The Consumer Price Index for All Urban Consumers (CPI-U) in the Miami-Fort Lauderdale-West Palm Beach area decreased by 0.2 percent from June to August, according to a report released by the U.S. Bureau of Labor Statistics. Regional Commissioner Victoria G. Lee stated that the index for all items less food and energy dropped 0.3 percent over the two-month period, while the energy index remained unchanged and the food index increased slightly by 0.1 percent.
Over the past year, ending in August, the CPI-U for all items in this metropolitan area rose 2.5 percent. The index for all items excluding food and energy went up by 2.4 percent during this period. Food prices climbed 4.8 percent, while energy prices edged up by just 0.2 percent.
Breaking down recent changes, grocery store purchases saw a 0.2 percent increase from June to August, with notable rises in nonalcoholic beverages and beverage materials (+4.0 percent) as well as dairy products (+3.1 percent). However, fruit and vegetable prices fell by 3.8 percent during these months.
For dining out or purchasing prepared foods, prices did not change between June and August but were up 5 percent compared to last year.
Energy costs overall showed little movement recently; gasoline prices dipped marginally by 0.1 percent over two months but declined more sharply—by 9.1 percent—over twelve months.
Among other consumer goods and services tracked outside of food and energy categories, household furnishings and operations dropped significantly (down 5.9 percent), along with apparel (-5.4 percent), other goods and services (-2.5 percent), and medical care (-0.6 percent).
Shelter costs rose moderately (up 0.4 percent from June to August), including increases in both rent indexes at similar rates over both bi-monthly and annual periods.
Alcoholic beverages experienced a marked price jump of 13.3% over two months; education and communication also increased by 1.4%.
Local CPI figures are published every two months but are based on smaller samples than national data sets, which can make them more volatile due to greater measurement error or lack of seasonal adjustment factors https://www.bls.gov/cpi/. These local indexes measure price changes within their respective areas since their base periods rather than comparing price levels across cities.
The next release for September’s Consumer Price Index is scheduled for October 15 at 8:30 a.m., followed by October’s release on November 13 at the same time slot.
Miami-St.Petersburg-Clearwater’s Core Based Statistical Area covers Broward, Miami-Dade, and Palm Beach counties in Florida https://www.census.gov/programs-surveys/metro-micro.html.
