BLS: The March CPI for the greater New York area

BLS: The March CPI for the greater New York area

Written By: Talk of the Sound News

NEW YORK, NY — The Consumer Price Index for All Urban Consumers (CPI-U) in the greater New York area edged up 0.2 percent in March. This reflected increases of 3.7 percent for energy and 0.1 percent for shelter.

The March increase in energy prices ended a streak of eight consecutive monthly declines.  Household energy prices rose 4.6 percent—the largest increase in over two years—with higher prices for natural gas (10.8 percent), electricity (2.8 percent), and fuel oil. Gasoline prices rose 2.0 percent.

The food index declined 0.3 percent in March, driven by lower prices for food at home (-0.8 percent). Price declines for flour and prepared flour mixes and ground beef contributed to the drop in grocery prices. By contrast, prices for food away from home rose 0.3 percent.

Over the year, the CPI-U for the New York area increased 0.7 percent, reflecting a 2.9-percent increase for shelter and 12.7-percent decline for energy. The index for food rose 0.4 percent over the year. The index for all items less food and energy advanced 1.8 percent.