Internet Address: www.bls.gov/ro2/home.htm FOR RELEASE: Wednesday, April 15, 2009 Media Contact: Michael L. Dolfman,(212) 337-2500 Information: Martin Kohli,(646) 264-3620
NORTHEAST REGION CONSUMER PRICE INDEX: MARCH 2009 Smallest Ever Over-the-Year Increase Retail prices in the Northeast region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 0.2 percent in March, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Michael L. Dolfman, the Bureau's regional commissioner, noted that higher prices for housing, other goods and services, and apparel were partially offset by lower prices for food and beverages; the four remaining major categories had little or no change over the month. (See chart A.) The March level of 227.309 (1982-84 = 100) was 0.2 percent higher than in March 2008-the smallest 12-month increase since the inception of the index in December 1966. Over the same period, the core inflation rate, as measured by the all items less food and energy index, rose 2.1 percent. (See table 1.) The housing index rose 0.2 percent since February, due entirely to a 0.6-percent increase in shelter prices. The shelter index, which includes rent of primary residence, lodging away from home, owners' equivalent rent of primary residence, and tenants' and household insurance, rose 1.6 percent over the year. Prices for fuels and utilities decreased 1.2 percent over the month, as lower utility (piped) gas service prices more than offset higher electricity prices. Utility gas service prices decreased for the fourth straight month, down 9.2 percent since November and 2.9 percent since February. Despite the recent declines, utility gas service prices were 0.2 percent higher than last March. Electricity prices were 0.2 percent higher over the month and 6.7 percent higher over the year. The fuels and utilities index fell 3.0 percent over the year-the largest 12-month decrease since September 2002. The household furnishings and operations index declined 0.4 percent in March but was 0.8 percent higher from its year-ago level. The overall housing index rose 0.9 percent over the last 12 months. The other goods and services index (which includes tobacco and smoking products, personal care products, personal care services, and miscellaneous personal services such as legal, funeral, and laundry and dry cleaning services) rose 3.0 percent in March-the largest one-month gain since December 1998. Over the year, the other goods and services index advanced 7.1 percent. Following a 5.4-percent increase in February, apparel prices rose 2.5 percent in March. The recent one-month advance was lower than the 3.9-percent average seasonal increase in March for the previous five years. Over the year, apparel prices rose 3.0 percent. Following a 0.1-percent decrease in February, the education and communication index inched up 0.1 percent in March to a level 4.4 percent higher than last year. Medical care prices were unchanged over the month as lower prices for medical care commodities were offset by higher prices for medical care services. Following four months of increases totaling 2.2 percent, medical care commodities prices were down 0.6 percent in March. Over the year, medical care commodities prices were 1.9 percent higher. Medical care services prices edged up 0.2 percent over the month and were 2.7 percent higher than last year. The medical care index rose 2.5 percent over the last 12 months. The remaining indexes had lower prices in March. Food and beverages prices were down 0.3 percent in March dominated by a 0.7- percent decrease in food at home prices. Despite the recent decline, food at home prices were 4.3 percent higher over the year. Prices for alcoholic beverages were 0.4 percent lower since February but were 3.2 percent higher since last year. Prices for food away from home inched up 0.1 percent since February and were 4.4 percent higher since March 2008. The overall food and beverages index increased 4.3 percent from its year-ago level. Transportation prices declined 0.1 percent over the month as lower prices for new and used motor vehicles, particularly used cars and trucks, were nearly offset by higher gasoline prices. Used cars and trucks prices declined for the eighth straight month, down 10.2 percent since July and 1.4 percent since last month. Over the year, prices for used cars and trucks were down 11.1 percent. Following a 9.0-percent jump in February, gasoline prices increased 1.0 percent in March. Despite the recent increases, gasoline prices were 38.2 percent lower than 12 months ago. The overall transportation index declined 11.2 percent over the year. The recreation index inched down 0.1 percent since February and was 2.5 percent higher than a year ago. Following a 2.0-percent rise in February, the energy index, which reflects prices for gasoline and household fuels, fell 0.6 percent in March. The recent decline was dominated