CSA Canadian Securities Administrators : Consumer Price Index, Midwest Region – December 2019

Area prices were unchanged over the past month, up 2.3 percent from a year ago

Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were unchanged in December, the U.S. Bureau of Labor Statistics reported today. (See table A.) Food prices were little changed (0.1 percent), while prices for energy increased 0.4 percent. Prices for all items less food and energy were down a slight 0.1 percent. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

Over the last 12 months, the CPI-U advanced 2.3 percent. (See chart 1 and table A.) The index for all items less food and energy rose 2.0 percent over the year. Energy prices advanced 5.6 percent, largely the result of higher prices for gasoline. Food prices were up 1.9 percent. (See table 1.)

Food

Food prices crept up 0.1 percent for the month of December. (See table 1.) Prices for food at home were little changed (-0.1 percent), and prices for food away from home rose 0.3 percent for the same period.

Over the year, food prices advanced 1.9 percent. Prices for food at home rose 1.1 percent, and prices for food away from home were 2.8 percent higher than a year ago.

Energy

The energy index increased 0.4 percent over the month led by higher prices for gasoline (0.8 percent). Prices for natural gas service advanced 0.7 percent, but prices for electricity declined 0.6 percent.

Energy prices advanced 5.6 percent over the year, largely due to higher prices for gasoline (14.7 percent). Prices paid for electricity decreased 0.5 percent, and prices for natural gas service declined 8.1 percent over the past year.

All items less food and energy

The index for all items less food and energy crept down 0.1 percent in December. Lower prices for apparel (-4.0 percent) and medical care services (-0.5 percent) were partially offset by higher prices for shelter (0.4 percent) and new vehicles (0.7 percent).

Over the year, the index for all items less food and energy rose 2.0 percent. Components contributing to the increase included medical care services (5.1 percent) and shelter (3.2 percent).

CPI-W

In December, the Midwest Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) was 232.645. The CPI-W was unchanged in December, and advanced 2.5 percent over the year.

Month	2015		2016		2017		2018		2019
	1-month	12-month	1-month	12-month	1-month	12-month	1-month	12-month	1-month	12-month
January	-0.6	-0.3	0.3	0.8	0.7	2.2	0.6	1.6	0.2	0.8
February	0.3	-0.5	0.0	0.4	0.2	2.4	0.2	1.7	0.7	1.3
March	0.6	-0.9	0.6	0.5	0.1	1.9	0.2	1.8	0.6	1.7
April	0.1	-1.1	0.4	0.8	0.4	1.8	0.4	1.8	0.3	1.5
May	0.4	-0.8	0.4	0.8	0.0	1.4	0.5	2.3	0.3	1.3
June	0.5	-0.7	0.6	0.8	0.0	0.9	0.2	2.5	0.0	1.2
July	0.0	-0.5	-0.5	0.4	0.0	1.3	0.0	2.4	0.2	1.5
August	0.0	-0.3	0.1	0.6	0.3	1.5	0.0	2.1	0.0	1.5
September	-0.3	-0.8	0.2	1.1	0.3	1.5	0.1	1.9	0.0	1.4
October	-0.1	-0.3	-0.1	1.0	-0.2	1.5	0.1	2.2	0.2	1.5
November	-0.5	-0.2	-0.3	1.2	0.2	1.9	-0.6	1.4	-0.2	1.9
December	-0.6	0.0	0.1	1.8	-0.2	1.7	-0.4	1.3	0.0	2.3

The January 2020 Consumer Price Index for the Midwest Region is scheduled to be released on February 13, 2020.

Technical Note

The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) a CPI for All Urban Consumers (CPI-U) which covers approximately 93 percent of the total population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total population. The CPI-U includes, in addition to wage earners and clerical workers, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force.

The CPI is based on prices of food, clothing, shelter, and fuels, transportation fares, charges for doctors' and dentists' services, drugs, and the other goods and services that people buy for day-to-day living. Each month, prices are collected in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishments-department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. All taxes directly associated with the purchase and use of items are included in the index.

The index measures price changes from a designated reference date (1982-84) that equals 100.0. An increase of 16.5 percent, for example, is shown as 116.5. This change can also be expressed in dollars as follows: the price of a base period 'market basket' of goods and services in the CPI has risen from $10 in 1982-84 to $11.65. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the BLS Handbook of Methods, Chapter 17, The Consumer Price Index, available on the Internet at www.bls.gov/opub/hom/pdf/homch17.pdf.

In calculating the index, price changes for the various items in each location are averaged together with weights that represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. Because the sample size of a local area is smaller, the local area index is subject to substantially more sampling and other measurement error than the national index. In addition, local indexes are not adjusted for seasonal influences. As a result, local area indexes show greater volatility than the national index, although their long-term trends are quite similar. NOTE:Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: [phone]; Federal Relay Service: [phone].

