News Release Information

    22-1500-ATL Wednesday, July 13, 2022

    Area prices up 10.6 percent over the past 12 months

    The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach rose 2.5 percent from April to June, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that the index for all items less food and energy increased 1.8 percent over the bi-monthly period. The energy index advanced 9.3 percent from April to June, while the food index rose 1.4 percent. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.)

    The all items CPI-U advanced 10.6 percent for the 12 months ending in June. The index for all items less food and energy rose 7.9 percent over the past 12 months, while the energy index jumped 50.5 percent. The food index increased 3.8 percent over the past year. (See chart 1 and table 1 .)

     

    Food

    The food index rose 1.4 percent from April to June, reflecting a 2.0-percent increase in the food at home index. The food away from home index was unchanged over the bi-monthly period.

    The food index increased 3.8 percent for the 12 months ending in June. The food at home and the food away from home indexes each increased over the past year, up 2.2 percent and 4.9 percent, respectively.

    Energy

    The energy index advanced 9.3 percent from April to June, reflecting a 15.2-percent increase in the gasoline index. The utility (piped) gas index edged up 0.4 percent over the bi-monthly period, while the electricity index was unchanged.   

    The energy index jumped 50.5 percent for the 12 months ending in June, primarily due to a 62.4-percent spike in the gasoline index. The electricity and the utility (piped) gas service indexes also increased over the past year, up 33.3 percent and 12.7 percent, respectively.

    All items less food and energy

    The index for all items less food and energy rose 1.8 percent from April to June, largely due to a 2.3-percent increase in the shelter index. The medical care index also increased over the bi-monthly period, up 3.3 percent.

    The index for all items less food and energy advanced 7.9 percent for the 12 months ending in June. Several indexes contributed to the increase over the past year, most notable, shelter (+9.9 percent)

    Table A. Miami-Fort Lauderdale-West Palm Beach, FL, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjusted Month 2018 2019 2020 2021 2022 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month 2-month 12-month

    February

    2.6 3.2 1.0 1.2 0.4 1.4 0.8 1.4 3.3 9.8

    April

    -0.1 3.5 0.8 2.2 -1.0 -0.5 1.6 4.1 1.5 9.6

    June

    0.5 4.2 -0.5 1.2 0.7 0.7 1.6 5.1 2.5 10.6

    August

    -0.3 3.6 0.4 1.9 1.0 1.4 0.2 4.2

    October

    0.8 3.4 0.4 1.5 0.1 1.0 1.5 5.7

    December

    -0.6 2.9 -0.2 2.0 -0.2 1.1 1.2 7.1

    The Consumer Price Index for July 2022 is scheduled to be released on Wednesday, August 10, 2022, at 8:30 a.m. (ET).

    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 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; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000.  Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the Internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi /.

    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 Miami-Fort Lauderdale-West Palm Beach, FL, Core Based Statistical Area covered in this release is comprised of Broward, Miami-Dade, and Palm Beach Counties in Florida.

    Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.

    Table 1. Consumer Price Index for All Urban Consumers (CPI-U): Indexes and percent changes for selected periods Miami-Fort Lauderdale-West Palm Beach, FL (1982-84=100 unless otherwise noted) Item and Group Indexes Percent change from- Apr. 2022 May 2022 Jun. 2022 Jun. 2021 Apr. 2022 May 2022

    Expenditure category

    All Items

    307.420 - 314.971 10.6 2.5 -

    All items (November 1977=100)

    495.518 - 507.689 - - -

    Food and beverages

    295.615 - 299.602 3.5 1.3 -

    Food

    302.019 - 306.109 3.8 1.4 -

    Food at home

    286.023 288.094 291.684 2.2 2.0 1.2

    Cereals and bakery products

    347.947 - 363.014 12.2 4.3 -

    Meats, poultry, fish, and eggs

    290.576 - 292.851 1.2 0.8 -

    Dairy and related products

    253.216 - 252.204 2.0 -0.4 -

    Fruits and vegetables

    327.448 - 331.520 - 1.2 -

    Nonalcoholic beverages and beverage materials ( 1 )

    276.646 - 275.433 -0.5 -0.4 -

    Other food at home

    234.426 - 245.183 - 4.6 -

    Food away from home

    328.818 - 328.851 4.9 0.0 -

    Alcoholic beverages

    221.027 - 223.763 -0.2 1.2 -

    Housing

    325.895 - 332.108 11.5 1.9 -

    Shelter

    368.897 372.903 377.298 9.9 2.3 1.2

    Rent of primary residence

    360.323 368.197 372.926 12.3 3.5 1.3

    Owners' equiv. rent of residences ( 2 )

    368.398 374.486 379.676 9.5 3.1 1.4

    Owners' equiv. rent of primary residence ( 2 )

    368.398 374.486 379.676 9.5 3.1 1.4

    Fuels and utilities

    232.363 - 232.930 25.4 0.2 -

    Household energy

    209.230 210.161 209.881 33.6 0.3 -0.1

    Energy services

    205.117 205.123 205.123 32.9 0.0 0.0

    Electricity

    201.386 201.386 201.379 33.3 0.0 0.0

    Utility (piped) gas service

    214.913 215.310 215.846 12.7 0.4 0.2

    Household furnishings and operations

    196.198 - 195.955 12.3 -0.1 -

    Apparel

    142.012 - 141.712 2.4 -0.2 -

    Transportation

    278.369 - 295.320 19.5 6.1 -

    Private transportation

    290.483 - 309.158 20.9 6.4 -

    New and used motor vehicles ( 3 )

