09/11/2024 | Press release | Distributed by Public on 09/11/2024 09:46
24-1909-SAN
Wednesday, September 11, 2024
Prices in the Seattle area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), increased 0.1 percent for the two months ending in August 2024, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Chris Rosenlund noted that the August increase was influenced by higher prices for shelter. (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 rose 3.1 percent. (See chart 1 and table A.) Food prices increased 0.9 percent. Energy prices declined 6.2 percent, largely the result of a decrease in the price of gasoline. The index for all items less food and energy rose 3.9 percent over the year. (See table 1.)
Month | All items | All items less food and energy |
Aug 2021 |
5.2 | 4.1 |
Oct 2021 |
6.5 | 5.3 |
Dec 2021 |
7.6 | 6.5 |
Feb 2022 |
8.1 | 7.0 |
Apr 2022 |
9.1 | 7.8 |
Jun 2022 |
10.1 | 8.8 |
Aug 2022 |
9.0 | 8.2 |
Oct 2022 |
8.9 | 7.7 |
Dec 2022 |
8.4 | 8.1 |
Feb 2023 |
8.0 | 7.7 |
Apr 2023 |
6.9 | 7.3 |
Jun 2023 |
4.6 | 5.3 |
Aug 2023 |
5.4 | 5.7 |
Oct 2023 |
4.8 | 5.5 |
Dec 2023 |
4.4 | 4.9 |
Feb 2024 |
4.3 | 5.2 |
Apr 2024 |
4.4 | 4.9 |
Jun 2024 |
3.8 | 4.4 |
Aug 2024 |
3.1 | 3.9 |
Food prices advanced 0.8 percent for the two months ending in August. (See table 1.) Prices for food at home increased 0.8 percent, led by higher prices for other food at home (3.2 percent) and dairy and related products (3.1 percent). Prices for food away from home increased 0.7 percent for the same period.
Over the year, food prices increased 0.9 percent. Prices for food at home decreased 0.5 percent since a year ago, with lower prices in four of the six grocery categories. Prices for food away from home rose 3.2 percent.
EnergyThe energy index decreased 2.0 percent for the two months ending in August. The decrease was mainly due to lower prices for gasoline (-3.8 percent). Prices for natural gas service increased 2.1 percent, while prices for electricity were unchanged for the same period.
Energy prices declined 6.2 percent over the year, largely due to lower prices for gasoline (-14.9 percent). Prices paid for electricity increased 9.5 percent, and prices for natural gas service increased 9.2 percent during the past year.
All items less food and energyThe index for all items less food and energy advanced 0.2 percent in the latest two-month period. Higher prices for shelter (1.4 percent) and recreation (0.4 percent) were partially offset by lower prices for apparel (-3.0 percent) and medical care (-0.8 percent).
Over the year, the index for all items less food and energy rose 3.9 percent. Components contributing to the increase included shelter (6.2 percent) and medical care (6.0 percent). Partly offsetting the increases was a price decrease in used cars and trucks (-12.8 percent).
Table A. Seattle-Tacoma-Bellevue, WA, CPI-U 2-month and 12-month percent changes, all items index, not seasonally adjustedMonth | 2020 | 2021 | 2022 | 2023 | 2024 | |||||
2-month | 12-month | 2-month | 12-month | 2-month | 12-month | 2-month | 12-month | 2-month | 12-month | |
February |
1.0 | 2.5 | 1.2 | 1.7 | 1.7 | 8.1 | 1.4 | 8.0 | 1.2 | 4.3 |
April |
-0.6 | 1.3 | 1.1 | 3.4 | 2.1 | 9.1 | 1.0 | 6.9 | 1.2 | 4.4 |
June |
0.2 | 0.9 | 2.2 | 5.5 | 3.2 | 10.1 | 1.0 | 4.6 | 0.4 | 3.8 |
August |
1.4 | 1.6 | 1.1 | 5.2 | 0.0 | 9.0 | 0.8 | 5.4 | 0.1 | 3.1 |
October |
-0.1 | 2.1 | 1.1 | 6.5 | 1.0 | 8.9 | 0.4 | 4.8 | ||
December |
-0.4 | 1.4 | 0.6 | 7.6 | 0.1 | 8.4 | -0.3 | 4.4 |
The October 2024 Consumer Price Index for the Seattle area is scheduled to be released on November 13, 2024.
The Consumer Price Index (CPI) is a measures 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 U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. 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/cpiand 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 Seattle-Tacoma-Bellevue, WA. metropolitan area covered in this release is comprised of King, Pierce, and Snohomish Counties in the State of Washington.
