The Midwest Consumer Price Index rose 0.9 percent in March to 225.49, compared to 223.49 in February, according to U.S. Bureau of Labor Statistics data.
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 $225.49 last month. The index is not seasonally adjusted, and items are weighted based on their spending significance in certain areas. The Midwest region comprises 12 states, including Missouri, Iowa and Kansas.
The Midwest energy index rose 6 percent in March, largely due to a 7.8 percent increase in motor fuel prices and a 15.3 percent jump in piped utility gas service costs - the largest one-month gain for the subset since March 2003. Electricity prices inched up 0.2 percent in March, according to a news release.
Food prices in the Midwest rose 0.4 percent March, led by a 0.3 percent increase in costs for food away from home and a 0.5 percent bump in costs for food at home.
The index for all other items increased 0.3 percent in March. Registering month-to-month increases were apparel, at 2.5 percent, medical care, at 0.5 percent, and shelter, at 0.2 percent.
During March, the Midwest CPI was up 1.5 percent compared to the same month a year earlier, led by a 1.8 percent boost in food prices and a 2.3 percent jump in the energy index, according to the release.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.