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Midwest CPI climbs on energy costs

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On increased energy costs, the Midwest Consumer Price Index rose 1.4 percent to 229.71 in May compared with the same month a year earlier.

The CPI – which reflects price changes in 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 $229.71 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas, according to U.S. Bureau of Labor Statistics.

The overall energy index was up 4.1 percent last month compared with May 2016. Within the index, piped utility gas service costs rose 15.4 percent, while gas prices moved up 2.4 percent and electricity rose 1.3 percent, according to a news release.

Food prices ticked up 0.4 percent, led by a 1.4 percent increase in prices for meals away from home. Prices for food at home were down 0.2 percent, as the data set has declined every month since October 2015.

The index for all other items grew by 1.4 percent, largely due to a 2.8 percent increase in shelter costs, according to the release.

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