Web site: www.bls.gov/ro3/ |
PLS - 4562 For Release: Friday, August 14, 2009 |
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Information: | Tom McGettigan (215) 597-3282 |
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Media Contact: | Gerald Perrins (215) 861-5600 |
NORTHEAST REGION CONSUMER PRICE INDEX: JULY 2009 (PDF)
Largest 12-Month Decrease in Over 41 Years
Retail prices in the Northeast region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), inched up 0.1 percent in July, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that increases in most major categories (led by housing and transportation) were nearly offset by lower prices for apparel and food and beverages. (See chart A.) The July level of 230.154 (1982-84 = 100) was 1.9 percent lower than in July 2008—the largest over-the-year decline since the inception of this index in December 1966. Over the same period, the core inflation rate, as measured by the all items less food and energy index, rose 1.7 percent. (See table 1.)
Chart A. 1-month and 12-month percent changes ended July 2009 for the major categories of the CPI-U for the Northeast region, not seasonally adjusted
The housing index increased 0.3 percent in July due entirely to a 0.5-percent rise 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, was 1.3 percent higher over the year. Moderating the rise in the overall housing index were lower prices for both household furnishings and operations and fuels and utilities. The household furnishings and operations index decreased 0.3 percent over the month but was 0.5 percent higher over the year. The fuels and utilities index inched down 0.1 percent since June, as both electricity and utility (piped) gas service prices decreased over the month. Over the year, electricity prices fell 2.7 percent and utility gas prices dropped 31.3 percent—the largest 12-month decrease since the inception of this index in December 1977. Since July 2008, fuels and utilities prices dropped 17.7 percent. The overall housing index declined 1.6 percent over the last 12 months.
Due in part to higher prices for new vehicles, the transportation index rose 0.4 percent in July. The new vehicles index also rose 0.4 percent since June and was 0.5 percent higher over the year. Also contributing to the overall rise in the transportation index were higher prices for used cars and trucks, up 0.5 percent since June but down 7.9 percent over the year. Following five months of increases totaling 47.0 percent, gasoline prices fell 1.0 percent in July. Due to strong declines in the second half of 2008, gasoline prices were 36.1 percent below year-ago levels. The overall transportation index declined 12.4 percent over the last 12 months.
Following a 0.1-percent decline in June, the education and communication index rose 0.5 percent in July. Due to 9 increases over the last 12 months, the education and communication index was 3.8 percent higher than last year.
The other goods and services index advanced 0.4 percent in July. Over the year, 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) increased 5.9 percent.
The medical care index edged up 0.2 percent in July, due to a 0.3-percent increase in medical care services prices. Over the last 12 months, the medical care services index was 2.1 percent higher. Medical care commodities prices inched down 0.1 percent since June but were 2.4 percent higher over the year. The medical care index rose 2.2 percent since July 2008.
The recreation index inched up 0.1 percent in July to a level 3.2 percent higher than last year—the largest 12-month increase since June 2006.
The remaining indexes had lower prices in July. Apparel prices decreased for the fourth consecutive month, down 8.8 percent since March and 3.8 percent since June. The recent one-month decrease followed normal seasonal patterns, similar to the 3.5-percent average decrease in July for the last five years. Over the year, apparel prices were nearly unchanged, down just 0.2 percent.
Due to lower food at home prices, the food and beverages index declined 0.3 percent over the month. Food at home prices decreased for the sixth straight month, down 2.9 percent since January and 0.6 percent since June. Over the last 12 months, food at home prices were 0.3 percent lower. The food away from home index was unchanged in July, but was 3.2 percent higher than last year. Alcoholic beverages prices increased 0.2 percent since June and 3.1 percent since July 2008. The overall food and beverages index rose 1.4 percent from its year-ago level.
Following an 8.4-percent jump in June, the energy index decreased 0.6 percent in July. The recent decline was led by lower gasoline prices (-1.0 percent). Also contributing to the decrease were lower electricity (-0.4 percent) and utility gas service (-0.7 percent) prices. Over the year, energy prices were 28.5 percent lower—the largest 12-month decrease since the inception of this index in December 1977
The Northeast region is comprised of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
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.)
