Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Consumer Price Index, Boston-Cambridge-Newton — May 2021

06/11/2021 | 03:29pm EDT

News Release Information

21-1104-BOS
Friday, June 11, 2021

Area prices up 0.8 percent over two months; up 3.2 percent from a year ago

Prices in the Boston area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 0.8 percent for the two months ending in May 2021, the U.S. Bureau of Labor Statistics reported today. (See table.) Regional Commissioner William J. Sibley noted that the May increase was influenced by higher prices for all items less food and energy. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 3.2 percent. This was the largest advance since November 2018. (See chart 1 and table.) The index for all items less food and energy rose 2.3 percent over the year. Energy prices jumped 23.4 percent, largely the result of an increase in the price of gasoline. Food prices rose 1.2 percent. (See table.)

Food

Food prices advanced 0.9 percent for the two months ending in May. (See table.) Prices for food at home rose 1.0 percent, and prices for food away from home rose 0.9 percent for the same period.

Over the year, food prices rose 1.2 percent. Prices for food away from home advanced 6.6 percent. Partially offsetting this advance were lower food at home prices, which decreased 2.4 percent since a year ago.

Energy

The energy index decreased 2.0 percent for the two months ending in May. The decrease was mainly due to lower prices for natural gas service (-20.3 percent) as suppliers switched to summer schedules. Prices for gasoline rose 5.5 percent, while prices for electricity decreased 2.6 percent for the same period.

Energy prices jumped 23.4 percent over the year, largely due to higher prices for gasoline (44.8 percent). Prices paid for natural gas service jumped 13.6 percent, and prices for electricity rose 3.6 percent during the past year.

All items less food and energy

The index for all items less food and energy rose 1.0 percent in the latest two-month period. Higher prices for new and used motor vehicles (7.9 percent); shelter (0.7 percent); and recreation (1.4 percent) were partially offset by lower prices for household furnishings and operations (-1.3 percent) and education and communication (-0.4 percent).

Over the year, the index for all items less food and energy rose 2.3 percent. Components contributing to the increase included new and used motor vehicles (14.8 percent); shelter (1.5 percent); and household furnishings and operations (3.1 percent). Partly offsetting the increases was a price decrease in recreation (-5.3 percent).

CPI-W

In May, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 290.685. The CPI-W increased 0.7 percent over two months and increased 3.6 percent over the year.

The July 2021 Consumer Price Index for Boston-Cambridge-Newton area is scheduled to be released on Wednesday, August 11, 2021, at 8:30 a.m. (ET).

Coronavirus (COVID-19) Pandemic Impact on May 2021 Consumer Price Index Data

Data collection by personal visit for the Consumer Price Index (CPI) program has been suspended since March 16, 2020. When possible, data normally collected by personal visit were collected either online or by phone. Additionally, data collection in May was affected by the temporary closing or limited operations of certain types of establishments. These factors resulted in an increase in the number of prices considered temporarily unavailable and imputed.

While the CPI program attempted to collect as much data as possible, many indexes are based on smaller amounts of collected prices than usual, and a small number of indexes that are normally published were not published this month. Additional information is available atwww.bls.gov/covid19/effects-of-covid-19-pandemic-on-consumer-price-index.htm


Technical Note

The Consumer Price Index (CPI) is a measures 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 93 percent of the total U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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 75 urban areas across the country from about 6,000 housing units and approximately 22,000 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi /.

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 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 cities; they only measure the average change in prices for each area since the base period.

The Boston-Cambridge-Newton, Mass.-N.H. Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts; Rockingham, Strafford Counties in New Hampshire.

Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.

Expenditure category Indexes Percent change from
Historical
data
Mar.
2021
Apr.
2021
May
2021
May
2020
Mar.
2021
Apr.
2021

All items

289.240 291.667 3.2 0.8

All items (1967 = 100)