by lower utility gas service prices (-2.9 percent). Moderating the decrease in the overall energy index were higher prices for gasoline (1.0 percent) and electricity (0.2 percent). Over the year, energy prices were down 20.6 percent-the largest 12-month decline since December 1986. The Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. NYLS -7374 Labor - New York 4/15/09 The relative importance of a component of the CPI is its expenditure or value weight expressed as a percentage of all items within an area. Relative importance ratios show approximately how the index population distributes expenditures when the value weights are collected and represent an estimate of how consumers would distribute their expenditures as prices change over time. Relative importance ratios cannot be used as estimates of current spending patterns or as indicators of changing consumer expenditures in the intervals between weight revisions because consumption patterns are influenced by factors-including income, variations in climate, family size, and availability of new and different kinds of goods and services-other than price change. (See table A.) Table A (2005-2006 Weights). Relative importance of components in the Consumer Price Index, Northeast Region, December 2008 ---------------------------------------------------------------- Item and group CPI-U ---------------------------------------------------------------- Expenditure category All items............................................ 100.000 Food and beverages.................................. 15.794 Food............................................... 14.702 Food at home...................................... 8.174 Food away from home............................... 6.528 Alcoholic beverages............................... 1.093 Housing............................................. 44.880 Shelter............................................ 35.109 Rent of primary residence......................... 6.747 Owners' equivalent rent of primary residence...... 24.949 Fuels and utilities................................ 5.834 Household energy.................................. 5.137 Gas (piped) and electricity...................... 4.262 Electricity..................................... 2.758 Utility (piped) gas service..................... 1.504 Household furnishings and operations............... 3.937 Apparel............................................. 3.712 Transportation...................................... 14.128 Private transportation............................. 12.779 New and used vehicles............................. 6.150 New vehicles..................................... 3.963 Used cars and trucks............................. 1.205 Motor fuel......................................... 2.756 Gasoline (all types).............................. 2.624 Medical care........................................ 5.885 Medical care commodities........................... 1.498 Medical care services.............................. 4.387 Professional care services........................ 2.561 Recreation.......................................... 5.505 Education and communication......................... 6.700 Other goods and services............................ 3.395 Commodity and service group Commodities......................................... 37.438 Commodities less food and beverages................ 21.644 Nondurables less food and beverages............... 12.954 Durables.......................................... 8.690 Services............................................ 62.562 Special aggregate indexes All items less medical care......................... 94.115 All items less shelter.............................. 64.891 Commodities less food............................... 22.736 Nondurables......................................... 28.748 Nondurables less food............................... 14.046 Services less rent of shelter....................... 27.734 Services less medical care services................. 58.175 Energy.............................................. 7.893 All items less energy............................... 92.107 All items less food and energy..................... 77.405 ----------------------------------------------------------------- Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods Northeast (1982-84=100 unless otherwise noted) Indexes Percent change from- Item and Group Jan. Feb. Mar. Mar. Jan. Feb. 2009 2009 2009 2008 2009 2009 Expenditure category All items.................................... 225.436 226.754 227.309 0.2 0.8 0.2 All items (December 1977=100) ............... 354.993 357.068 357.943 - - - Food and beverages.......................... 224.635 224.135 223.369 4.3 -.6 -.3 Food....................................... 224.347 223.792 223.030 4.4 -.6 -.3 Food at home.............................. 225.544 223.870 222.341 4.3 -1.4 -.7 Food away from home....................... 225.957 226.805 226.997 4.4 .5 .1 Alcoholic beverages........................ 