CONSUMER PRICE INDEX, MIDWEST REGION DECEMBER 2016

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1 For Release: Wednesday, January 18, KAN MOUNTAIN-PLAINS INFORMATION OFFICE: Kansas City, Mo. Technical information : Media contact : (816) BLSInfoKansasCity@bls.gov (816) BLSInfoKansasCity@bls.gov CONSUMER PRICE INDEX, MIDWEST REGION DECEMBER Prices in the Midwest little changed in December, but 1.8 percent higher over the year The Consumer Price Index for All Urban Consumers (CPI-U) in the Midwest was virtually unchanged, edging up 0.1 percent in December, the U.S. Bureau of Labor Statistics reported today. Movements within the index were mixed, with prices for motor fuel (6.0 percent) having the largest upward impact and costs for apparel (-4.3 percent) contributing the largest offsetting movement. The broader energy index was 2.7 percent higher over the month, but food prices were little changed (-0.1 percent). The index for all items less food and energy also changed little over the month, down 0.1 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.) The CPI-U for the Midwest rose 1.8 percent from December 2015 to December. (See chart 1 and table A.) Food prices decreased 0.4 percent, and the energy index, which includes motor fuel and household fuels, was up 8.1 percent. Excluding food and energy, the CPI-U advanced 1.7 percent over the year. (See table 1.) Chart 1. Over-the-year percent change in CPI-U, Midwest region, December 2013 December Percent change All items All items less food and energy -2.0 Dec Mar Jun Sep Dec '13 '14 Source: U.S. Bureau of Labor Statistics. Mar Jun Sep Dec '15 Mar Jun Sep Dec '16

2 Food Food prices in the Midwest were virtually unchanged, down 0.1 percent, in December. Prices for food at home declined 0.3 percent while costs for food away from home, up 0.1 percent, changed little over the month. The index for food decreased 0.4 percent in. Prices for food at home registered their fifteenth consecutive over-the-year decrease and ended the year 2.4 percent lower than in December Costs for food away from home were 2.5 percent higher over the year. Energy The energy index had the greatest upward impact on the all items index, turning up 2.7 percent in December following two consecutive monthly declines. Motor fuel prices led the rise with a 6.0-percent increase in December after leading the index downward in November with a decline of the same magnitude. Costs for electricity (-0.3 percent) and utility (piped) gas service (-0.2 percent) were lower over the month. Energy costs rose 8.1 percent from December 2015 to December and posted their first over-theyear increase since September Motor fuel prices also turned up after more than two years of annual declines and advanced 14.9 percent in. Costs for utility (piped) gas service contributed to the rise in energy costs with a gain of 8.9 percent, but electricity prices were unchanged over the year. All items less food and energy The index for all items less food and energy for the Midwest was little changed in December, down 0.1 percent, due to offsetting movements. Apparel prices reflected seasonal trends with a decrease of 4.3 percent in December after declining 1.9 percent in the prior month. Expenditure categories registering higher prices over the month included owners equivalent rent of residences (0.2 percent) and other goods and services (0.6 percent). The index for all items less food and energy was up 1.7 percent from December 2015 to December. A 2.9-percent rise in shelter costs led the advance. Prices for medical care, up 4.7 percent, had the next largest upward impact as prices for medical care services rose 4.8 percent and costs for medical care commodities increased 4.1 percent. Among the expenditure categories that ended with lower prices were new and used motor vehicles (-1.5 percent), apparel (-2.4 percent), household furnishings and operations (-1.6 percent) and education and communication (-0.2 percent). The Midwest Consumer Price Index for All Urban Consumers (CPI-U) stood at in December. A typical market basket of goods and services that cost $ in the base period cost $ in December