    135.582 - 138.039 - 1.8 -

    New vehicles ( 1 )

    272.789 - 276.271 - 1.3 -

    Used cars and trucks ( 1 )

    436.019 - 449.528 6.7 3.1 -

    Motor fuel

    372.656 396.969 428.992 62.4 15.1 8.1

    Gasoline (all types)

    368.245 392.244 424.054 62.4 15.2 8.1

    Unleaded regular ( 4 )

    364.659 389.454 421.070 63.5 15.5 8.1

    Unleaded midgrade ( 4 )( 5 )

    357.963 375.365 405.132 57.4 13.2 7.9

    Unleaded premium ( 4 )

    381.400 397.965 430.065 53.8 12.8 8.1

    Medical Care

    594.318 - 614.000 6.0 3.3 -

    Recreation ( 3 )

    132.919 - 131.751 4.8 -0.9 -

    Education and communication ( 3 )

    127.551 - 125.699 0.6 -1.5 -

    Tuition, other school fees, and child care ( 1 )

    1,052.767 - 1,063.580 2.0 1.0 -

    Other goods and services

    411.482 - 419.125 13.9 1.9 -

    Commodity and service group

    All Items

    307.420 - 314.971 10.6 2.5 -

    Commodities

    243.427 - 251.319 13.7 3.2 -

    Commodities less food & beverages

    207.609 - 216.410 19.8 4.2 -

    Nondurables less food & beverages

    252.609 - 271.825 29.1 7.6 -

    Durables

    161.249 - 161.679 9.9 0.3 -

    Services

    357.160 - 364.557 9.2 2.1 -

    Special aggregate indexes

    All items less medical care

    295.161 - 302.214 11.0 2.4 -

    All items less shelter

    274.967 - 282.057 11.0 2.6 -

    Commodities less food

    208.776 - 217.476 19.1 4.2 -

    Nondurables

    278.235 - 290.814 15.5 4.5 -

    Nondurables less food

    250.942 - 269.334 27.4 7.3 -

    Services less rent of shelter ( 2 )

    349.240 - 355.298 7.9 1.7 -

    Services less medical care services

    338.231 - 344.544 9.3 1.9 -

    Energy

    282.709 294.347 308.871 50.5 9.3 4.9

    All items less energy

    310.102 - 315.529 7.4 1.8 -

    All items less food and energy

    311.671 - 317.293 7.9 1.8 -

    Footnotes (1) Index is on a November 1977=100 base. (2) Index is on a November 1982=100 base. (3) Indexes on a December 1997=100 base. (4) Special index based on a substantially smaller sample. (5) Indexes on a December 1993=100 base.

    - Data not available. NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

    Last Modified Date: Wednesday, July 13, 2022

    What is the inflation rate in Miami?
    The index for all items less food and energy rose 1.8 percent from April to June, largely due to a 2.3-percent increase in the shelter index.Consumer Price Index, Miami-Fort Lauderdale-West Palm Beach — June 2022. more
    Is base rate and repo rate same?
    Simply put, repo rate is the rate at which the RBI lends to commercial banks by purchasing securities while bank rate is the lending rate at which commercial banks can borrow from the RBI without providing any security. more
    What happens to the birth rate death rate and growth rate for each of the demographic transitions?
    The Demographic Transition This process tends to occur in three stages. First, birth and death rates are both high, so little growth occurs. Second, death rates fall due to improved living conditions, while birth rates remain high. During this period population grows rapidly. more
    What is bank rate vs repo rate?
    Simply put, repo rate is the rate at which the RBI lends to commercial banks by purchasing securities while bank rate is the lending rate at which commercial banks can borrow from the RBI without providing any security. more
    How does birth rate and death rate affect population growth rate?
    The younger a population, the faster that population grows because the birth rate is higher and the death rate is lower (Fig. 13-1). When birth rate is expressed per age group, it is called the standardized birth rate, as opposed to the crude birth rate of the total population. more
    What is bill rate vs pay rate?
    In other words, pay rate is the amount of income independent professionals are actually paid (and taxed on). For the purposes of your discussion with a client, a bill rate is your net pay after taxes and any fees charged to you or the client. more
    What is the rate of natural increase of a country's population if the crude birth rate is 35 per 1000 and crude death rate is 10 per 1000?
    What is the rate of natural increase of a country's population if the crude birth rate is 35 per 1,000 and crude death rate is 10 per 1,000? 30. In 2006, the United Nations forecast that the world population would reach ______ by 2050. B. more
    Why bank rate is called discount rate?
    Now it should be noted that the rate at which the Central bank discounts the eligible bills already discounted by the commercial banks is called re-discount rate or bank rate. The discount rate refers to the rate at which the commercial bank discounts the bills of the businessmen. more
    Does birth rate equal death rate?
    Zero population growth Zero population growth (ZPG) occurs when the birth rate equals the death rate (assuming no net migration for the human population as a whole). more
    Is bank rate and repo rate same?
    Simply put, repo rate is the rate at which the RBI lends to commercial banks by purchasing securities while bank rate is the lending rate at which commercial banks can borrow from the RBI without providing any security. more
    Is survival rate same as mortality rate?
    Here's the takeaway: the mortality rate is the number of people who die every year of a given cause in a specific number of people (often 100,000). The survival rate is how many people are still alive at a specific time after diagnosis. more

    Source: www.bls.gov

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