840.685 847.738

Food and beverages

286.713 289.240 1.4 0.9

Food

288.899 291.594 1.2 0.9

Food at home

263.208 259.887 265.725 -2.4 1.0 2.2

Cereal and bakery products

303.975 319.379 -4.2 5.1

Meats, poultry, fish, and eggs

282.857 283.348 -0.7 0.2

Dairy and related products

288.382 290.198 -2.4 0.6

Fruits and vegetables

343.859 347.441 -1.2 1.0

Nonalcoholic beverages and beverage materials

170.693 168.617 3.3 -1.2

Other food at home

201.881 202.702 -6.1 0.4

Food away from home

334.016 337.021 6.6 0.9

Alcoholic beverages

266.886 267.683 4.3 0.3

Housing

304.561 304.058 2.4 -0.2

Shelter

360.418 363.031 362.801 1.5 0.7 -0.1

Rent of primary residence

375.726 375.556 375.599 1.5 0.0 0.0

Owners' equivalent rent of residences

388.654 390.279 390.503 1.7 0.5 0.1

Owners' equivalent rent of primary residence

388.654 390.279 390.503 1.7 0.5 0.1

Fuels and utilities

314.526 294.889 10.8 -6.2

Household energy

263.506 266.061 244.715 11.0 -7.1 -8.0

Energy services

281.648 285.055 257.078 6.4 -8.7 -9.8

Electricity

315.096 320.925 306.803 3.6 -2.6 -4.4

Utility (piped) gas service

214.344 214.339 170.924 13.6 -20.3 -20.3

Household furnishings and operations

133.185 131.507 3.1 -1.3

Apparel

127.278 128.455 4.9 0.9

Transportation

194.353 206.781 17.4 6.4

Private transportation

201.763 211.085 18.3 4.6

New and used motor vehicles

112.018 120.889 14.8 7.9

New Vehicles

213.293 211.375 -5.5 -0.9

Used cars and trucks

353.745 412.651 31.0 16.7

Motor fuel

238.316 243.287 251.448 44.4 5.5 3.4

Gasoline (all types)

235.775 240.753 248.840 44.8 5.5 3.4

Gasoline, unleaded regular

228.954 233.961 241.364 47.2 5.4 3.2

Gasoline, unleaded midgrade

247.415 256.683 267.241 33.1 8.0 4.1

Gasoline, unleaded premium

246.394 249.656 261.125 30.9 6.0 4.6

Motor vehicle insurance

Medical care

697.383 698.880 0.1 0.2

Recreation

115.031 116.623 -5.3 1.4

Education and communication

174.023 173.280 1.4 -0.4

Tuition, other fees, and child care

1,422.544 1,424.214 1.9 0.1

Other goods and services

522.085 522.728 1.7 0.1

Commodity and service group

Commodities

198.613 202.069 6.1 1.7

Commodities less food and beverages

153.780 157.457 9.9 2.4

Nondurables less food and beverages

194.499 198.430 11.8 2.0

Durables

113.445 116.681 7.6 2.9

Services

370.922 372.461 1.9 0.4

Special aggregate indexes

All items less shelter

263.333 265.827 4.3 0.9

All items less medical care

273.706 276.152 3.5 0.9

Commodities less food

158.251 161.844 9.6 2.3

Nondurables

239.316 242.577 5.6 1.4

Nondurables less food

198.855 202.531 11.0 1.8

Services less rent of shelter

399.915 400.335 2.3 0.1

Services less medical care services

347.119 348.836 2.1 0.5

Energy

250.570 254.126 245.456 23.4 -2.0 -3.4

All items less energy

297.059 300.114 2.1 1.0

All items less food and energy

299.469 302.595 2.3 1.0

Note: Index applies to a month as a whole, not to any specific date.

Disclaimer

BLS - U.S. Bureau of Labor Statistics published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 19:28:02 UTC.


ę Publicnow 2021
Latest news "Economy & Forex"
06:52aAer Lingus in talks for hundreds of millions of euros in extra liquidity
RE
06:49aReality check for Volkswagen in China after sluggish start for electric car series
RE
06:46aEven after Biden tax hike, U.S. firms would pay less than foreign rivals
RE
06:46aHow Reuters compared U.S. corporations' taxes with their foreign rivals
RE
06:45aU.S. lawmakers likely to press Powell on Fed's 'hawkish' turn
RE
06:43aS.Africa's Omnia posts surge in FY earnings, reinstates dividend
RE
06:43aGermany must confront China on human rights despite trade, says industry
RE
06:40aChina, allies seek probe into indigenous children's remains in Canada
RE
06:38aEXCLUSIVE : G20 to endorse deal on global minimum corporate tax - draft
RE
06:35aDollar catches breath ahead of Fed testimony, cryptocurrencies attempt recovery
RE
Latest news "Economy & Forex"