Information in this release will be made available to individuals with sensory impairments 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
Item and Group |
Indexes | Percent change from- | |||||
Historical data |
Jun. 2024 |
Jul. 2024 |
Aug. 2024 |
Aug. 2023 |
Jun. 2024 |
Jul. 2024 |
|
Expenditure category |
|||||||
All items |
354.824 | - | 355.179 | 3.1 | 0.1 | - | |
All items (1967=100) |
1,081.641 | - | 1,082.725 | - | - | - | |
Food and beverages |
359.759 | - | 362.555 | 1.4 | 0.8 | - | |
Food |
361.428 | - | 364.226 | 0.9 | 0.8 | - | |
Food at home |
318.391 | 322.335 | 320.908 | -0.5 | 0.8 | -0.4 | |
Cereals and bakery products |
389.718 | 402.412 | 393.075 | 4.7 | 0.9 | -2.3 | |
Meats, poultry, fish, and eggs |
289.587 | 293.073 | 286.234 | -1.1 | -1.2 | -2.3 | |
Dairy and related products |
281.278 | 282.782 | 290.133 | -1.6 | 3.1 | 2.6 | |
Fruits and vegetables |
493.726 | 493.487 | 492.555 | 0.7 | -0.2 | -0.2 | |
Nonalcoholic beverages and beverage materials(1) |
407.658 | 412.053 | 400.710 | -2.3 | -1.7 | -2.8 | |
Other food at home |
244.463 | 248.469 | 252.247 | -1.6 | 3.2 | 1.5 | |
Food away from home |
431.965 | - | 435.193 | 3.2 | 0.7 | - | |
Alcoholic beverages |
332.010 | - | 334.704 | 6.9 | 0.8 | - | |
Housing |
428.071 | - | 432.954 | 5.7 | 1.1 | - | |
Shelter |
492.417 | 493.986 | 499.076 | 6.2 | 1.4 | 1.0 | |
Rent of primary residence(2) |
496.098 | 498.860 | 500.302 | 5.4 | 0.8 | 0.3 | |
516.220 | 520.063 | 524.603 | 6.7 | 1.6 | 0.9 | ||
516.220 | 520.063 | 524.603 | 6.7 | 1.6 | 0.9 | ||
Fuels and utilities |
355.403 | - | 356.495 | 7.9 | 0.3 | - | |
Household energy |
322.205 | 323.761 | 323.765 | 8.0 | 0.5 | 0.0 | |
Energy services(2) |
380.535 | 382.331 | 382.547 | 8.8 | 0.5 | 0.1 | |
Electricity(2) |
397.626 | 397.626 | 397.626 | 9.5 | 0.0 | 0.0 | |
Utility (piped) gas service(2) |
253.441 | 258.117 | 258.682 | 9.2 | 2.1 | 0.2 | |
Household furnishings and operations |
228.289 | - | 227.585 | -0.6 | -0.3 | - | |
Apparel |
140.461 | - | 136.219 | 2.3 | -3.0 | - | |
Transportation |
306.383 | - | 296.001 | -2.3 | -3.4 | - | |
Private transportation |
321.348 | - | 316.235 | -0.9 | -1.6 | - | |
New and used motor vehicles(4) |
125.293 | - | 124.849 | -2.2 | -0.4 | - | |
New vehicles(1) |
225.159 | - | 224.993 | 0.0 | -0.1 | - | |
Used cars and trucks(1) |
410.204 | - | 399.902 | -12.8 | -2.5 | - | |
Motor fuel |
499.570 | 487.101 | 480.620 | -14.8 | -3.8 | -1.3 | |
Gasoline (all types) |
509.617 | 496.833 | 490.184 | -14.9 | -3.8 | -1.3 | |
Gasoline, unleaded regular(4) |
550.328 | 536.249 | 528.920 | -15.4 | -3.9 | -1.4 | |
406.769 | 397.441 | 392.508 | -13.8 | -3.5 | -1.2 | ||
Gasoline, unleaded premium(4) |
478.123 | 466.935 | 461.141 | -13.1 | -3.6 | -1.2 | |
Medical care |
485.169 | - | 481.489 | 6.0 | -0.8 | - | |
Recreation(6) |
121.857 | - | 122.355 | 0.8 | 0.4 | - | |
Education and communication(6) |
148.316 | - | - | - | - | - | |
Tuition, other school fees, and child care(1) |
- | - | - | - | - | - | |
Other goods and services |
537.253 | - | 537.446 | 3.5 | 0.0 | - | |
Commodity and service group |
|||||||
All items |
354.824 | - | 355.179 | 3.1 | 0.1 | - | |
Commodities |
243.958 | - | 242.711 | -2.0 | -0.5 | - | |
Commodities less food & beverages |
190.186 | - | 187.834 | -3.9 | -1.2 | - | |
Nondurables less food & beverages |
233.847 | - | 228.502 | -3.2 | -2.3 | - | |
Durables |
149.894 | - | 149.435 | -4.5 | -0.3 | - | |
Services |
458.104 | - | 459.875 | 6.0 | 0.4 | - | |
Special aggregate indexes |
|||||||
All items less medical care |
349.239 | - | 349.824 | 3.0 | 0.2 | - | |
All items less shelter |
301.614 | - | 299.217 | 1.1 | -0.8 | - | |
Commodities less food |
195.455 | - | 193.225 | -3.4 | -1.1 | - | |
Nondurables |
294.728 | - | 292.911 | -0.7 | -0.6 | - | |
Nondurables less food |
241.999 | - | 237.178 | -2.2 | -2.0 | - | |
Services less rent of shelter(3) |
427.531 | - | 422.715 | 5.5 | -1.1 | - | |
Services less medical care services |
451.662 | - | 453.461 | 5.9 | 0.4 | - | |
Energy |
421.686 | 416.478 | 413.325 | -6.2 | -2.0 | -0.8 | |
All items less energy |
355.061 | - | 355.845 | 3.6 | 0.2 | - | |
All items less food and energy |
353.701 | - | 354.238 | 3.9 | 0.2 | - | |
Footnotes |
|||||||
- Data not available |