Midwest CPI marked by offsetting movements

The Midwest Consumer Price Index registered little change in April due to offsetting movements.

The region’s CPI increased 0.1 percent from March to land at 223.8 in April, according to a U.S. Bureau of Labor Statistics news release.

The CPI – which reflects price changes for energy, food and all other items – is measured in comparison to a base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $223.80 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas, according to the BLS.

While the energy index dropped by 1.1 percent in April, the indexes for food and all other items each increased by 0.2 percent, largely offsetting the decrease, according to the release.

Within the energy index, piped utility gas service costs fell 7.9 percent, while motor fuel prices climbed 0.5 percent and electricity prices were unchanged.

Food prices were marked by a 0.1 percent bump in food at home and 0.4 percent increase in food away from home, according to the release.

The BLS also reports increases in used cars and truck sales, at 2 percent, and medical care services, 0.9 percent.

Compared to April 2014, the latest Midwest CPI was down 1.1 percent, according to the release.[[In-content Ad]]