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News Release Information

23-515-SAN
Tuesday, March 14, 2023

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

Consumer Price Index, Anchorage area — February 2023

Area prices were up 0.1 percent over the past two months, up 4.3 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 2023, 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 apparel. (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 4.3 percent. (See chart 1 and table A.) Food prices increased 2.1 percent. Energy prices rose 1.8 percent, largely the result of an increase in the price of electricity. The index for all items less food and energy increased 5.0 percent over the year. (See table 1.)

Food

Food prices declined 1.3 percent for the two months ending in February. (See table 1.) Prices for food at home declined 2.6 percent, led by lower prices for fruits and vegetables (-5.3 percent). Prices for food away from home increased 1.4 percent for the same period.

Over the year, food prices increased 2.1 percent. Prices for food at home rose 1.0 percent since a year ago, with higher prices in four of the six grocery categories. Prices for food away from home advanced 4.4 percent.

Energy

The energy index fell 1.4 percent for the two months ending in February. The decrease was mainly due to lower prices for gasoline (-3.1 percent). Prices for electricity increased 0.6 percent, while prices for natural gas service were unchanged for the same period.

Energy prices rose 1.8 percent over the year, largely due to higher prices for electricity (4.1 percent). Prices paid for natural gas service rose 2.5 percent, but prices for gasoline decreased 0.4 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.6 percent in the latest two-month period. Higher prices for apparel (5.3 percent) and household furnishings and operations (2.0 percent) were partially offset by lower prices for used cars and trucks (-2.8 percent), education and communication (-0.7 percent), and shelter (-0.2 percent).

Over the year, the index for all items less food and energy increased 5.0 percent. Components contributing to the increase included shelter (7.8 percent) and recreation (6.6 percent). Partly offsetting the increases were price decreases in used cars and trucks (-14.3 percent) and education and communication (-3.5 percent).

Table A. Urban Alaska CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted
Month 2019 2020 2021 2022 2023
2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

February

0.3 2.5 0.0 -0.3 1.0 1.3 1.1 7.4 0.1 4.3

April

0.6 2.7 -1.6 -2.5 1.8 4.8 1.9 7.5

June

2.5 2.5 1.0 -3.8 2.5 6.2 7.1 12.4

August

-1.6 0.7 0.8 -1.5 0.3 5.7 -4.0 7.6

October

-1.2 -0.3 0.6 0.3 1.2 6.3 1.1 7.6

December

-0.5 0.0 -0.5 0.3 0.4 7.2 -1.7 5.4

The April 2023 Consumer Price Index for the Anchorage area is scheduled to be released on May 10, 2023.


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

Indexes Percent change from-
Historical
data
Dec.
2022
Jan.
2023
Feb.
2023
Feb.
2022
Dec.
2022
Jan.
2023

Expenditure category

All items

256.634 - 256.856 4.3 0.1 -

All items (1967=100)

684.991 - 685.585 - - -

Food and beverages

256.564 - 253.870 2.3 -1.1 -

Food

266.902 - 263.487 2.1 -1.3 -

Food at home

263.263 257.039 256.454 1.0 -2.6 -0.2

Cereals and bakery products

274.004 - 264.287 -0.5 -3.5 -

Meats, poultry, fish, and eggs

242.119 - 237.377 -6.1 -2.0 -

Dairy and related products

254.922 - 254.973 10.8 0.0 -

Fruits and vegetables

405.788 - 384.427 0.8 -5.3 -

Nonalcoholic beverages and beverage materials(1)

184.395 - 181.182 7.4 -1.7 -

Other food at home

221.476 - 218.114 2.9 -1.5 -

Food away from home

269.937 - 273.851 4.4 1.4 -

Alcoholic beverages

158.446 - 162.203 4.2 2.4 -

Housing

229.702 - 230.151 6.3 0.2 -

Shelter

233.869 232.486 233.489 7.8 -0.2 0.4

Rent of primary residence(2)

223.983 224.464 224.413 6.9 0.2 0.0

Owners' equiv. rent of residences(2)

236.452 234.988 234.918 8.1 -0.6 0.0

Owners' equiv. rent of primary residence(2)

236.452 234.988 234.918 8.1 -0.6 0.0

Fuels and utilities

350.801 - 353.997 4.2 0.9 -

Household energy

353.572 356.238 355.729 3.3 0.6 -0.1

Energy services

392.574 393.862 393.862 3.3 0.3 0.0

Electricity

327.825 329.850 329.850 4.1 0.6 0.0

Utility (piped) gas service

478.719 478.719 478.719 2.5 0.0 0.0

Household furnishings and operations

142.916 - 145.773 -0.2 2.0 -

Apparel

148.910 - 156.861 1.6 5.3 -

Transportation

276.390 - 275.166 3.1 -0.4 -

Private transportation

288.099 - 285.104 2.2 -1.0 -

New and used motor vehicles(3)

133.315 - 132.676 -0.9 -0.5 -

New vehicles(1)

276.132 - 280.548 7.4 1.6 -

Used cars and trucks(1)

354.418 - 344.378 -14.3 -2.8 -

Motor fuel

326.591 315.122 315.329 0.1 -3.4 0.1

Gasoline (all types)

324.804 314.155 314.647 -0.4 -3.1 0.2

Gasoline, unleaded regular(4)

312.289 301.953 302.684 -0.6 -3.1 0.2

Gasoline, unleaded midgrade(4)(5)

315.039 304.872 304.243 0.9 -3.4 -0.2

Gasoline, unleaded premium(4)

334.225 323.676 323.165 0.4 -3.3 -0.2

Medical care

706.705 - - - - -

Recreation(3)

139.897 - 140.424 6.6 0.4 -

Education and communication(3)

113.024 - 112.181 -3.5 -0.7 -

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

774.522 - 774.489 1.3 0.0 -

Other goods and services

404.242 - 412.377 4.2 2.0 -

Commodity and service group

All items

256.634 - 256.856 4.3 0.1 -

Commodities

211.768 - 210.818 0.5 -0.4 -

Commodities less food & beverages

188.938 - 189.170 -0.3 0.1 -

Nondurables less food & beverages

237.885 - 240.105 1.6 0.9 -

Durables

147.088 - 145.979 -2.1 -0.8 -

Services

294.803 - 296.318 6.9 0.5 -

Special aggregate indexes

All items less medical care

241.061 - 241.047 4.1 0.0 -

All items less shelter

265.862 - 266.387 2.7 0.2 -

Commodities less food

187.824 - 188.293 -0.1 0.2 -

Nondurables

248.542 - 247.673 1.8 -0.3 -

Nondurables less food

231.510 - 234.015 1.8 1.1 -

Services less rent of shelter(2)

393.716 - 398.967 6.0 1.3 -

Services less medical care services

270.278 - 271.249 7.1 0.4 -

Energy

338.919 334.172 334.039 1.8 -1.4 0.0

All items less energy

252.189 - 252.692 4.4 0.2 -

All items less food and energy

249.989 - 251.516 5.0 0.6 -

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 14, 2023