During January, the Midwest Consumer Price Index advanced 0.5 percent on a monthly basis and 1.4 percent from the same month of 2012.
The figure increased to 222.25 last month, according to a U.S. Bureau of Labor Statistics news release.
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 $222.25 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.
Energy costs had the most sway on the Midwest CPI movement, both on a monthly and yearly basis.
The energy index rose 3.4 percent in January from December, ending six months of decreases. This was largely due to a 3.8 percent increase in motor fuel prices, according to the release.
Compared to the same month last year, January energy prices rose 2.5 percent on a 2 percent increase in motor fuel prices and 4.5 percent bump in piped utility gas costs.
Food prices rose 0.5 percent in January compared to December. Within the index, the cost for food at home increased 0.9 percent, while costs for food away from home were unchanged, the release said.
Year to year, the food index increased 1.1 percent last month, driven the most by 1.6 percent jump in the costs for food away from home.
The index for all other items was virtually unchanged in January on a month-to-month basis, but recorded a 1.3 percent increase from January 2013. Contributing to the year-to-year climb was a 2 percent increase in shelter costs and 2.6 percent advance in medical care costs, according to the BLS.[[In-content Ad]]
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