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News Release Information

24-517-SAN
Tuesday, March 12, 2024

Contacts Technical information: Media contact:
  • (415) 625-2270

Consumer Price Index, Anchorage area — February 2024

Area prices were up 0.1 percent over the past two months, up 1.7 percent from a year ago

Prices in the Anchorage area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.1 percent for the two months ending in February 2024, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the February increase was influenced by higher prices for shelter and education and communication. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 1.7 percent. (See chart 1 and table A.) Food prices advanced 1.2 percent. Energy prices advanced 0.6 percent, largely the result of an increase in the price of electricity. The index for all items less food and energy advanced 2.0 percent over the year. (See table 1.)

Chart 1. Over-the-year percent change in CPI-U, Urban Alaska, February 2021-February 2024
Food

Food prices advanced 0.3 percent for the two months ending in February. (See table 1.) Prices for food at home rose 0.1 percent, led by higher prices for cereals and bakery products (2.4 percent). Prices for food away from home increased 0.6 percent for the same period.

Over the year, food prices advanced 1.2 percent. Prices for food at home fell 0.1 percent since a year ago, led by lower prices for dairy and related products (-6.5 percent). Prices for food away from home rose 3.7 percent.

Energy

The energy index declined 1.6 percent for the two months ending in February. The decrease was mainly due to lower prices for gasoline (-6.4 percent). Prices for electricity increased 8.0 percent, while prices for natural gas service were unchanged for the same period.

Energy prices advanced 0.6 percent over the year, largely due to higher prices for electricity (14.9 percent). Prices paid for natural gas service increased 2.7 percent, while prices for gasoline fell 5.7 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.2 percent in the latest two-month period. Higher prices for education and communication (3.8 percent) and shelter (0.5 percent) were partially offset by lower prices for new and used motor vehicles (-2.0 percent) and recreation (-2.0 percent).

Over the year, the index for all items less food and energy advanced 2.0 percent. Components contributing to the increase included other goods and services (20.7 percent) and shelter (2.6 percent). Partly offsetting the increases were price decreases in new and used motor vehicles (-5.9 percent) and household furnishings and operations (-3.5 percent).

Table A. Urban Alaska CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month20202021202220232024
2-month12-month2-month12-month2-month12-month2-month12-month2-month12-month

February

0.0-0.31.01.31.17.40.14.30.11.7

April

-1.6-2.51.84.81.97.50.83.1

June

1.0-3.82.56.27.112.40.4-3.3

August

0.8-1.50.35.7-4.07.61.32.0

October

0.60.31.26.31.17.60.21.1

December

-0.50.30.47.2-1.75.4-1.11.8

The April 2024 Consumer Price Index for the Anchorage area is scheduled to be released on May 15, 2024.


Technical Note

The Consumer Price Index (CPI) is a measures 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 93 percent of the total U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 75 urban areas across the country from about 6,000 housing units and approximately 22,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000.  Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.

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 Urban Alaska area covered in this release consists of Anchorage and Matanuska-Susitna Borough in the State of Alaska.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods

Urban Alaska (1982-84=100 unless otherwise noted)
Item and Group

IndexesPercent change from-
Historical
data
Dec.
2023
Jan.
2024
Feb.
2024
Feb.
2023
Dec.
2023
Jan.
2024

Expenditure category

All items

Go to web page with historical data for series CUURS49GSA0
261.178-261.3401.70.1-

All items (1967=100)

Go to web page with historical data for series CUURS49GAA0
697.121-697.552---

Food and beverages

Go to web page with historical data for series CUURS49GSAF
256.413-257.1541.30.3-

Food

Go to web page with historical data for series CUURS49GSAF1
265.859-266.5591.20.3-

Food at home

Go to web page with historical data for series CUURS49GSAF11
255.937256.547256.259-0.10.1-0.1

Cereals and bakery products

Go to web page with historical data for series CUURS49GSAF111
258.136263.329264.3760.02.40.4

Meats, poultry, fish, and eggs

Go to web page with historical data for series CUURS49GSAF112
232.112228.995231.786-2.4-0.11.2

Dairy and related products

Go to web page with historical data for series CUURS49GSEFJ
246.321248.745238.351-6.5-3.2-4.2

Fruits and vegetables

Go to web page with historical data for series CUURS49GSAF113
394.712401.389398.2113.60.9-0.8

Nonalcoholic beverages and beverage materials(1)

Go to web page with historical data for series CUURS49GSAF114
184.222182.274184.9942.10.41.5

Other food at home

Go to web page with historical data for series CUURS49GSAF115
217.766216.831216.355-0.8-0.6-0.2

Food away from home

Go to web page with historical data for series CUURS49GSEFV
282.368-284.0203.70.6-

Alcoholic beverages

Go to web page with historical data for series CUURS49GSAF116
166.192-----

Housing

Go to web page with historical data for series CUURS49GSAH
233.250-235.5152.31.0-

Shelter

Go to web page with historical data for series CUURS49GSAH1
238.546239.159239.6572.60.50.2

Rent of primary residence(2)

Go to web page with historical data for series CUURS49GSEHA
237.123236.947237.7565.90.30.3

Owners' equiv. rent of residences(2)

