The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.5 percent in February on a not seasonally adjusted basis. The February level of 118.021 (December 1999=100) was 2.2 percent higher than in February 2006. Please note that the indexes for the post-2005 period are subject to revision.
CPI for All Urban Consumers (CPI-U)
On a seasonally adjusted basis, the CPI-U advanced 0.4 percent in February, following a 0.2 percent increase in January. Energy costs increased 0.9 percent in February after declining 1.5 percent in January. In February, the index for petroleum-based energy increased 0.3 percent and the index for energy services rose 1.5 percent. The food index rose 0.8 percent in February, following a 0.7 percent increase in January. Grocery store foods rose 1.1 percent, largely reflecting a 4.7 percent increase in the index for fruits and vegetables. The index for all items less food and energy advanced 0.2 percent in February, following a 0.3 percent rise in January; an increase in the index for shelter accounted for about one-half of the February advance.
The food and beverages index rose 0.8 percent in February. The index for food at home increased 1.1 percent, following a 0.9 percent increase in January. Over three-fifths of the February advance was attributable to a 4.7 percent increase in the index for fruits and vegetables. Anticipated smaller citrus crops for the 2006-07- season were exacerbated by adverse weather conditions in January on the West coast, resulting in sharply higher citrus prices--up 16.3 percent in February. Overall, the indexes for fresh fruits and for fresh vegetables each increased 5.7 percent, and the index for processed fruits and vegetables rose 0.6 percent. Breakfast cereal prices rose 3.3 percent in February after declining 2.4 percent in January, largely accounting for the 1.1 percent increase in the index for cereal and bakery products. The index for meats, poultry, fish, and eggs, which advanced 0.8 percent in January, increased 0.4 in February. Beef prices increased 1.3 percent, while the indexes for pork and for other meats declined 0.6 and 2.9 percent, respectively. Prices for poultry products rose 0.8 percent and prices for fish and seafood increased 0.4 percent. The index for eggs rose sharply for the fourth consecutive month--up 8.0 percent in February and has advanced 29.1 percent in the last 12 months. The index for other food at home increased 0.3 percent and the indexes for dairy products and for nonalcoholic beverages each rose 0.2 percent. The other two components of the food and beverages index--food away from home and alcoholic beverages-increased 0.4 and 0.7 percent, respectively.
The index for housing rose 0.4 percent in February, following a 0.2 percent increase in January. The index for fuels and utilities, which rose 0.3 percent in January, increased 1.2 percent in February, reflecting upturns in the indexes for fuel oil and for natural gas. The index for fuel oil rose 0.5 percent in February, following a 5.6 percent decline in January. The index for natural gas, which declined 3.0 percent in January, advanced 5.0 percent in February. Charges for electricity were virtually unchanged in February after advancing 2.0 percent in January. The index for shelter increased 0.3 percent in February, the same as in each of the preceding two months. Within shelter, the index for rent rose 0.4 percent; owners' equivalent rent increased 0.3 percent; and the index for lodging away from home rose 0.1 percent. (Prior to seasonal adjustment, the index for lodging away from home increased 4.1 percent.) The index for household furnishings and operations, which declined 0.3 percent in January, rose 0.2 percent in February.
The transportation index rose 0.1 percent in February, following a 0.8 percent decrease in January. The index for gasoline prices, which declined 3.0 percent in January, rose 0.3 percent in February. Gasoline prices were 1.4 percent lower than a year ago and 23.7 percent lower than their peak level recorded in July 2006. The index for new vehicles declined 0.1 percent in February and was 1.4 percent lower than in February 2006. (As of February, about 88 percent of the new vehicle sample was represented by 2007 models. The 2007 models will continue to be phased in, with appropriate adjustments for quality change, over the next several months as they replace old models at dealerships.) The index for used cars and trucks decreased 0.5 percent in February. The index for public transportation rose 0.3 percent in January, reflecting a 0.9 percent increase in the index for airline fares.
The index for apparel rose 0.5 percent in February, following a 0.3 percent increase in January. (Prior to seasonal adjustment, apparel prices rose 2.6 percent, reflecting the introduction of spring-summer wear. Prices for women's apparel registered the largest advance-up 4.9 percent.)
Medical care costs rose 0.5 percent in February and are 4.3 percent higher than a year ago. The index for medical care commodities-prescription drugs, nonprescription drugs, and medical supplies-decreased 0.3 percent. The index for medical care services advanced 0.7 percent. The indexes for professional services and for hospital and related services increased 0.7 and 0.6 percent, respectively.
The index for recreation was virtually unchanged in February. Increases in the indexes for pets, pet products and services and for recreational reading materials--up 0.8 and 0.3 percent, respectively-offset declines in the indexes for video and audio, for sporting goods, for photography, and for toys.
The index for education and communication increased 0.3 percent in February. Educational costs increased 0.6 percent and communication costs rose 0.1 percent. Within the communication group, the index for information and information processing rose 0.1 percent as a 0.2 percent increase in telephone services more than offset small decreases in the indexes for personal computers and peripheral equipment, for computer software and accessories and for internet services and electronic information providers.
The index for other goods and services increased 0.2 percent in February. The index for tobacco and smoking products registered its third consecutive large advance-up 1.0 percent in February-and accounted for virtually all of the increase in this major group.
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 0.4 percent in February.
