April 1994 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent before seasonal adjustment in April to a level of 147.4 (1982-84=100), the Bureau of Labor Statistics of the U.S. Department of Labor reported today. For the 12-month period ended in April, the CPI-U increased 2.4 percent.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.2 percent in April, prior to seasonal adjustment. The April 1994 CPI-W level of 144.7 was 2.2 percent higher than the index in April 1993.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U rose 0.1 percent in April, following increases of 0.3 percent in each of the 2 preceding months. The food index increased 0.1 percent in April, the same as in March. A sharp decline in the index for fruits and vegetables offset increases in the other major grocery store food groups. The energy index dropped 0.4 percent in April after increasing in each of the 2 preceding months. The indexes for household fuels and motor fuels each fell slightly, following seasonal adjustment. Excluding food and energy, the CPI-U rose 0.2 percent in April, following increases of 0.3 percent in each of the 2 preceding months. The more moderate increase in April reflects a substantially smaller rise in shelter costs coupled with a decline in the apparel index.

During the first 4 months of 1994, the CPI-U rose at a 2.3 percent seasonally adjusted annual rate (SAAR). This compares with a 2.7 percent annual increase in 1993. The food index declined at a 0.6 percent rate during the first 4 months, while the indexes for energy and all items less food and energy increased at annual rates of 2.4 and 2.7 percent, respectively.

The food and beverage index increased 0.1 percent in April, the same as in March. Grocery store food prices were unchanged in April, following seasonal adjustment, and have declined at a 1.7 percent annual rate thus far in 1994. The index for fruits and vegetables, which has been the predominant factor in the behavior of the grocery store food index during most of the past 12 months, declined 2.3 percent in April, offsetting increases in the other major grocery store food groups. The index for fresh fruits decreased 1.4 percent, while that for fresh vegetables fell 6.0 percent. The index for processed fruits and vegetables increased 0.2 percent. Among other grocery store food groups, the index for meats, poultry, fish, and eggs rose 0.1 percent in April. Declines in prices for beef and eggs were more than offset by increases in the indexes for pork, other meats, poultry, and fish and seafood. Beef prices declined 0.7 percent in April and are 0.4 percent lower than a year earlier. The indexes for pork and poultry rose 0.2 and 0.6 percent, respectively. The indexes for cereal and bakery products and dairy products increased 1.1 percent and 0.8 percent, respectively. The index for other food at home rose 0.5 percent in April, reflecting increases in prices for both canned and frozen prepared foods. The other two components of the food and beverage index--restaurant meals and alcoholic beverages--rose 0.2 percent and were unchanged, respectively.

The housing component was unchanged in April, following a 0.3 percent increase in March. Shelter costs, which increased 0.5 and 0.4 percent in the 2 preceding months, rose 0.1 percent in April. Within shelter, renters' costs were unchanged, while homeowners' costs and maintenance and repair costs increased 0.1 and 0.7 percent, respectively. The index for fuel and other utilities also contributed to the moderation in housing costs, declining 0.3 percent in April after increasing the same amount in March. The index for household fuels fell 0.5 percent, reflecting declines in indexes for fuel oil and electricity--down 2.3 and 0.7 percent, respectively. Charges for natural gas also declined, but the index rose 0.2 percent after seasonal adjustment. The index for other utilities and public services decreased 0.1 percent, largely as a result of declines in charges for telephone services, both local and long distance. The index for household furnishings and operation continued to register small changes, advancing 0.1 percent in April, the same as in March.

The transportation index rose 0.3 percent in April, following increases of 0.5 and 0.6 percent in the 2 preceding months. The moderation in April was largely the result of a downturn in the index for motor fuels, coupled with a smaller rise in the index for public transportation. The index for gasoline, which had increased in the 2 preceding months, was unchanged in April. (Prior to seasonal adjustment, gasoline prices rose 1.7 percent.) As of April, the gasoline index was 4.0 percent lower than a year earlier and 18.2 percent below its peak level of December 1990. Automobile purchase costs advanced substantially for the third consecutive month. The index for new vehicles rose 0.4 percent and automobile finance charges advanced 2.3 percent, their largest increase since a 2.4 percent rise in March 1989. The index for used cars rose 0.8 percent. The index for public transportation increased 0.2 percent, following a 1.6 percent rise in March. A 0.8 percent increase in airline fares was partially offset by a 0.4 percent decline in the index for other intercity transportation.

The index for apparel and upkeep declined 0.3 percent in April to a level 0.4 percent lower than a year ago. (Prior to seasonal adjustment, apparel prices rose 0.2 percent.)

Medical care costs rose 0.6 percent in April, its largest advance since a 0.7 percent increase in May 1993. The index for medical care commodities--prescription drugs, nonprescription drugs, and medical supplies--rose 0.5 percent in April. The index for medical care services rose 0.7 percent in April. Charges for professional services and hospital and related services increased 0.7 and 0.5 percent, respectively.

Entertainment costs declined 0.1 percent in April, as a decrease in the index for entertainment services more than offset an increase in the index for entertainment commodities. Fees for participant sports fell 1.6 percent in April, but remained well above their level a year earlier--up 7.2 percent.

The index for other goods and services rose 0.7 percent in April. A 4.9 percent increase in the index for personal financial services, coupled with a 0.8 percent rise in the index for personal care, accounted for about 60 percent of the April advance.

CPI for Urban Wage Earners and Clerical Workers (CPI-W)

On a seasonally adjusted basis, the CPI for Urban Wage Earners and Clerical Workers rose 0.1 percent in April.