FOR FURTHER INFORMATION: FOR RELEASE: Cheryl Abbot, Regional Economist August 14, 2009 (972) 850-4800 http://www.bls.gov/ro6/home.htm DALLAS-FORT WORTH CONSUMER PRICE INDEX: JULY 2009 Prices Up in Latest Period, but Down Over the Year Prices in the Dallas-Fort Worth metropolitan area rose 0.7 percent during June and July, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Regional Commissioner Stanley W. Suchman noted that the latest advance was primarily the result of higher transportation costs, although housing, food and beverages, and other goods and services also contributed. During the year ended in July 2009, total prices fell 2.8 percent. This was the second consecutive annual decline, but only the third time local prices have fallen over the year since the series inception in 1963. These data are based on the Consumer Price Index for All Urban Consumers (CPI-U). 2-Month and 12-Month Percent Change Ended July 2009 CPI-U by Major Category for Dallas-Fort WorthThe transportation index rose 3.4 percent in June and July, following a 3.1-percent gain in April and May. The biggest factor in the current increase was higher gasoline costs which advanced 12.9 percent during the period. The average price for a gallon of gasoline in the Dallas-Fort Worth area stood at $2.392 in July. Higher prices were also noted for new vehicles and used cars and trucks. Despite sharp gains earlier in the year, gasoline prices were 39.7 percent below a year ago and were the biggest factor in the 14.4-percent annual decline in total transportation costs. Smaller increases were registered in four categories during June and July. The housing index edged up 0.2 percent, primarily reflecting higher costs for fuels and utilities. Prices for utility (piped) gas service rose sharply, registering an 18.8-percent increase during the two-month period, while charges for electricity increased 0.5 percent. In contrast, shelter costs were essentially unchanged in June and July, edging up 0.1 percent, and prices for household furnishings and operations fell 0.7 percent. On an annual basis, a 48.1-percent drop in natural gas prices, coupled with a 16.8-percent decrease in electricity charges, helped push the total fuels and utilities index down 17.1 percent. Prices for household furnishings and operations dipped 0.1 percent over the year, but shelter costs rose 2.2 percent. Combined, these annual movements left the total housing index 1.6 percent below a year ago. The food and beverages index increased 0.5 percent in June and July, following a 0.9-percent decline in the previous two-month period. Prices rose for both food at home (0.6 percent) and food away from home (0.5 percent), while costs for alcoholic beverages were unchanged. Over the year, food at home (grocery) prices fell 1.6 percent, but increases for alcoholic beverages (5.3 percent) and food away from home (4.4 percent) left total food and beverage costs 1.4 percent above a year ago. The index for other goods and services, a category comprised of tobacco and smoking products, as well as various personal care products and services, advanced 1.9 percent between May and July. Due in part to previous bimonthly gains related to higher taxes on tobacco products, this index rose 7.5 percent over the year, the largest annual gain among the major categories. The medical care index increased 0.2 percent in June and July with higher prices noted for hospital services. During the year ended in July 2009 medical care costs rose 4.5 percent. Partially offsetting some of the other bimonthly increases, the apparel category registered a decline of 4.6 percent in June and July, following a drop of 8.8 percent in April and May. Price declines were broad- based during the current period and included women’s dresses, women's suits and separates, men's apparel, infants' and toddlers' clothing, and footwear. During the year ended in July 2009, total apparel prices fell 8.5 percent. Two categories registered no price change in June and July. Recreation costs were unchanged during the bimonthly period and up 2.4 percent over the year. Similarly, the index for education and communication was unchanged in the latest two-month period and 1.9 percent higher than a year ago. The CPI-U for the Dallas-Fort Worth area stood at 200.663 on the 1982-84=100 reference base, meaning that a market basket of goods and services which averaged $100.00 in 1982-84 would have cost local consumers $200.66 in July 2009. The Dallas-Fort Worth, Texas, Consolidated Metropolitan Area (CMSA) includes Collin, Dallas, Denton, Ellis, Henderson, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, and Tarrant Counties. Local area CPI indexes are by-products of the national CPI program. Because each local area index is a small subset of the national index, the sample size is smaller and therefore 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. Next Release Date: The Dallas-Fort Worth August CPI for Energy, Food At Home, and Shelter will be released on September 16, 2009.
Last Modified Date: August 14, 2009
