Internet Address: http://www.bls.gov/ro2/home.htm Transmission of material in Media Contact: Michael L. Dolfman,(212) 337-2500 this release is embargoed Information: Martin Kohli,(646) 264-3620 until after 8:30 A.M. (ET) Tuesday, December 16, 2008 NEW YORK-NORTHERN NEW JERSEY CPI DROPS 1.6 PERCENT IN NOVEMBER, UP 2.2 PERCENT FROM YEAR AGO Retail prices in the greater New York area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), fell 1.6 percent in November, the third consecutive monthly decrease. Michael L. Dolfman, Regional Commissioner of the U. S. Department of Labor's Bureau of Labor Statistics, noted that November's decline was the steepest one-month drop in New York area prices since the Bureau began publishing the index on a monthly basis in 1940. The record decrease was largely attributable to a sharp fall in the energy index led by declining gasoline prices. Reduced housing and apparel prices also contributed to the lower index. For the year ended in November 2008, the CPI-U advanced 2.2 percent, the smallest increase since 2002. The index for all items less food and energy rose 2.7 percent over the year. The energy index declined 14.2 percent in November, the largest monthly decrease since February 1987. November's drop, the fourth consecutive monthly decline, was primarily due to gasoline prices falling a record 26.4 percent. (See chart A.) The index for household energy declined 4.4 percent, due to lower prices for electricity and residential fuel oil. Natural gas prices, however, rose by 4.2 percent in November, following a 6.8-percent increase in October. For the year ended in November 2008, the energy index retreated 9.5 percent, largely due to a 24.6-percent decline in gasoline prices. The transportation index decreased 7.5 percent in November, due to the sharp drop in gasoline prices. Lower prices for used and leased cars and trucks also contributed to the November decline.New York-Northern New Jersey CPI monthly and annual percent changes (not seasonally adjusted) | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 Month | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann | Mo | Ann January 0.8 3.3 0.3 2.7 0.6 4.1 0.8 3.7 0.2 2.7 0.2 3.7 February 0.8 3.3 0.6 2.5 0.4 3.9 0.2 3.6 0.6 3.1 0.5 3.6 March 0.5 3.1 1.1 3.2 1.7 4.4 0.8 2.7 0.7 2.9 0.9 3.8 April -0.2 2.6 0.3 3.7 0.0 4.2 0.9 3.6 0.5 2.5 0.3 3.6 May 0.1 2.8 0.2 3.9 -0.5 3.4 0.6 4.8 0.6 2.5 1.0 4.0 June 0.1 2.8 0.8 4.6 -0.3 2.3 0.5 5.6 0.5 2.5 1.0 4.5 July 0.4 3.0 -0.2 3.9 0.9 3.4 0.2 5.0 0.2 2.5 0.7 5.1 August 0.7 3.1 0.1 3.3 0.8 4.1 0.4 4.7 -0.1 1.9 0.1 5.4 September 0.3 3.3 0.1 3.2 0.8 4.8 -0.5 3.3 0.0 2.4 -0.2 5.2 October 0.2 3.3 0.7 3.7 0.4 4.5 -0.5 2.4 0.1 3.1 -0.7 4.3 November -0.3 3.1 0.0 3.9 -0.6 3.9 -0.4 2.6 0.4 3.9 -1.6 2.2 December -0.1 3.2 -0.2 3.8 -0.5 3.6 0.2 3.3 0.0 3.7
The housing index decreased 0.8 percent in November, largely due to lower prices for household energy. The shelter component decreased 0.4 percent. The index for out-of-town lodging declined, while the indexes for owners' equivalent rent and residential rent advanced 0.2 and 0.4 percent, respectively. The index for household furnishings and operations fell 1.0 percent, in part because of lower prices for bedroom furniture. Prices for apparel fell 3.7 percent, reflecting pre-holiday sales, not uncommon at this time of year. Lower prices were reported for women's suits and separates, dresses, and men's suits, sport coats, and outerwear. Since November 2007, however, apparel prices have risen 3.9 percent. The food and beverages index was unchanged in November, after increasing for 19 straight months. A 0.2-percent decline in grocery prices was offset by increases for food away from home and for alcoholic beverages. For the 12 months ended in November 2008, prices for food and beverages rose 6.4 percent. Among other expenditure categories, the education and communication index inched up 0.1 percent in November. Medical care inched down 0.1 percent, and recreation prices decreased 0.3 percent, with price reductions for audio equipment. With the New York-Northern New Jersey Consumer Price Index for All Urban Consumers at 234.498 in November (1982-84=100), $23.45 was required to purchase what $10 could in the 1982-84 base period. The purchasing power of the dollar was 42.6 cents in 1982-84 dollars and 14.8 cents in 1967 dollars. In November, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 228.727, down 1.7 percent over the month. The CPI-W rose 2.2 percent over the year. On a 1967 base, the November CPI-W was 651.243. Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences. The New York-Northern New Jersey-Long Island, NY-NJ-CT-PA consolidated area comprises the five boroughs of New York City, Nassau, Suffolk, Westchester, Rockland, Putnam, Dutchess, and Orange Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Monmouth, Middlesex, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, New Haven and Middlesex Counties in Connecticut; and Pike County in Pennsylvania. NYLS - 7356 Labor - New York 12/15/08
Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods
New York-Northern N.J.-Long Island, NY-NJ-CT-PA (1982-84=100 unless otherwise noted)
Indexes Percent change from-
Item and Group
Sep. Oct. Nov. Nov. Sep. Oct.
