 2.6 0.6 -

Nondurables less food

174.107 - 175.770 4.4 1.0 -

Services less rent of shelter(2)

333.934 - 331.681 0.2 -0.7 -

Services less medical care services

258.374 - 258.783 3.6 0.2 -

Energy

206.541 200.686 201.905 9.8 -2.2 0.6

All items less energy

228.486 - 229.667 1.7 0.5 -

All items less food and energy

225.605 - 226.864 1.8 0.6 -

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: Friday, April 14, 2017