CPI Rises 1.2%, 3-mo Compound Annual Rate for Energy hits 122.1%
CONSUMER PRICE INDEX: SEPTEMBER 2005
The Consumer Price Index for All Urban Consumers (CPI-U) increased
1.2 percent in September, before seasonal adjustment, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. The September
level of 198.8 (1982-84=100) was 4.7 percent higher than in September
2004.
The Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W) increased 1.5 percent in September, prior to seasonal adjustment.
The September level of 195.0 was 5.2 percent higher than in September
2004.
The Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
increased 0.8 percent in September on a not seasonally adjusted basis.
The September level of 114.7 (December 1999=100) was 3.5 percent higher
than in September 2004. Please note that the indexes for the post-2003
period are subject to revision.
CPI for All Urban Consumers (CPI-U)
On a seasonally adjusted basis, the CPI-U increased 1.2 percent in
September. Energy costs increased sharply for the third consecutive month-
-up 12.0 percent in September--and accounted for over 90 percent of the
advance in the September CPI-U. Within energy, the index for energy
commodities (petroleum-based energy) increased 17.4 percent and the index
for energy services rose 4.6 percent. The index for food, which was
unchanged in August, rose 0.3 percent in September, largely reflecting an
upturn in the index for fruits and vegetables. The index for all items
less food and energy registered a 0.1 percent increase for the fifth
consecutive month. Shelter costs, which were virtually unchanged in
August, declined 0.1 percent in September, largely as a result of a 2.5
percent decrease in the index for lodging away from home. The index for
apparel, which increased 1.0 percent in August, declined 0.1 percent in
September. These declines were more than offset by upturns in the indexes
for new vehicles, for medical care services, and for communication.
Table A. Percent changes in CPI for All Urban Consumers CPI-U
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Hurricanes Katrina and Rita had a very small effect on survey response rates
in September. Response rates in those affected areas were lower than usual,
but the missing prices accounted for less than 1 percent of the overall
CPI sample.
Consumer prices increased at a seasonally adjusted annual rate (SAAR)
of 9.4 percent in the third quarter of 2005, following increases in the
first and second quarters at annual rates of 4.3 and 1.9 percent,
respectively. This brings the year-to-date annual rate to 5.1 percent and
compares with an increase of 3.3 percent in all of 2004. The index for
energy, which advanced at annual rates of 21.1 and 7.5 percent in the
first two quarters, increased at a 122.1 percent rate in the third quarter
of 2005. Thus far this year, energy costs have risen at a 42.5 percent
SAAR after increasing 16.6 percent in all of 2004. In the first nine
months of 2005, petroleum-based energy costs increased at a 67.9 percent
rate and charges for energy services increased at a 14.6 percent rate.
The food index rose at a 2.2 percent SAAR in the first nine months of
2005. The index for grocery store food prices increased at a 1.3 percent
rate. Among the six major grocery store food groups, the index for
nonalcoholic beverages registered the largest increase during this span--
up at a 4.3 percent rate--while the index for fruits and vegetables
recorded the only decline--down at a 1.7 percent annual rate.
The CPI-U excluding food and energy advanced at a 1.4 percent SAAR
in the third quarter, following increases at rates of 3.3 and 1.2 percent
in the first two quarters of 2005. The advance at a 2.0 percent SAAR for
the first nine months of 2005 compares with a 2.2 percent rise in all of
2004. Each of the major groups--including alcoholic beverages and the non-
energy portion of the housing and transportation groups--registered a rate
of change in the first 9 months of 2005 within one percent of that for all
of 2004. The annual rates for selected groups for the last seven and
three-quarter years are shown below.
Table has been removed, please click here for the full release
The food and beverages index rose 0.2 percent in September. The
index for food at home increased 0.3 percent, following a 0.2 percent
decline in August. The index for fruits and vegetables, which fell 1.3
percent in August, advanced 1.5 percent in September. The indexes for
fresh fruits and for fresh vegetables increased 1.1 and 1.8 percent,
respectively, and the index for processed fruits and vegetables increased
1.8 percent. The index for meats, poultry, fish, and eggs increased 0.5
percent in September. The index for pork turned up in September,
following declines in each of the four preceding months. Prices for beef
and veal declined for the fourth consecutive month--down 0.5 percent in
September. Poultry prices rose 1.1 percent. The index for eggs, which
fell 4.2 percent in August, rose 9.7 percent. The index for nonalcoholic
beverages, which was unchanged in August, rose 0.8 percent in September,
reflecting an upturn in prices for carbonated drinks. The index for other
food at home was unchanged. The other two major grocery store food
groups, the indexes for dairy products and for cereals and bakery
products, declined 1.2 and 0.4 percent, respectively. The other two
components of the food and beverage index--food away from home and
alcoholic beverages--increased 0.2 and 0.4 percent, respectively.
