The Midwest Consumer Price Index was relatively mixed in September.
Consumer prices in the area were flat from August but up 1.6 percent compared to September 2013. The CPI for the region, which comprises Missouri and 11 other states, was 226.91 last month, about even from 226.59 in August, according to a news release from the U.S. Bureau of Labor Statistics. The Midwest CPI was 223.25 in
September 2013.
The CPI – which shows 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 $226.91 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas.
During September, the energy index had the largest downward pull on the Midwest CPI, with costs falling 1 percent and representing the third consecutive monthly decline. Within the index, electricity prices dropped 1.6 percent, motor fuel prices decreased 0.6 percent and piped utility gas prices fell 1.5 percent. The energy index advanced 0.2 percent year to year, according to the release.
Food prices in the Midwest registered a 0.5 percent increase in September, with costs for food away from home rising 0.6 percent and food at home increasing 0.4 percent. Compared to September 2013, the food index jumped 3.6 percent to 238.16.
The index for all other items increased by 0.2 percent in September compared to August. Included in the index was a 3.6 percent increase in apparel prices and 0.2 percent rise in shelter costs. In contrast, used car and truck prices dropped 1.6 percent. From September 2013 to last month, the index increased 1.5 percent, according to the release.[[In-content Ad]]