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 motor 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 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 |
Expenditure category | Indexes | Percent change from |
|||||
---|---|---|---|---|---|---|---|
Historical data |
May 2009 |
Jun. 2009 |
Jul. 2009 |
Jul. 2008 |
May 2009 |
Jun. 2009 |
|
All items |
228.136 | 229.930 | 230.154 | -1.9 | 0.9 | 0.1 | |
All items (December 1977 = 100) |
359.244 | 362.070 | 362.423 | ||||
Food and beverages |
223.364 | 223.125 | 222.428 | 1.4 | -0.4 | -0.3 | |
Food |
222.862 | 222.573 | 221.789 | 1.3 | -0.5 | -0.4 | |
Food at home |
221.287 | 220.534 | 219.104 | -0.3 | -1.0 | -0.6 | |
Food away from home |
227.945 | 228.236 | 228.254 | 3.2 | 0.1 | 0.0 | |
Alcoholic beverages |
228.890 | 229.338 | 229.833 | 3.1 | 0.4 | 0.2 | |
Housing |
242.200 | 243.764 | 244.611 | -1.6 | 1.0 | 0.3 | |
Shelter |
290.563 | 291.794 | 293.197 | 1.3 | 0.9 | 0.5 | |
Rent of primary residence (1) |
283.074 | 283.196 | 283.326 | 2.9 | 0.1 | 0.0 | |
300.754 | 300.841 | 301.881 | 2.7 | 0.4 | 0.3 | ||
Fuels and utilities |
204.506 | 210.294 | 210.123 | -17.7 | 2.7 | -0.1 | |
Household energy |
189.016 | 195.370 | 194.622 | -20.5 | 3.0 | -0.4 | |
Gas (piped) and electricity (1) |
196.033 | 202.388 | 201.481 | -12.9 | 2.8 | -0.4 | |
Electricity (1) |
189.455 | 198.946 | 198.218 | -2.7 | 4.6 | -0.4 | |
Utility (piped) gas service (1) |
198.620 | 196.567 | 195.272 | -31.3 | -1.7 | -0.7 | |
Household furnishings and operations |
129.805 | 129.384 | 129.045 | 0.5 | -0.6 | -0.3 | |
Apparel |
120.491 | 115.915 | 111.496 | -0.2 | -7.5 | -3.8 | |
Transportation |
176.041 | 182.714 | 183.430 | -12.4 | 4.2 | 0.4 | |
Private transportation |
170.461 | 177.272 | 177.487 | -12.7 | 4.1 | 0.1 | |
New and used motor vehicles (3) |
93.019 | 92.900 | 93.556 | 0.4 | 0.6 | 0.7 | |
New vehicles |
135.293 | 134.775 | 135.272 | 0.5 | 0.0 | 0.4 | |
93.759 | 93.397 | 93.739 | 0.5 | 0.0 | 0.4 | ||
New cars (4) |
133.207 | 132.553 | 133.133 | -0.5 | -0.1 | 0.4 | |
Used cars and trucks |
127.677 | 129.172 | 129.842 | -7.9 | 1.7 | 0.5 | |
Motor fuel |
188.335 | 217.435 | 215.513 | -36.4 | 14.4 | -0.9 | |
Gasoline (all types) |
187.816 | 217.258 | 215.160 | -36.1 | 14.6 | -1.0 | |
Gasoline, unleaded regular (4) |
187.927 | 218.015 | 215.701 | -36.6 | 14.8 | -1.1 | |
192.342 | 221.564 | 219.923 | -35.1 | 14.3 | -0.7 | ||
Gasoline, unleaded premium (4) |
184.989 | 211.249 | 209.941 | -34.4 | 13.5 | -0.6 | |
Medical care |
395.546 | 395.801 | 396.678 | 2.2 | 0.3 | 0.2 | |
Medical care commodities |
326.579 | 327.796 | 327.377 | 2.4 | 0.2 | -0.1 | |
Medical care services |
413.572 | 413.401 | 414.815 | 2.1 | 0.3 | 0.3 | |
Professional services |
322.821 | 322.791 | 322.954 | 1.3 | 0.0 | 0.1 | |
Recreation (3) |
117.244 | 119.426 | 119.571 | 3.2 | 2.0 | 0.1 | |
Education and communication (3) |
130.868 | 130.748 | 131.465 | 3.8 | 0.5 | 0.5 | |
Other goods and services |
392.734 | 393.621 | 395.329 | 5.9 | 0.7 | 0.4 | |
Commodity and service group |
|||||||
Commodities |
173.854 | 175.618 | 174.675 | -6.1 | 0.5 | -0.5 | |
Commodities less food and beverages |
145.337 | 147.948 | 146.927 | -10.6 | 1.1 | -0.7 | |
Nondurables less food and beverages |
177.031 | 182.404 | 180.328 | -15.3 | 1.9 | -1.1 | |
Durables |
108.198 | 108.013 | 108.062 | -1.6 | -0.1 | 0.0 | |
Services |
281.315 | 283.138 | 284.510 | 0.8 | 1.1 | 0.5 | |
Special aggregate indexes |
|||||||
All items less shelter |
206.892 | 208.929 | 208.698 | -3.5 | 0.9 | -0.1 | |
All items less medical care |
220.639 | 222.474 | 222.674 | -2.1 | 0.9 | 0.1 | |
Commodities less food |
148.441 | 150.997 | 150.018 | -10.0 | 1.1 | -0.6 | |
Nondurables |
200.336 | 203.068 | 201.635 | -7.3 | 0.6 | -0.7 | |
Nondurables less food |
179.933 | 185.018 | 183.092 | -14.2 | 1.8 | -1.0 | |
Services less rent of shelter (2) |
280.781 | 283.429 | 284.805 | 0.3 | 1.4 | 0.5 | |
Services less medical care services |
271.738 | 273.642 | 274.997 | 0.8 | 1.2 | 0.5 | |
Energy |
188.600 | 204.517 | 203.276 | -28.5 | 7.8 | -0.6 | |
All items less energy |
234.502 | 234.791 | 235.175 | 1.7 | 0.3 | 0.2 | |
All items less food and energy |
238.078 | 238.483 | 239.102 | 1.7 | 0.4 | 0.3 | |
Footnotes |
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Note: Index applies to a month as a whole, not to any specific date. |
Last Modified Date: August 14, 2009