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News Release Information

23-2008-SAN
Wednesday, September 13, 2023

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

Consumer Price Index, Anchorage area — August 2023

Area prices were up 1.3 percent over the past two months, up 2.0 percent from a year ago

Prices in the Anchorage area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 1.3 percent for the two months ending in August 2023, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the August increase was influenced by higher prices for shelter and gasoline. (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 2.0 percent. (See chart 1 and table A.) Food prices increased 2.6 percent. Energy prices declined 4.6 percent, largely the result of a decrease in the price of gasoline. The index for all items less food and energy rose 2.7 percent over the year. (See table 1.)

Food

Food prices increased 1.5 percent for the two months ending in August. (See table 1.) Prices for food at home rose 1.4 percent, led by higher prices for nonalcoholic beverages and beverage materials (4.4 percent) and fruits and vegetables (3.0 percent). Overall, prices rose in five of the six grocery categories. Prices for food away from home increased 1.5 percent for the same period.

Over the year, food prices increased 2.6 percent. Prices for food at home decreased 1.3 percent since a year ago, influenced by lower prices for meats, poultry, fish, and eggs (-6.5 percent). Overall, prices declined in four of the six grocery categories. Prices for food away from home advanced 11.1 percent.

Energy

The energy index advanced 6.4 percent for the two months ending in August. The increase was mainly due to higher prices for gasoline (11.3 percent). Prices for natural gas service rose 2.7 percent, and prices for electricity increased 0.5 percent for the same period.

Energy prices declined 4.6 percent over the year, largely due to lower prices for gasoline (-8.4 percent). Prices paid for electricity increased 4.4 percent, and prices for natural gas service increased 3.1 percent during the past year.

All items less food and energy

The index for all items less food and energy advanced 0.8 percent in the latest two-month period. Higher prices for other goods and services (10.0 percent) and shelter (2.3 percent) were partially offset by lower prices for recreation (-1.2 percent).

Over the year, the index for all items less food and energy rose 2.7 percent. Components contributing to the increase included other goods and services (20.4 percent) and shelter (2.7 percent). Partly offsetting the increases were price decreases in used cars and trucks (-6.2 percent) and household furnishings and operations (-2.8 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 0.8 3.1

June

2.5 2.5 1.0 -3.8 2.5 6.2 7.1 12.4 0.4 -3.3

August

-1.6 0.7 0.8 -1.5 0.3 5.7 -4.0 7.6 1.3 2.0

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 October 2023 Consumer Price Index for the Anchorage area is scheduled to be released on November 14, 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
Jun.
2023
Jul.
2023
Aug.
2023
Aug.
2022
Jun.
2023
Jul.
2023

Expenditure category

All items

259.930 - 263.407 2.0 1.3 -

All items (1967=100)

693.790 - 703.070 - - -

Food and beverages

257.076 - 260.443 2.7 1.3 -

Food

266.733 - 270.611 2.6 1.5 -

Food at home

256.261 258.442 259.973 -1.3 1.4 0.6

Cereals and bakery products

266.738 263.925 268.085 -2.1 0.5 1.6

Meats, poultry, fish, and eggs

231.095 231.980 232.264 -6.5 0.5 0.1

Dairy and related products

252.444 247.903 248.064 -3.2 -1.7 0.1

Fruits and vegetables

392.278 404.139 404.058 1.9 3.0 0.0

Nonalcoholic beverages and beverage materials(1)

181.178 182.727 189.226 1.5 4.4 3.6

Other food at home

217.226 219.535 218.980 -0.1 0.8 -0.3

Food away from home

284.402 - 288.567 11.1 1.5 -

Alcoholic beverages

164.969 - 163.726 2.7 -0.8 -

Housing

227.832 - 231.932 2.1 1.8 -

Shelter

231.340 233.013 236.612 2.7 2.3 1.5

Rent of primary residence(2)

226.298 228.793 230.390 5.5 1.8 0.7

Owners' equiv. rent of residences(2)

231.398 233.743 235.107 2.4 1.6 0.6

Owners' equiv. rent of primary residence(2)

231.398 233.743 235.107 2.4 1.6 0.6

Fuels and utilities

354.693 - 359.351 3.0 1.3 -

Household energy

357.636 363.454 363.852 3.5 1.7 0.1

Energy services

398.125 404.165 404.165 3.7 1.5 0.0

Electricity

336.551 338.252 338.252 4.4 0.5 0.0

Utility (piped) gas service

478.719 491.615 491.615 3.1 2.7 0.0

Household furnishings and operations

141.738 - 140.237 -2.8 -1.1 -

Apparel

158.217 - 158.116 0.2 -0.1 -

Transportation

292.705 - 298.093 2.1 1.8 -

Private transportation

297.033 - 306.668 0.8 3.2 -

New and used motor vehicles(3)

136.733 - 133.375 -1.7 -2.5 -

New vehicles(1)

280.280 - 277.630 1.2 -0.9 -

Used cars and trucks(1)

377.449 - 374.797 -6.2 -0.7 -

Motor fuel

334.230 353.683 370.941 -9.0 11.0 4.9

Gasoline (all types)

335.278 355.544 373.117 -8.4 11.3 4.9

Gasoline, unleaded regular(4)

323.399 342.975 360.401 -8.4 11.4 5.1

Gasoline, unleaded midgrade(4)(5)

322.629 342.238 357.718 -8.3 10.9 4.5

Gasoline, unleaded premium(4)

340.768 361.240 377.206 -8.0 10.7 4.4

Medical care

733.136 - 734.072 - 0.1 -

Recreation(3)

140.543 - 138.800 1.1 -1.2 -

Education and communication(3)

114.736 - 113.959 -1.3 -0.7 -

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

786.787 - 790.891 3.1 0.5 -

Other goods and services

448.774 - 493.715 20.4 10.0 -

Commodity and service group

All items

259.930 - 263.407 2.0 1.3 -

Commodities

213.766 - 215.883 -1.3 1.0 -

Commodities less food & beverages

192.057 - 193.384 -3.5 0.7 -

Nondurables less food & beverages

246.257 - 253.200 -3.5 2.8 -

Durables

146.541 - 144.046 -4.2 -1.7 -

Services

299.392 - 304.220 4.4 1.6 -

Special aggregate indexes

All items less medical care

243.685 - 247.186 1.9 1.4 -

All items less shelter

272.075 - 274.613 1.7 0.9 -

Commodities less food

191.186 - 192.348 -3.3 0.6 -

Nondurables

251.952 - 256.624 -0.5 1.9 -

Nondurables less food

239.801 - 245.672 -3.3 2.4 -

Services less rent of shelter(2)

412.458 - 415.877 6.5 0.8 -

Services less medical care services

273.554 - 278.454 4.5 1.8 -

Energy

344.850 357.807 367.041 -4.6 6.4 2.6

All items less energy

255.341 - 257.791 2.7 1.0 -

All items less food and energy

254.028 - 256.121 2.7 0.8 -

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: Wednesday, September 13, 2023