Midwest CPI increases despite energy cost drop

Last edited 10:29 a.m., Jan. 20, 2014

The Midwest Consumer Price Index rose 1 percent in November, despite a 3.1 percent decrease in energy costs from the same month last year.

The CPI - which shows price changes for energy, food and all other items - is measured in comparison to a base period of 1982-84. 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 energy index drove the greatest downward pressure on the year-to-year CPI measurement. Down 5.7 percent, motor fuel prices led the decline in November. Piped utility gas service costs dropped 0.9 percent, while electricity prices advanced 0.8 percent, according to a news release from the U.S. Bureau of Labor Statistics.

The food index increased 1 percent in November compared to the same month of 2013. Within the index, costs for food away from home jumped 2.1 percent and costs for food at home contributed a 0.3 percent increase.

The index for all other items was up 1.6 percent last month. Though broad based, a 2.1 percent increase in shelter costs led the advance, the release said.

The Midwest CPI declined slightly on a month-to-month basis, dropping 0.2 percent from October.