Bureau of Labor Statistics
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BLS 08-78 |
INCREASE 4.2 PERCENT OVER THE PAST YEAR
The Bureau of Labor Statistics of the U.S. Department of Labor reported today that the August 2008 All Items Consumer Price Index (CPI) in the San Francisco-Oakland-San Jose area increased 4.2 percent over the past 12 months. This matches the 4.2 percent increase for the June 2007 to June 2008 period. Regional Commissioner Richard J. Holden noted that increasing transportation prices contributed significantly to the recent annual gain. Additionally, over the past two months, Bay Area consumer prices edged up 0.1 percent. Local Consumer Price Index data are not seasonally adjusted.
Transportation prices in the San Francisco area decreased by 3.1 percent between June and August. The transportation index, accounts for about 17 percent of the CPI All Items Index and exhibited the largest bi-monthly decrease among the eight major CPI expenditure categories. Over the past 12 months, however, transportation prices advanced 12.3 percent. Within the transportation index, gasoline prices declined 8.4 percent over the past two months, but advanced 38.3 percent over the past year.
The housing index, which comprises approximately 46 percent of the San Francisco area's all items index, increased 0.8 since June and has advanced 2.3 percent compared to 12 months ago. Shelter, household fuels and utilities, and household furnishings and operations are all components of the housing index. Shelter increased 0.6 percent over the past two months and advanced 1.9 percent over the past year. Household fuels and utilities increased 1.4 percent since June and advanced 8.4 percent since August 2007. Within household fuels and utilities, prices for the utility (piped) gas service index rose 3.1 percent and electricity prices were unchanged during the past two months. Since August 2007, the utility (piped) gas service index jumped 36.8 percent, while electricity prices decreased 1.0 percent. Meanwhile, household furnishings and operations rose 1.9 percent since June and advanced 2.0 percent from a year ago.
The San Francisco area's food and beverages index, which accounts for 14 percent of the San Francisco all items index, grew 0.4 percent since June and was 3.8 percent higher than last year's level. The food at home index, which measures grocery prices, increased 1.1 percent over the past two months and advanced 4.4 percent from a year ago. Food away from home prices were unchanged since June and advanced 3.2 percent since August 2007. Additionally, prices for alcoholic beverages declined 1.2 percent over the past two months and advanced 2.7 percent over the past year.
Medical care prices decreased 0.4 percent since June and increased 2.3 percent since August 2007.
The apparel index increased 3.8 percent over the past two months, but decreased 1.6 percent over the past year.
The San Francisco area education and communication index rose 1.1 percent since June and has increased 4.9 percent compared to August 2007.
Among the remaining major expenditure categories, the recreation index increased 0.3 percent and the other goods and services index increased 1.7 percent between June and August. Over the past year, recreation prices were up 2.5 percent and other goods and services prices rose 5.2 percent.
The all items less food and energy special aggregate index increased 0.7 percent since June. Over the past 12 months, the index has advanced 2.4 percent. Additionally, the special energy aggregate index was down 5.7 percent over the past two months, but stood 27.3 percent higher than in August 2007.
The All Items Consumer Price Index for All Urban Consumers (CPI-U) in the San Francisco-Oakland-San Jose Consolidated Metropolitan Statistical Area, stands at 225.411 (1982-84=100). This means a market basket of goods and services that cost $100.00 in 1982-84 would have cost $225.41 in August 2008.
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Last Modified Date: September 19, 2008