Go to web page with historical data for series CUURS49GSEHC
239.543239.910240.5072.40.40.2

Owners' equiv. rent of primary residence(2)

Go to web page with historical data for series CUURS49GSEHC01
239.543239.910240.5072.40.40.2

Fuels and utilities

Go to web page with historical data for series CUURS49GSAH2
363.824-377.4616.63.7-

Household energy

Go to web page with historical data for series CUURS49GSAH21
369.665385.393385.2538.34.20.0

Energy services

Go to web page with historical data for series CUURS49GSEHF
412.285431.140431.1409.54.60.0

Electricity

Go to web page with historical data for series CUURS49GSEHF01
351.017379.043379.04314.98.00.0

Utility (piped) gas service

Go to web page with historical data for series CUURS49GSEHF02
491.615491.615491.6152.70.00.0

Household furnishings and operations

Go to web page with historical data for series CUURS49GSAH3
137.547-140.677-3.52.3-

Apparel

Go to web page with historical data for series CUURS49GSAA
157.081-158.8331.31.1-

Transportation

Go to web page with historical data for series CUURS49GSAT
281.366-273.465-0.6-2.8-

Private transportation

Go to web page with historical data for series CUURS49GSAT1
287.043-280.655-1.6-2.2-

New and used motor vehicles(3)

Go to web page with historical data for series CUURS49GSETA
127.510-124.902-5.9-2.0-

New vehicles(1)

Go to web page with historical data for series CUURS49GSETA01
270.450-269.639-3.9-0.3-

Used cars and trucks(1)

Go to web page with historical data for series CUURS49GSETA02
350.837-336.308-2.3-4.1-

Motor fuel

Go to web page with historical data for series CUURS49GSETB
317.210299.825295.626-6.2-6.8-1.4

Gasoline (all types)

Go to web page with historical data for series CUURS49GSETB01
316.900300.614296.576-5.7-6.4-1.3

Gasoline, unleaded regular(4)

Go to web page with historical data for series CUURS49GSS47014
304.483288.462284.641-6.0-6.5-1.3

Gasoline, unleaded midgrade(4)(5)

Go to web page with historical data for series CUURS49GSS47015
307.834291.962287.731-5.4-6.5-1.4

Gasoline, unleaded premium(4)

Go to web page with historical data for series CUURS49GSS47016
326.951311.622307.246-4.9-6.0-1.4

Medical care

Go to web page with historical data for series CUURS49GSAM
739.263-746.732-1.0-

Recreation(3)

Go to web page with historical data for series CUURS49GSAR
141.415-138.524-1.4-2.0-

Education and communication(3)

Go to web page with historical data for series CUURS49GSAE
108.956-113.0980.83.8-

Tuition, other school fees, and child care(1)

Go to web page with historical data for series CUURS49GSEEB
789.709-791.8552.20.3-

Other goods and services

Go to web page with historical data for series CUURS49GSAG
497.493-497.70620.70.0-

Commodity and service group

All items

Go to web page with historical data for series CUURS49GSA0
261.178-261.3401.70.1-

Commodities

Go to web page with historical data for series CUURS49GSAC
210.968-208.692-1.0-1.1-

Commodities less food & beverages

Go to web page with historical data for series CUURS49GSACL11
187.649-184.054-2.7-1.9-

Nondurables less food & beverages

Go to web page with historical data for series CUURS49GSANL11
243.035-237.327-1.2-2.3-

Durables

Go to web page with historical data for series CUURS49GSAD
141.552-139.267-4.6-1.6-

Services

Go to web page with historical data for series CUURS49GSAS
305.073-307.7833.90.9-

Special aggregate indexes

All items less medical care

Go to web page with historical data for series CUURS49GSA0L5
244.784-244.7601.50.0-

All items less shelter

Go to web page with historical data for series CUURS49GSA0L2
270.298-269.9551.3-0.1-

Commodities less food

Go to web page with historical data for series CUURS49GSACL1
187.134-183.702-2.4-1.8-

Nondurables

Go to web page with historical data for series CUURS49GSAN
250.348-248.4200.3-0.8-

Nondurables less food

Go to web page with historical data for series CUURS49GSANL1
237.174-232.131-0.8-2.1-

Services less rent of shelter(2)

Go to web page with historical data for series CUURS49GSASL2RS
414.497-420.2555.31.4-

Services less medical care services

Go to web page with historical data for series CUURS49GSASL5
279.050-281.3733.70.8-

Energy

Go to web page with historical data for series CUURS49GSA0E
341.636338.628336.1810.6-1.6-0.7

All items less energy

Go to web page with historical data for series CUURS49GSA0LE
256.835-257.3231.80.2-

All items less food and energy

Go to web page with historical data for series CUURS49GSA0L1E
256.148-256.5992.00.2-

Footnotes
(1) Indexes on a December 1978=100 base.
(2) Indexes on a December 1982=100 base.
(3) Indexes on a December 1997=100 base.
(4) Special index based on a substantially smaller sample.
(5) Indexes on a December 1993=100 base.

- Data not available
NOTE: Index applies to a month as a whole, not to any specific date.

 

Last Modified Date: Tuesday, March 12, 2024