HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » BLS Report: CPI for all i...

Wed Jun 12, 2019, 09:41 AM

BLS Report: CPI for all items rises 0.1% in May as shelter, food indexes increase

Economic News Release USDL-19-0947

Consumer Price Index Summary

Transmission of material in this release is embargoed until 8:30 a.m. (EDT) June 12, 2019

Technical information: (202) 691-7000 cpi_info@bls.gov www.bls.gov/cpi
Media Contact: (202) 691-5902 PressOffice@bls.gov

CONSUMER PRICE INDEX MAY 2019

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.8 percent before seasonal adjustment.

The food index rose 0.3 percent in May after declining in April, with the food index accounting for nearly half of the May seasonally adjusted all items monthly increase. The energy index fell 0.6 percent in May, with the gasoline index falling 0.5 percent and the indexes for electricity and natural gas also declining in May.

The index for all items less food and energy increased 0.1 percent for the fourth consecutive month. The indexes for shelter, medical care, airline fares, education, household furnishings and operations, and new vehicles all rose in May. The indexes for used cars and trucks, recreation, and motor vehicle insurance were among those that declined over the month.

The all items index increased 1.8 percent for the 12 months ending May. The index for all items less food and energy rose 2.0 percent over the last 12 months, and the food index also rose 2.0 percent. The energy index decreased 0.5 percent over the past year.
....

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.8 percent over the last 12 months to an index level of 256.092 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.7 percent over the last 12 months to an index level of 249.871 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.7 percent over the last 12 months. For the month, the index increased 0.2 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

_______________
The Consumer Price Index for June 2019 is scheduled to be released on Thursday, July 11, 2019 at 8:30 a.m. (EDT).

* * * * *

[center]Facilities for Sensory Impaired[/center]

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

3 replies, 244 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 3 replies Author Time Post
Reply BLS Report: CPI for all items rises 0.1% in May as shelter, food indexes increase (Original post)
mahatmakanejeeves Jun 12 OP
Wellstone ruled Jun 12 #1
mahatmakanejeeves Jun 12 #2
Farmer-Rick Jun 13 #3

Response to mahatmakanejeeves (Original post)

Wed Jun 12, 2019, 11:41 AM

1. Thanks for the update.

Interesting Inflation trend. Happened to be in a Major Retailer yesterday. New pricing on all Paper Products. The Stock Crew were price changing during prime shopping hours,so someone is worried. Looked like about 5%price increases.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to mahatmakanejeeves (Original post)

Wed Jun 12, 2019, 03:18 PM

2. More on the CPI:

Set the WABAC Machine for a year ago:

BLS Report: CPI-U for all items rises 0.1% in June as shelter, gasoline, food indexes increase

From CPI for all items falls 0.1% in December as energy and food indexes decline:

Not all CPI's are alike. For an earlier discussion at DU about that, see:

CPI for all items rises 0.2% as gasoline and shelter prices rise; food prices decline

From the zeroeth post:

I added the bolding.

Cryptoad points out the significance of the CPI-W. It is used to calculate Social Security's Cost-of-Living Adjustment (COLA):

Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2013 through the third quarter of 2014, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.7 percent COLA for 2015.

Consumer Price Index Frequently Asked Questions (FAQs)

What goods and services does the CPI cover?

The CPI represents all goods and services purchased for consumption by the reference population (U or W) BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each are as follows:
FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)
HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
APPAREL (men's shirts and sweaters, women's dresses, jewelry)
TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);
EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).

The CPI-U is used by the Treasury Department to set the interest rates on I Bonds.

I Savings Bonds

How do I Bonds earn interest?

Interest on an I Bond rates is a combination of two rates:
1.A fixed rate of return which remains the same throughout the life of the I Bond

and
2.A variable inflation rate which we calculate twice a year, based on changes in the nonseasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy (CPI-U for March compared with the CPI-U for September of the same year, and then CPI-U for September compared with the CPI-U for March of the following year).

In specific, there is a discussion of the Cost of Living Index here:

Let's look at that.

The CPI-W is discussed here:

CPI-W methodology

- - - - -

Note that there is a:

Consumer Price Index for All Urban Consumers (CPI-U)

Chained Consumer Price Index for All Urban Consumers (C-CPI-U)

Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)

The fine print goes into the distinction.

Here's the thread from three months ago about the March CPI:

CPI for all items rises 0.2% as gasoline and shelter prices rise; food prices decline

Cryptoad points out the significance of the CPI-W. It is used to calculate Social Security's Cost-of-Living Adjustment (COLA):

Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2013 through the third quarter of 2014, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 1.7 percent COLA for 2015.

Consumer Price Index Frequently Asked Questions (FAQs)

What goods and services does the CPI cover?

The CPI represents all goods and services purchased for consumption by the reference population (U or W) BLS has classified all expenditure items into more than 200 categories, arranged into eight major groups. Major groups and examples of categories in each are as follows:
FOOD AND BEVERAGES (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks)
HOUSING (rent of primary residence, owners' equivalent rent, fuel oil, bedroom furniture)
APPAREL (men's shirts and sweaters, women's dresses, jewelry)
TRANSPORTATION (new vehicles, airline fares, gasoline, motor vehicle insurance)
MEDICAL CARE (prescription drugs and medical supplies, physicians' services, eyeglasses and eye care, hospital services)
RECREATION (televisions, toys, pets and pet products, sports equipment, admissions);
EDUCATION AND COMMUNICATION (college tuition, postage, telephone services, computer software and accessories);
OTHER GOODS AND SERVICES (tobacco and smoking products, haircuts and other personal services, funeral expenses).

The CPI-U is used by the Treasury Department to set the interest rates on I Bonds.

I Savings Bonds

How do I Bonds earn interest?

Interest on an I Bond rates is a combination of two rates:
1.A fixed rate of return which remains the same throughout the life of the I Bond

and
2.A variable inflation rate which we calculate twice a year, based on changes in the nonseasonally adjusted Consumer Price Index for all Urban Consumers (CPI-U) for all items, including food and energy (CPI-U for March compared with the CPI-U for September of the same year, and then CPI-U for September compared with the CPI-U for March of the following year).

Reply to this post

Back to top Alert abuse Link here Permalink


Response to mahatmakanejeeves (Original post)

Thu Jun 13, 2019, 08:53 AM

3. And from Shadow statistics

May 2019 CPI and PPI Both Were Depressed by Unstable, Negative Seasonal Adjustments to Volatile Gasoline Prices

Monthly CPI Rose 0.08% in May, versus 0.32% in April, with Unadjusted Annual Inflation at 1.79% versus 2.00%

Real Earnings Are on Track for a 2q2019 Quarterly Contraction

May PPI Rose 0.08% Month-to-Month, versus 0.17% in April, with Annual Inflation at 1.81% versus 2.16%

New Recession Continues to Roll Out / May 2019 Monthly Payrolls Were Unchanged at Zero Gain, Net of Revisions

Headline Growth of 75,000 Jobs Resulted from a Downside Revision of 75,000 (-75,000) to April Jobs

Full-Time Employment Dropped for Third Straight Month, with Annual Growth of 0.9% the Weakest Since October 2013

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread