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Midwest CPI holds steady in July

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The Midwest Consumer Price Index for all urban consumers held steady in July, increasing by 0.1 percent to 216.10, according to a news release from the U.S. Bureau of Labor Statistics.

The Midwest CPI also was flat in June at 215.95.

The BLS divides the CPI into three categories: food, energy and all other items, such as apparel, household furnishings, vehicles, recreation and shelter. It measures the average change in prices over time for goods and services such as food, clothing, shelter, fuels, transportation fares, health care and drugs. The CPI measures price changes from the base period of 1982–84, which represents an index score of 100.

During July, energy prices saw a decline of 0.6 percent, which offset a rise in price for the food index, 0.4 percent, and all other items, 0.1 percent. Energy costs were down for the second month in a row, due largely to a 1.9 percent drop in motor fuel prices. Before experiencing a price decline in June, motor fuel costs had increased in each of the previous nine months.

In other regions of the U.S. measured by the BLS, the West CPI was down 0.1 percent in July, while the Northwest and the South CPI was up 0.2 percent.

During the last year, the CPI for the Midwest region has risen 3.8 percent, with energy prices rising 19.3 percent, food prices rising 4 percent and all other items rising 1.8 percent, according to the release.[[In-content Ad]]

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