The index for housing rose 0.4 percent in September, following an
increase of 0.2 percent in July. A sharp increase in the index for fuels
and utilities more than offset declines in the indexes for shelter and for
household furnishings and operations. Shelter costs, which were
virtually unchanged in August, declined 0.1 percent in September. A 2.5
percent decline in the index for lodging away from home more than offset
increases of 0.1 percent each in the indexes for rent and owners'
equivalent rent. (Prior to seasonal adjustment, the index for lodging
away from home declined 7.1 percent, while the indexes for rent and
owners' equivalent rent increased 0.3 and 0.2 percent, respectively.) The
index for fuels and utilities rose 4.2 percent in September. The index for
fuel oil increased 12.7 percent in September and was 55.9 percent higher
than a year ago. The index for natural gas also increased sharply for the
third consecutive month--up 12.1 percent in September. During the last 12
months, charges for natural gas have risen 28.1 percent. The index for
electricity rose 0.7 percent in September and was 6.4 percent higher than
a year ago. The index for household furnishings and operations, which
increased 0.2 percent in August, declined 0.2 percent in September.
The transportation index increased 5.1 percent in September,
reflecting a 17.8 percent increase in the index for motor fuels. (Prior
to seasonal adjustment, gasoline prices rose 17.4 percent from their
previous peak level registered in August.) The index for new and used
motor vehicles increased 0.4 percent in September. The index for new
vehicles rose 0.4 percent in September, following substantial declines in
each of the preceding two months. (About 17 percent of the new car sample
was represented by 2006 models.) The index for used cars and trucks
declined 0.4 percent, while the indexes for leased cars and trucks and for
car and truck rental increased 2.5 and 1.4 percent, respectively. Airline
fares declined for the second consecutive month--down 1.4 percent in
September--but were 9.0 percent higher than in September 2004.
The index for apparel, which rose 1.0 percent in August, declined 0.1
percent in September. (Prior to seasonal adjustment, apparel prices rose
4.1 percent, reflecting seasonal price increases associated with the
continued introduction of fall-winter wear.)
Medical care costs rose 0.3 percent in September to a level 3.9
percent above a year ago. The index for medical care commodities--
prescription drugs, nonprescription drugs, and medical supplies--rose 0.3
percent. The index for medical care services also rose 0.3 percent.
Charges for professional services and for hospital and related services
increased 0.4 and 0.3 percent, respectively.
The index for recreation increased 0.4 percent in September. The
indexes for video and audio and for club membership dues and fees for
participant sports--up 0.5 and 1.4 percent, respectively--accounted for
over 70 percent of the September advance in the recreation component.
The index for education and communication increased 0.7 percent in
September. Educational costs rose 0.8 percent, reflecting increases in
the indexes for tuition and for educational books and supplies--up 0.7 and
1.8 percent, respectively. (Prior to seasonal adjustment, educational
costs advanced 2.1 percent, reflecting in part a 2.4 percent rise in
college tuition costs and a 2.1 percent increase in college textbooks.
During the last 12 months, the cost of college tuition has risen 6.8
percent.) The index for communication costs, which declined 0.5 percent
in August, rose 0.7 percent in September. Within the communication index,
charges for telephone
services increased 1.1 percent, reflecting a 3.4 percent rise in land-
line long distance charges. Partially offsetting this increase was a 0.8
percent decline in the index for personal computers and peripheral
equipment.
The index for other goods and services rose 0.1 percent in September.
A 0.7 percent increase in the index for tobacco and smoking products was
partially offset by a decline in the index for personal care.
CPI for Urban Wage Earners and Clerical Workers (CPI-W)
On a seasonally adjusted basis, the CPI for Urban Wage Earners and
Clerical Workers increased 1.4 percent in September.
Table B. Percent changes in CPI for Urban Wage Earners and Clerical
Workers (CPI-W)
Table has been removed, please click here for the full release
Consumer Price Index data for October are scheduled for release on
Wednesday, November 16, 2005, at 8:30 A.M. (EST).
Source: Bureau of Labor Statitics
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