2008 2008 2008 2007 2008 2008
Expenditure category
All items............................... 240.089 238.403 234.498 2.2 -2.3 -1.6
All items (1967=100).................... 694.064 689.190 677.900 - - -
Food and beverages..................... 226.728 228.086 228.189 6.4 .6 .0
Food.................................. 226.022 227.469 227.518 6.5 .7 .0
Food at home......................... 227.432 229.598 229.060 8.2 .7 -.2
Food away from home.................. 230.353 230.968 231.728 4.6 .6 .3
Alcoholic beverages................... 232.965 232.963 233.887 5.1 .4 .4
Housing................................ 258.439 257.047 254.912 2.8 -1.4 -.8
Shelter............................... 309.178 308.989 307.725 3.1 -.5 -.4
Rent of primary residence 1/......... 299.508 301.253 302.313 5.5 .9 .4
Owners' equivalent rent of primary
residence 1/ 2/.................. 314.933 315.708 316.402 3.4 .5 .2
Fuels and utilities................... 216.646 206.142 197.831 3.4 -8.7 -4.0
Household energy..................... 220.224 208.566 199.327 3.2 -9.5 -4.4
Gas (piped) and electricity 1/...... 205.583 196.765 192.300 4.2 -6.5 -2.3
Electricity 1/..................... 191.571 172.388 161.685 -.5 -15.6 -6.2
Utility piped)gas service 1/....... 229.714 245.375 255.610 12.3 11.3 4.2
Household furnishings and operations.. 127.420 128.179 126.961 -.7 -.4 -1.0
Apparel................................ 119.185 119.420 115.048 3.9 -3.5 -3.7
Transportation......................... 208.757 200.291 185.353 -5.5 -11.2 -7.5
Private transportation................ 198.879 190.389 174.393 -6.7 -12.3 -8.4
Motor fuel........................... 278.997 240.938 177.894 -24.2 -36.2 -26.2
Gasoline (all types)................ 277.603 239.551 176.390 -24.6 -36.5 -26.4
Gasoline, unleaded regular 3/...... 281.104 240.551 175.580 -25.9 -37.5 -27.0
Gasoline, unleaded midgrade 3/4/... 277.454 245.311 182.606 -21.8 -34.2 -25.6
Gasoline, unleaded premium 3/...... 273.482 238.551 180.129 -21.8 -34.1 -24.5
Medical care........................... 368.930 367.629 367.298 1.1 -.4 -.1
Recreation 5/.......................... 115.340 115.532 115.171 1.2 -.1 -.3
Education and communication 5/......... 132.151 132.926 133.122 4.6 .7 .1
Other goods and services............... 353.597 354.472 348.845 2.9 -1.3 -1.6
Commodity and service group
All items............................... 240.089 238.403 234.498 2.2 -2.3 -1.6
Commodities............................ 185.511 182.371 175.447 .0 -5.4 -3.8
Commodities less food and beverages... 156.450 151.290 141.312 -4.5 -9.7 -6.6
Nondurables less food and beverages.. 196.667 187.541 169.745 -4.6 -13.7 -9.5
Durables............................. 105.221 104.737 103.968 -4.3 -1.2 -.7
Services............................... 286.893 286.410 285.001 3.3 -0.7 -0.5
Special aggregate indexes
All items less medical care............. 234.119 232.433 228.442 2.2 -2.4 -1.7
All items less shelter.................. 213.176 210.814 205.703 1.6 -3.5 -2.4
Commodities less food................... 159.751 154.709 144.985 -4.1 -9.2 -6.3
Nondurables............................. 214.185 209.944 200.453 1.1 -6.4 -4.5
Nondurables less food................... 199.276 190.601 173.737 -3.9 -12.8 -8.8
Services less rent of shelter 2/........ 272.156 271.275 269.623 3.6 -.9 -.6
Services less medical care services..... 279.599 279.180 277.695 3.4 -.7 -.5
Energy.................................. 245.543 222.851 191.180 -9.5 -22.1 -14.2
All items less energy................... 241.221 241.579 240.364 3.2 -.4 -.5
All items less food and energy......... 245.494 245.648 244.187 2.7 -.5 -.6
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/ Special index based on a substantially smaller sample.
4/ Indexes on a December 1993=100 base.
5/ Indexes on a December 1997=100 base.
- Data not available.
Last Modified Date: December 16, 2008