3 Table A. Midwest region CPI-U 1-month and 12-month percent changes, all items index, not seasonally adjusted Month month 12-month 1-month 12-month 1-month 12-month 1-month 12-month 1-month 12-month January February March April May June July August September October November December CPI-W In December, the Midwest Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI- W) was , up 0.2 percent over the month. The CPI-W increased 1.8 percent over the year. The January 2017 Consumer Price Index for the Midwest region is scheduled to be released on Wednesday, February 15, Technical Note The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) a CPI for All Urban Consumers (CPI-U) which covers approximately 89 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 28 percent of the total population. The CPI-U includes, in addition to wage earners and clerical workers, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force. The CPI is based on prices of food, clothing, shelter, and fuels, transportation fares, charges for doctors' and dentists' services, drugs, and the other goods and services that people buy for day-to-day living. Each month, prices are collected in 87 urban areas across the country from about 6,000 housing units and approximately 24,000 retail establishments department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. All taxes directly associated with the purchase and use of items are included in the index. The index measures price changes from a designated reference date ( ) that equals An increase of 16.5 percent, for example, is shown as This change can also be expressed in dollars as follows: the price of a base period "market basket" of goods and services in the CPI has risen from $10 in to $ For further details see the CPI home page on the Internet at and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at In calculating the index, price changes for the various items in each location are averaged together with weights that represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. Because the sample size of a local area is smaller, the local area index is 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 - 3 -

4 show greater volatility than the national index, although their long-term trends are quite similar. NOTE: Area indexes do not measure differences in the level of prices between areas; they only measure the average change in prices for each area since the base period. The Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) ; Federal Relay Service: (800)

5 Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods Midwest ( =100 unless otherwise noted) Indexes Percent change from Item and Group 2015 Expenditure category All items All items (December 1977=100) Food and beverages Food Food at home Food away from home Alcoholic beverages Housing Shelter Rent of primary residence Owners equivalent rent of residences Owners equivalent rent of primary residence Fuels and utilities Household energy Energy services Electricity Utility (piped) gas service Household furnishings and operations Apparel Transportation Private transportation New and used motor vehicles New vehicles New cars and trucks New cars Used cars and trucks Motor fuel Gasoline (all types) Gasoline, unleaded regular Gasoline, unleaded midgrade Gasoline, unleaded premium Medical care Medical care commodities Medical care services Professional services Recreation Education and communication Other goods and services Commodity and service group All items Commodities Commodities less food and beverages Nondurables less food and beverages Nondurables less food, beverages, and apparel Durables Services Rent of shelter Transportation services See footnotes at end of table

6 Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods-continued Midwest ( =100 unless otherwise noted) Indexes Percent change from Item and Group 2015 Commodity and service group Other services Special aggregate indexes All items less medical care All items less food All items less shelter Commodities less food Nondurables Nondurables less food Nondurables less food and apparel Services less rent of shelter Services less medical care services Energy All items less energy All items less food and energy Commodities less food and energy commodities Energy commodities Services less energy services 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. NOTE: Index applies to a month as a whole, not to any specific date. Regions defined as the four Census regions. Midwest includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin

7 Table 2. Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W): Indexes and percent changes for selected periods Midwest ( =100 unless otherwise noted) Indexes Percent change from Item and Group 2015 Expenditure category All items All items (December 1977=100) Food and beverages Food Food at home Food away from home Alcoholic beverages Housing Shelter Rent of primary residence Owners equivalent rent of residences Owners equivalent rent of primary residence Fuels and utilities Household energy Energy services Electricity Utility (piped) gas service Household furnishings and operations Apparel Transportation Private transportation New and used motor vehicles New vehicles Used cars and trucks Motor fuel Gasoline (all types) Gasoline, unleaded regular Gasoline, unleaded midgrade Gasoline, unleaded premium Medical care Medical care commodities Medical care services Professional services Recreation Education and communication Other goods and services Commodity and service group All items Commodities Commodities less food and beverages Nondurables less food and beverages Nondurables less food, beverages, and apparel Durables Services Rent of shelter Transportation services Other services Special aggregate indexes All items less medical care See footnotes at end of table

8 Table 2. Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W): Indexes and percent changes for selected periods-continued Midwest ( =100 unless otherwise noted) Indexes Percent change from Item and Group 2015 Special aggregate indexes All items less food All items less shelter Commodities less food Nondurables Nondurables less food Nondurables less food and apparel Services less rent of shelter Services less medical care services Energy All items less energy All items less food and energy Commodities less food and energy commodities Energy commodities Services less energy services 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 1984=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. NOTE: Index applies to a month as a whole, not to any specific date. Regions defined as the four Census regions. Midwest includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin