Department of Labor Logo United States Department of Labor
Dot gov

The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

Https

The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

News Release Information

24-53-SAN
Thursday, January 11, 2024

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

Consumer Price Index, San Francisco Area — December 2023

Area prices were down 0.4 percent over the past two months, up 2.6 percent from a year ago

Prices in the San Francisco area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), declined 0.4 percent for the two months ending in December 2023, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the December decrease was influenced by lower prices for gasoline. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 2.6 percent. (See chart 1 and table A.) Food prices advanced 2.0 percent. Energy prices increased 6.0 percent, largely the result of an increase in the price of electricity. The index for all items less food and energy rose 2.5 percent over the year. (See table 1.)

Food

Food prices were unchanged for the two months ending in December. (See table 1.) Prices for food at home decreased 0.1 percent, with lower prices in four of the six grocery categories. Prices for food away from home increased 0.3 percent for the same period.

Over the year, food prices advanced 2.0 percent. Prices for food at home advanced 1.1 percent since a year ago, led by higher prices for cereals and bakery products (5.8 percent). Prices for food away from home increased 4.2 percent.

Energy

The energy index decreased 7.7 percent for the two months ending in December. The decrease was mainly due to lower prices for gasoline (-15.3 percent). Prices for natural gas service advanced 1.5 percent, while prices for electricity were unchanged for the same period.

Energy prices increased 6.0 percent over the year, largely due to higher prices for electricity (14.1 percent). Prices paid for gasoline rose 4.5 percent, but prices for natural gas service moved down 4.4 percent during the past year.

All items less food and energy

The index for all items less food and energy increased 0.1 percent in the latest two-month period. Higher prices for recreation (1.8 percent) and shelter (0.4 percent) were partially offset by lower prices for apparel (-2.1 percent), new vehicles (-1.1 percent), and household furnishings and operations (-1.0 percent).

Over the year, the index for all items less food and energy rose 2.5 percent. Components contributing to the increase included household furnishings and operations (4.2 percent) and shelter (2.9 percent).  Partly offsetting the increases was a price decrease in new and used motor vehicles (-2.8 percent).

Table A. San Francisco-Oakland-Hayward, CA, 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

0.5 3.5 0.9 2.9 0.5 1.6 1.4 5.2 1.8 5.3

April

1.2 4.0 -0.5 1.1 1.7 3.8 1.5 5.0 0.4 4.2

June

0.2 3.2 0.7 1.6 0.0 3.2 1.7 6.8 0.5 2.9

August

0.1 2.7 0.0 1.6 0.5 3.7 -0.5 5.7 0.0 3.4

October

1.0 3.0 0.5 1.1 0.7 3.8 1.0 6.0 0.3 2.8

December

-0.5 2.5 0.4 2.0 0.8 4.2 -0.3 4.9 -0.4 2.6

The February 2024 Consumer Price Index for the San Francisco area is scheduled to be released on March 12, 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 San Francisco-Oakland-Hayward, CA. metropolitan area covered in this release is comprised of Alameda, Contra Costa, Marin, San Francisco, San Mateo Counties in the State of California.

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

San Francisco-Oakland-Hayward, CA (1982-84=100 unless otherwise noted)
Item and Group

Indexes Percent change from-
Historical
data
Oct.
2023
Nov.
2023
Dec.
2023
Dec.
2022
Oct.
2023
Nov.
2023

Expenditure category

All items

341.219 - 339.915 2.6 -0.4 -

All items (1967=100)

1,049.001 - 1,044.992 - - -

Food and beverages

363.712 - 363.840 1.8 0.0 -

Food

366.142 - 366.135 2.0 0.0 -

Food at home

330.300 331.668 329.906 1.1 -0.1 -0.5

Cereals and bakery products

332.010 332.105 339.664 5.8 2.3 2.3

Meats, poultry, fish, and eggs

359.247 357.353 354.307 -0.6 -1.4 -0.9

Dairy and related products

336.736 338.795 335.272 -2.9 -0.4 -1.0

Fruits and vegetables

415.948 425.003 421.261 1.6 1.3 -0.9

Nonalcoholic beverages and beverage materials(1)

