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Friday, July 14, 2017

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Consumer Price Index, Honolulu – First Half 2017

Area prices were up 1.6 percent over the past six months, up 2.5 percent from a year ago

Prices in the Honolulu Area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 1.6 percent in the first half of 2017, the U.S. Bureau of Labor Statistics reported today. (See table A.) Assistant Commissioner for Regional Operations Richard Holden noted that the six-month increase was influenced by higher prices for shelter. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 2.5 percent.  (See chart 1 and table A.) Energy prices jumped 15.4 percent, largely the result of an increase in the price of gasoline. The index for all items less food and energy advanced 2.3 percent over the year. (See table 1.)

Chart 1. Over-the-year percent change in CPI-U, Honolulu, first half 2014 – first half 2017

Food

Food prices increased 1.2 percent in the first half of 2017. (See table 1.) Prices for food at home prices home advanced 1.9 percent, and prices for food away from home increased 0.5 percent for the same period.

Over the year, food prices increased 0.9 percent. Prices for food at home advanced 1.0 percent, and prices for food away from home rose 0.7 percent.

Energy

The energy index advanced 7.1 percent since the second half of 2016. The increase was mainly due to higher prices for gasoline (8.3 percent). Prices for electricity rose 6.4 percent, and prices for natural gas service advanced 5.2 percent for the same period.

Energy prices jumped 15.4 percent over the year, influenced by higher prices for gasoline (20.4) percent). Prices paid for electricity rose 11.8 percent, and prices for natural gas service moved up 8.8 percent during the past year.

All items less food and energy

The index for all items less food and energy rose 1.4 percent in the latest six-month period. Higher prices for apparel (3.9 percent) and shelter (2.3 percent) were partially offset by lower prices for education and communication (-3.1 percent).

Over the year, the index for all items less food and energy advanced 2.3 percent. Components contributing to the increase included apparel (5.8 percent) and shelter (4.2 percent). Partly offsetting the increases was a price decline in education and communication (-3.6 percent).

Table A. Honolulu CPI-U semi-annual and annual percent changes (not seasonally adjusted)
Month 2012 2013 2014 2015 2016 2017
Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual Semi-annual Annual

First Half

1.3 2.8 1.2 1.8 0.5 1.1 -0.5 0.7 0.6 2.4 1.6 2.5

Second Half

0.7 2.0 0.6 1.7 1.3 1.8 1.8 1.3 0.9 1.5    

The Second Half 2017 Consumer Price Index for the Honolulu is scheduled to be released mid-January 2018.

Consumer Price Index Geographic Revision for 2018

In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). This index will change to a bimonthly publication schedule beginning in January, 2018. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: www.bls.gov/cpi/georevision2018.htm.


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/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 Honolulu metropolitan area covered in this release consists of Oahu County in the State of Hawaii.

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 for semiannual averages and percent changes for selected periods

Honolulu, HI (1982-84=100 unless otherwise noted)
Item and Group

 
Semiannual average indexes
 
Percent change to
1st half 2017 from-
1st half
2016
2nd half
2016
1st half
2017
1st half
2016
2nd half
2016

Expenditure category

 
 

All items

264.038 266.528 270.738 2.5 1.6

All items (1967=100)

726.889 733.744 745.335 - -

Food and beverages

272.390 271.712 275.042 1.0 1.2

Food

273.433 272.564 275.787 0.9 1.2

Food at home

268.709 266.448 271.384 1.0 1.9

Food away from home

272.725 273.281 274.707 0.7 0.5

Alcoholic beverages

252.571 255.752 261.220 3.4 2.1

Housing

281.079 286.052 292.629 4.1 2.3

Shelter

306.182 312.050 319.154 4.2 2.3

Rent of primary residence

301.642 305.525 311.278 3.2 1.9

Owners' equiv. rent of residences(1)

317.964 323.762 331.757 4.3 2.5

Owners' equiv. rent of primary residence(1)

317.964 323.762 331.757 4.3 2.5

Fuels and utilities

313.815 322.866 334.583 6.6 3.6

Household energy

237.410 249.006 264.000 11.2 6.0

Energy services

232.672 244.282 259.724 11.6 6.3

Electricity

230.402 242.151 257.634 11.8 6.4

Utility (piped) gas service

231.854 239.650 252.148 8.8 5.2

Household furnishings and operations

149.881 147.588 148.676 -0.8 0.7

Apparel

110.769 112.703 117.145 5.8 3.9

Transportation

210.717 212.573 216.836 2.9 2.0

Private transportation

202.217 204.688 211.293 4.5 3.2

Motor fuel

187.757 208.672 226.015 20.4 8.3

Gasoline (all types)

192.577 214.041 231.836 20.4 8.3

Gasoline, unleaded regular(2)

201.570 224.402 242.707 20.4 8.2

Gasoline, unleaded midgrade(2)(3)

156.507 171.959 188.020 20.1 9.3

Gasoline, unleaded premium(2)

174.319 192.393 209.728 20.3 9.0

Medical care

399.192 401.624 405.254 1.5 0.9

Recreation(4)

124.456 125.288 125.662 1.0 0.3

Education and communication(4)

150.105 149.465 144.769 -3.6 -3.1

Other goods and services

483.778 485.863 489.868 1.3 0.8
 

Commodity and service group

 
 

All Items

264.038 266.528 270.738 2.5 1.6

Commodities

196.818 197.708 201.434 2.3 1.9

Commodities less food & beverages

150.579 152.497 156.532 4.0 2.6

Nondurables less food & beverages

182.894 187.833 194.327 6.3 3.5

Durables

114.801 113.241 114.473 -0.3 1.1

Services

322.420 326.461 330.994 2.7 1.4
 

Special aggregate indexes

 
 

All items less medical care

256.756 259.247 263.484 2.6 1.6

All items less shelter

245.813 246.799 249.726 1.6 1.2

Commodities less food

154.436 156.403 160.502 3.9 2.6

Nondurables

229.453 231.292 235.999 2.9 2.0

Nondurables less food

187.200 192.057 198.512 6.0 3.4

Services less rent of shelter(1)

343.120 344.221 344.566 0.4 0.1

Services less medical care services

314.247 318.617 323.417 2.9 1.5

Energy

209.132 225.380 241.406 15.4 7.1

All items less energy

269.023 270.761 274.341 2.0 1.3

All items less food and energy

269.809 272.237 275.934 2.3 1.4

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

- Data not available.
 

 

Last Modified Date: Friday, July 14, 2017