Midwest CPI rises slightly in September
Brief: Food costs drive up the index, while energy prices fall for a fourth consecutive month.
The Midwest Consumer Price Index for urban consumers moved by 0.2 percent to 216.97 in September. The figure has risen 3.9 percent in the last year, according to an Oct. 19 news release from the U.S. Bureau of Labor Statistics.
The CPI - which shows changes in the prices of energy, food and all other items - is measured in comparison to the base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $216.97 in September, not seasonally adjusted.
The September increase was led by a 0.6 percent increase in food prices and a 0.2 percent rise in all other items, with higher apparel prices at the top of the list, according to the release.
Energy prices, however, fell 0.6 percent due to a 0.9 percent decrease in motor fuel prices. Energy prices have decreased for four consecutive months.
Key factors in the 3.9 percent increase for the Midwest CPI in the last year are:
*an 18.8 percent increase in the energy index;
*a 5 percent increase in the food index; and
*a 1.9 percent increase in all other items, such as household furnishings, vehicles, recreation and shelter.
Price changes have varying weights depending on the importance of spending on index items in the corresponding population groups.
The Midwest region comprises Missouri, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
The Midwest Consumer Price Index for urban consumers moved by 0.2 percent to 216.97 in September. The figure has risen 3.9 percent in the last year, according to an Oct. 19 news release from the U.S. Bureau of Labor Statistics.
The CPI - which shows changes in the prices of energy, food and all other items - is measured in comparison to the base period of 1982-84. A typical market basket of goods and services that cost $100 in 1982-84 cost $216.97 in September, not seasonally adjusted.
The September increase was led by a 0.6 percent increase in food prices and a 0.2 percent rise in all other items, with higher apparel prices at the top of the list, according to the release.
Energy prices, however, fell 0.6 percent due to a 0.9 percent decrease in motor fuel prices. Energy prices have decreased for four consecutive months.
Key factors in the 3.9 percent increase for the Midwest CPI in the last year are:
- an 18.8 percent increase in the energy index;
- a 5 percent increase in the food index; and
- a 1.9 percent increase in all other items, such as household furnishings, vehicles, recreation and shelter.
Price changes have varying weights depending on the importance of spending on index items in the corresponding population groups.
The Midwest region comprises Missouri, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
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