227.236 227.482 226.674 3.2 -.2 -.4 Housing..................................... 241.470 242.192 242.790 .9 .5 .2 Shelter.................................... 286.241 287.816 289.419 1.6 1.1 .6 Rent of primary residence 1/.............. 280.655 281.059 282.177 4.1 .5 .4 Owners' equivalent rent of primary residence 1/ 2/ ...................... 297.258 298.020 299.165 2.4 .6 .4 Fuels and utilities........................ 219.799 217.454 214.764 -3.0 -2.3 -1.2 Household energy.......................... 205.871 203.047 200.153 -4.3 -2.8 -1.4 Gas (piped) and electricity 1/........... 214.030 211.253 209.525 4.5 -2.1 -.8 Electricity 1/.......................... 192.769 191.306 191.754 6.7 -.5 .2 Utility (piped) gas service 1/.......... 252.562 246.651 239.528 .2 -5.2 -2.9 Household furnishings and operations....... 129.562 129.640 129.155 .8 -.3 -.4 Apparel..................................... 113.182 119.300 122.298 3.0 8.1 2.5 Transportation.............................. 167.860 170.713 170.563 -11.2 1.6 -.1 Private transportation..................... 161.141 164.479 164.358 -11.7 2.0 -.1 New and used motor vehicles 3/............ 92.394 92.792 92.407 -.5 .0 -.4 New vehicles............................. 132.874 133.606 133.613 -.7 .6 .0 New cars and trucks 3/ 4/............... 92.065 92.581 92.584 -.8 .6 .0 New cars 4/............................. 132.008 132.234 132.230 -.5 .2 .0 Used cars and trucks..................... 130.200 128.260 126.522 -11.1 -2.8 -1.4 Motor fuel................................ 150.517 162.892 164.039 -38.3 9.0 .7 Gasoline (all types)..................... 147.842 161.170 162.810 -38.2 10.1 1.0 Gasoline, unleaded regular 4/........... 146.614 160.444 162.143 -39.0 10.6 1.1 Gasoline, unleaded midgrade 4/ 5/....... 153.995 167.095 168.526 -36.8 9.4 .9 Gasoline, unleaded premium 4/........... 149.944 161.190 162.710 -35.6 8.5 .9 Medical care................................ 393.464 395.126 395.059 2.5 .4 .0 Medical care commodities................... 322.969 325.899 324.067 1.9 .3 -.6 Medical care services...................... 412.216 413.277 413.980 2.7 .4 .2 Professional services..................... 321.954 321.836 321.854 2.3 .0 .0 Recreation 3/............................... 116.976 117.482 117.408 2.5 0.4 -0.1 Education and communication 3/.............. 130.356 130.210 130.347 4.4 .0 .1 Other goods and services.................... 374.995 375.980 387.325 7.1 3.3 3.0 Commodity and service group All items.................................... 225.436 226.754 227.309 .2 .8 .2 Commodities................................. 169.361 171.192 171.538 -3.5 1.3 .2 Commodities less food and beverages........ 138.384 141.210 142.048 -8.4 2.6 .6 Nondurables less food and beverages....... 163.769 169.398 171.383 -11.7 4.6 1.2 Nondurables less food, beverages, and apparel.............................. 204.118 209.546 210.862 -16.6 3.3 .6 Durables.................................. 107.671 107.654 107.342 -2.6 -.3 -.3 Services.................................... 280.383 281.194 281.955 2.5 .6 .3 Rent of shelter 2/ ........................ 299.416 301.072 302.760 1.6 1.1 .6 Transportation services.................... 236.822 237.263 236.479 3.4 -.1 -.3 Other services............................. 322.163 322.503 322.942 3.6 .2 .1 Special aggregate indexes All items less medical care.................. 217.938 219.234 219.807 .0 .9 .3 All items less food.......................... 225.928 227.574 228.359 -.5 1.1 .3 All items less shelter....................... 204.787 206.022 206.178 -.6 .7 .1 Commodities less food........................ 141.620 144.379 145.171 -7.9 2.5 .5 Nondurables.................................. 193.918 196.661 197.347 -3.7 1.8 .3 Nondurables less food........................ 167.350 172.664 174.487 -10.8 4.3 1.1 Nondurables less food and apparel............ 204.603 209.489 210.590 -15.0 2.9 .5 Services less rent of shelter 2/. ........... 284.050 283.929 283.657 3.6 -.1 -.1 Services less medical care services.......... 270.838 271.628 272.384 2.5 .6 .3 Energy....................................... 182.447 186.018 184.825 -20.6 1.3 -.6 All items less energy........................ 232.149 233.236 233.985 2.5 .8 .3 All items less food and energy.............. 234.949 236.368 237.422 2.1 1.1 .4 Commodities less food and energy commodities............................ 141.835 143.560 144.624 1.4 2.0 .7 Energy commodities......................... 166.892 176.705 175.924 -37.4 5.4 -.4 Services less energy services.............. 287.005 288.168 289.173 2.4 .8 .3 1/ This index series was calculated using a Laspeyres estimator. All other item stratum index series were calculated using a geometric means estimator. 2/ Index is 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.
Last Modified Date: April 16, 2009