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Thursday, August 14, 2008
NEW YORK-NORTHERN NEW JERSEY CPI UP 0.7 PERCENT IN JULY,
5.1 PERCENT RISE FROM YEAR AGO
Retail prices in the greater New York area, as measured by the
Consumer Price Index for All Urban Consumers (CPI-U), rose 0.7
percent in July, following increases of 1.0 percent in both May and
June. Michael L. Dolfman, Regional Commissioner of the U. S.
Department of Labor's Bureau of Labor Statistics, said the July rise
primarily reflected an advance in the housing index. Higher prices
for food and beverages and for transportation also contributed to the
July increase. For the year ended in July 2008, the CPI-U increased
5.1 percent, and core inflation, as measured by the all items less
food and energy index, was 2.4 percent.
The index for housing increased 1.0 percent in July, after rising
1.5 percent in June. (See chart A.) The shelter component rose 0.7
percent, primarily reflecting an increase in out-of-town lodging,
often up at this time of year. Over the month, residential rent
climbed 0.9 percent, the largest increase in 29 months, while owners'
equivalent rent edged up 0.2 percent. In the fuels and utilities
component, prices for household energy rose 3.8 percent after jumping
10.8 percent in June. A 4.3-percent increase in electricity charges
along with a 5.1-percent advance in natural gas prices contributed to
the July rise. Since July 2007, household energy prices have risen
22.5 percent.
The food and beverages index advanced 0.7 percent in July. Prices
for food at home rose 0.8 percent, reflecting higher prices for a
wide range of groceries, including other meats; fresh fish and
seafood; potatoes; milk; apples; snacks; cakes, cupcakes, and
cookies; other bakery products; and cheese and related products.
Over the year, grocery prices increased 7.3 percent, the largest 12-
month increase since October 1990. Prices for food away from home
rose 0.6 percent in July and 4.1 percent over the year.
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
September 0.3 3.3 0.1 3.2 0.8 4.8 -0.5 3.3 0.0 2.4
October 0.2 3.3 0.7 3.7 0.4 4.5 -0.5 2.4 0.1 3.1
November -0.3 3.1 0.0 3.9 -0.6 3.9 -0.4 2.6 0.4 3.9
December -0.1 3.2 -0.2 3.8 -0.5 3.6 0.2 3.3 0.0 3.7
Transportation prices rose 0.4 percent over the month, the
smallest increase since February. The slowdown in the transportation
index was largely due to a 1.2-percent increase in gasoline prices,
which had increased by between 4 and 13 percent in each of the
previous four months. The July index also reflected higher prices
for leased cars and trucks, as well as for car and truck rental.
Over the year, transportation prices increased 12.5 percent, the
largest 12-month advance since September 2005.
Among other expenditure categories, the other goods and services
index increased 0.9 percent, and the education and communication
index rose 0.6 percent, with higher charges for local telephone
service. The medical care index increased 0.3 percent. In contrast,
the index for apparel, often down in July, fell 0.6 percent, and the
recreation index dropped 0.3 percent with price reductions for
televisions.
With the New York-Northern New Jersey Consumer Price Index for All
Urban Consumers at 240.273 in July (1982-84=100), $24.03 was required
to purchase what $10 could in the 1982-84 base period. The
purchasing power of the dollar was 41.6 cents in 1982-84 dollars and
14.4 cents in 1967 dollars. In July, the Consumer Price Index for
Urban Wage Earners and Clerical Workers (CPI-W) was 235.446, up 0.7
percent over the month. The CPI-W rose 5.9 percent over the year.
On a 1967 base, the July CPI-W was 670.374.