Expenditure category	Indexes			Percent change from
	Oct. 2019	Nov. 2019	Dec. 2019	Dec. 2018	Oct. 2019	Nov. 2019
All items	239.243	238.850	238.734	2.3	-0.2	0.0
All items (December 1977 = 100)	389.262	388.623	388.433
Food and beverages	248.488	248.594	248.802	1.8	0.1	0.1
Food	247.914	248.037	248.223	1.9	0.1	0.1
Food at home	227.603	227.343	227.074	1.1	-0.2	-0.1
Cereals and bakery products	257.550	257.379	255.745	-0.2	-0.7	-0.6
Meats, poultry, fish, and eggs	247.329	247.506	250.039	3.5	1.1	1.0
Dairy and related products	197.387	199.956	200.690	4.6	1.7	0.4
Fruits and vegetables	269.741	267.102	266.927	-1.5	-1.0	-0.1
Nonalcoholic beverages and beverage materials	163.292	163.499	163.199	1.5	-0.1	-0.2
Other food at home	199.352	198.624	196.659	0.3	-1.4	-1.0
Food away from home	281.449	282.151	283.025	2.8	0.6	0.3
Alcoholic beverages	254.243	254.112	254.606	0.5	0.1	0.2
Housing	234.522	234.223	234.889	2.3	0.2	0.3
Shelter	281.992	281.961	283.184	3.2	0.4	0.4
Rent of primary residence	281.400	282.272	283.508	3.1	0.7	0.4
Owners' equivalent rent of residences	287.080	287.810	288.794	3.1	0.6	0.3
Owners' equivalent rent of primary residence	287.017	287.753	288.732	3.1	0.6	0.3
Fuels and utilities	219.584	218.851	218.912	-1.7	-0.3	0.0
Household energy	176.264	175.396	175.374	-2.8	-0.5	0.0
Energy services	182.938	181.746	181.397	-3.1	-0.8	-0.2
Electricity	201.494	197.018	195.839	-0.5	-2.8	-0.6
Utility (piped) gas service	141.429	145.580	146.584	-8.1	3.6	0.7
Household furnishings and operations	116.537	115.714	115.164	0.8	-1.2	-0.5
Apparel	120.115	116.404	111.711	-1.4	-7.0	-4.0
Transportation	202.633	201.087	200.968	3.1	-0.8	-0.1
Private transportation	197.746	196.275	196.613	3.2	-0.6	0.2
New and used motor vehicles	96.739	96.757	96.680	-0.8	-0.1	-0.1
New vehicles	135.844	137.122	138.099	1.0	1.7	0.7
New cars and trucks	96.048	96.939	97.634	1.0	1.7	0.7
New cars	132.311	133.498	134.600	0.6	1.7	0.8
Used cars and trucks	137.544	136.124	135.959	-0.6	-1.2	-0.1
Motor fuel	231.591	225.226	226.932	14.3	-2.0	0.8
Gasoline (all types)	230.121	223.631	225.330	14.7	-2.1	0.8
Gasoline, unleaded regular	223.747	217.335	219.041	15.0	-2.1	0.8
Gasoline, unleaded midgrade	268.140	261.727	262.622	15.0	-2.1	0.3
Gasoline, unleaded premium	256.188	249.865	251.566	11.2	-1.8	0.7
Motor vehicle insurance	743.115	740.197	738.741	0.0	-0.6	-0.2
Medical care	508.101	507.577	505.493	3.6	-0.5	-0.4
Medical care commodities	389.667	387.962	387.320	-2.0	-0.6	-0.2
Medical care services	547.856	547.734	545.161	5.1	-0.5	-0.5
Professional services	421.441	422.292	422.628	1.4	0.3	0.1
Recreation	121.512	122.834	123.028	2.0	1.2	0.2
Education and communication	137.766	138.572	138.550	0.8	0.6	0.0
Tuition, other school fees, and child care	1,206.345	1,203.735	1,198.388	0.1	-0.7	-0.4
Other goods and services	439.682	441.087	439.894	2.4	0.0	-0.3
Commodity and service group
Commodities	180.109	179.046	178.697	2.0	-0.8	-0.2
Commodities less food and beverages	147.244	145.789	145.246	2.2	-1.4	-0.4
Nondurables less food and beverages	196.026	192.755	191.477	3.9	-2.3	-0.7
Durables	101.160	101.082	101.094	0.0	-0.1	0.0
Services	300.279	300.597	300.727	2.4	0.1	0.0
Special aggregate indexes
All items less shelter	226.309	225.788	225.207	1.9	-0.5	-0.3
All items less medical care	226.514	226.127	226.104	2.1	-0.2	0.0
Commodities less food	150.562	149.133	148.614	2.1	-1.3	-0.3
Nondurables	221.902	220.187	219.594	2.8	-1.0	-0.3
Nondurables less food	199.097	196.005	194.827	3.7	-2.1	-0.6
Services less rent of shelter	329.041	329.750	328.666	1.6	-0.1	-0.3
Services less medical care services	281.810	282.161	282.494	2.0	0.2	0.1
Energy	201.417	197.989	198.773	5.6	-1.3	0.4
All items less energy	245.960	245.871	245.661	2.0	-0.1	-0.1
All items less food and energy	246.337	246.210	245.930	2.0	-0.2	-0.1
Note: Index applies to a month as a whole, not to any specific date.