249.969 247.139 249.052 2.3 -0.4 0.8

Other food at home

285.068 286.929 282.604 1.1 -0.9 -1.5

Food away from home

409.744 - 410.907 4.2 0.3 -

Alcoholic beverages

338.114 - 339.751 0.3 0.5 -

Housing

393.659 - 394.624 3.3 0.2 -

Shelter

437.202 439.423 438.935 2.9 0.4 -0.1

Rent of primary residence(2)

502.626 504.344 503.443 3.3 0.2 -0.2

Owners' equiv. rent of residences(2)(3)

468.810 472.042 473.364 3.4 1.0 0.3

Owners' equiv. rent of primary residence(1)(2)

468.810 472.042 473.364 3.4 1.0 0.3

Fuels and utilities

587.603 - 589.028 6.7 0.2 -

Household energy

551.068 540.760 553.097 7.4 0.4 2.3

Energy services(2)

553.244 543.193 555.858 7.6 0.5 2.3

Electricity(2)

619.499 619.499 619.499 14.1 0.0 0.0

Utility (piped) gas service(2)

436.938 411.184 443.636 -4.4 1.5 7.9

Household furnishings and operations

174.636 - 172.870 4.2 -1.0 -

Apparel

114.346 - 111.920 2.1 -2.1 -

Transportation

256.018 - 247.126 1.5 -3.5 -

Private transportation

257.641 - 249.414 2.0 -3.2 -

New and used motor vehicles(4)

117.888 - 115.797 -2.8 -1.8 -

New vehicles(1)

194.805 - 192.742 -0.8 -1.1 -

Used cars and trucks(1)

333.804 - 336.141 -1.3 0.7 -

Motor fuel

401.688 366.097 340.105 4.4 -15.3 -7.1

Gasoline (all types)

399.007 363.594 337.774 4.5 -15.3 -7.1

Gasoline, unleaded regular(4)

399.529 363.701 337.497 4.4 -15.5 -7.2

Gasoline, unleaded midgrade(4)(5)

371.517 338.913 315.542 4.1 -15.1 -6.9

Gasoline, unleaded premium(4)

376.494 344.458 321.384 4.6 -14.6 -6.7

Medical care

594.003 - 592.166 - -0.3 -

Recreation(6)

144.574 - 147.155 2.8 1.8 -

Education and communication(6)

160.472 - 160.119 0.0 -0.2 -

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

1,945.129 - 1,945.129 0.1 0.0 -

Other goods and services

632.977 - 629.293 10.5 -0.6 -

Commodity and service group

All items

341.219 - 339.915 2.6 -0.4 -

Commodities

236.108 - 231.217 0.3 -2.1 -

Commodities less food & beverages

169.145 - 163.499 -0.7 -3.3 -

Nondurables less food & beverages

230.276 - 215.722 1.1 -6.3 -

Durables

115.076 - 114.121 -2.0 -0.8 -

Services

429.785 - 431.650 3.8 0.4 -

Special aggregate indexes

All items less medical care

330.728 - 329.449 2.8 -0.4 -

All items less shelter

304.254 - 301.270 2.4 -1.0 -

Commodities less food

176.660 - 171.059 -0.6 -3.2 -

Nondurables

299.255 - 291.148 1.5 -2.7 -

Nondurables less food

238.950 - 225.330 1.1 -5.7 -

Services less rent of shelter(3)

444.924 - 447.129 5.3 0.5 -

Services less medical care services

418.547 - 420.467 4.1 0.5 -

Energy

462.892 437.651 427.354 6.0 -7.7 -2.4

All items less energy

339.705 - 339.937 2.4 0.1 -

All items less food and energy

336.518 - 336.781 2.5 0.1 -

Footnotes
(1) Indexes on a December 1977=100 base.
(2) This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator.
(3) Indexes on a December 1982=100 base.
(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.

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

 

Last Modified Date: Thursday, January 11, 2024