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 - 7342 Labor - New York
08/13/08
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
May June July July May June
2008 2008 2008 2007 2008 2008
Expenditure category
All items.................................... 236.151 238.580 240.273 5.1 1.7 0.7
All items (1967=100)......................... 682.680 689.702 694.595 - - -
Food and beverages ......................... 221.159 221.658 223.278 5.7 1.0 .7
Food....................................... 220.416 220.934 222.523 5.8 1.0 .7
Food at home.............................. 220.396 221.524 223.293 7.3 1.3 .8
Food away from home....................... 226.328 226.122 227.536 4.1 .5 .6
Alcoholic beverages........................ 228.074 228.273 230.313 3.7 1.0 .9
Housing..................................... 253.161 257.051 259.706 4.0 2.6 1.0
Shelter........... ........................ 303.001 304.891 307.161 2.4 1.4 .7
Rent of primary residence 1/.............. 292.639 294.696 297.326 5.6 1.6 .9
Owners'equivalent rent of primary
residence 1/ 2/ ...................... 310.265 312.623 313.335 3.7 1.0 .2
Fuels and utilities. ...................... 207.321 227.924 236.499 20.9 14.1 3.8
Household energy ......................... 210.660 233.487 242.451 22.5 15.1 3.8
Gas (piped) and electricity 1/........... 194.648 214.201 223.953 13.0 15.1 4.6
Electricity 1/......................... 171.415 197.607 206.046 9.6 20.2 4.3
Utility (piped) gas service 1/.......... 240.687 243.987 256.392 17.7 6.5 5.1
Household furnishings and operations ...... 128.486 127.815 127.691 -2.1 -.6 -.1
Apparel..................................... 112.882 107.067 106.470 .7 -5.7 -.6
Transportation.............................. 211.635 217.187 218.149 12.5 3.1 .4
Private transportation..................... 202.221 207.008 208.336 12.9 3.0 0.6
Motor fuel....... ........................ 294.561 315.400 319.030 37.4 8.3 1.2
Gasoline (all types)..................... 292.904 313.724 317.421 37.2 8.4 1.2
Gasoline, unleaded regular 3/........... 298.627 319.984 323.309 38.1 8.3 1.0
Gasoline, unleaded midgrade 3/ 4/....... 288.883 309.132 314.032 36.1 8.7 1.6
Gasoline, unleaded premium 3/ .......... 284.199 304.244 308.351 34.6 8.5 1.3
Medical care................................ 369.871 368.419 369.528 2.1 -.1 .3
Recreation 5/................................ 115.043 115.674 115.350 1.0 .3 -.3
Education and communication 5/.............. 128.332 128.943 129.762 4.2 1.1 .6
Other goods and services.................... 343.477 349.941 352.966 4.7 2.8 .9
Commodity and service group
All items.................................... 236.151 238.580 240.273 5.1 1.7 .7
Commodities........ ........................ 183.881 185.345 186.181 7.8 1.3 .5
Commodities less food and beverages........ 156.802 158.661 159.077 9.2 1.5 .3
Nondurables less food and beverages....... 195.282 198.938 200.119 16.1 2.5 .6
Durables.................................. 107.527 107.284 106.819 -2.8 -.7 -.4
Services.................................... 281.010 284.256 286.672 3.7 2.0 .8
Special aggregate indexes
All items less medical care.................. 230.053 232.589 234.288 5.3 1.8 .7
All items less shelter....................... 210.162 212.859 214.322 6.8 2.0 .7
Commodities less food........................ 159.952 161.774 162.241 9.0 1.4 .3
Nondurables......... ........................ 210.771 212.970 214.380 10.6 1.7 .7
Nondurables less food........................ 197.699 201.185 202.415 15.2 2.4 .6
Services less rent of shelter 2/............. 266.407 271.532 274.238 5.5 2.9 1.0
Services less medical care services.......... 273.482 276.853 279.306 3.7 2.1 .9
Energy....................................... 246.402 268.490 275.268 29.1 11.7 2.5
All items less energy........................ 236.787 237.309 238.515 2.9 .7 .5
All items less food and energy.............. 241.256 241.782 242.923 2.4 .7 .5
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: August 15, 2008
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