April 2003 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.2 percent in April, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The April level of 183.8 (1982-84=100) was 2.2 percent higher than in April 2002.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) decreased 0.3 percent in April, prior to seasonal adjustment. The April level of 179.8 was 2.3 percent higher than in April 2002.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U declined 0.3 percent in April, following an increase of 0.3 percent in March. Energy costs, which rose 4.6 percent in March, declined 4.6 percent in April. Within energy, the index for petroleum-based energy declined 8.4 percent and the index for energy services decreased 0.5 percent. The index for food fell 0.1 percent, following a 0.2 percent increase in March. The index for food at home declined 0.2 percent. The index for all items less food and energy was unchanged for the second consecutive month in April after increasing 0.1 percent in both January and February.

During the first four months of 2003, the CPI-U rose at a 2.8 percent seasonally adjusted annual rate (SAAR). This compares with an increase of 2.4 percent for all of 2002. The index for energy, which rose 10.7 percent in 2002, advanced at a 32.8 percent SAAR in the first four months of 2003. Petroleum-based energy costs increased at a 41.0 percent annual rate and charges for energy services rose at a 25.1 percent annual rate. The food index has increased at a 1.7 percent SAAR thus far this year, following a 1.5 percent rise for all of 2002. Excluding food and energy, the CPI-U advanced at a 0.6 percent SAAR in the first four months, following a 1.9 percent rise in all of 2002.

The food and beverages index fell 0.1 percent in April. The index for food at home, which increased 0.1 percent in March, declined 0.2 percent in April. Declines in four of the six major grocery store food groups more than offset increases of 0.6 percent in the indexes for meats, poultry, fish and eggs and for nonalcoholic beverages. The indexes for beef and for pork each rose 0.3 percent and poultry prices rose 0.7 percent. Within the index for nonalcoholic beverages, price increases for carbonated drinks and coffee were partially offset by a drop in tea prices. On the other hand, the index for fruits and vegetables declined 1.4 percent in April, following a 0.1 percent increase in March. The indexes for fresh fruits, for fresh vegetables, and for processed fruits and vegetables declined 1.2, 1.8, and 1.1 percent, respectively. (Prior to seasonal adjustment, fresh fruit prices rose 1.0 percent, while prices for fresh vegetables and for processed fruits and vegetables declined 2.6 and 1.4 percent, respectively.) The index for dairy products declined for the second consecutive month--down 0.8 percent in April--reflecting price declines for ice cream and cheese and related products. The remaining two major grocery store food groups--cereals and bakery products and other food at home--decreased 0.5 and 0.3 percent, respectively. The other two components of the food and beverage index--food away from home and alcoholic beverages--increased 0.1 and declined 0.1 percent, respectively.

The index for housing declined 0.1 percent in April. Shelter costs increased 0.1 percent after registering virtually no change in each of the preceding two months. Within shelter, the indexes for rent and for lodging away from home rose 0.3 and 0.2 percent, respectively, while the index for owners' equivalent rent was unchanged. (Prior to seasonal adjustment, the index for lodging away from home fell 0.8 percent.) The index for fuels and utilities turned down in April, following sharp increases in the first three months of 2003. The index for fuel oil decreased 14.9 percent in April, but prices for fuel oil were 31.5 percent higher than in April 2002. The index for natural gas fell 3.8 percent, but charges remain 27.3 percent higher than a year earlier. The index for electricity increased 1.2 percent in April and has risen 2.8 percent in the last 12 months. The index for household furnishings and operations declined 0.2 percent in April.

The transportation index turned down in April, declining 1.7 percent, after registering increases of 1.0 percent or more in each of the preceding three months. The index for gasoline, which rose sharply in each of the first three months of 2003, decreased 8.3 percent in April. (Prior to seasonal adjustment, gasoline prices fell 5.1 percent in April.) The index for new vehicles declined 0.4 percent in April, and during the last 12 months it has fallen 1.2 percent. The index for used cars and trucks decreased 0.3 percent in April and this index has declined 2.2 percent in the last 12 months. Airline fares increased for the third consecutive month--up 0.9 percent in April--but are 1.9 percent lower than a year ago.

The index for apparel declined 0.6 percent in April. (Prior to seasonal adjustment, apparel prices rose 0.2 percent.)

Medical care costs rose 0.2 percent in April to a level 4.0 percent higher than a year ago. The index for medical care commodities-- prescription drugs, nonprescription drugs, and medical supplies--was virtually unchanged. The index for medical care services rose 0.3 percent in April. Charges for professional services and for hospital and related services each increased 0.2 percent.

The index for recreation declined 0.1 percent in April, following a 0.1 percent increase in March. Decreases in the indexes for admissions to sporting events, for photography, for toys, and for newspapers and magazines more than offset increases in the indexes for video and audio, for pets, pet products and services, and for sporting goods.

The index for education and communication decreased for the second consecutive month--down 0.2 percent in April. Educational costs rose 0.5 percent, while the index for communication costs fell 0.9 percent. Within the latter group, the index for telephone services declined 1.0 percent, reflecting a 2.8 percent decrease in long distance charges. The index for personal computers and peripheral equipment declined 1.6 percent.

The index for other goods and services rose 0.3 percent in April, following a 0.1 percent decline in March. Prices for tobacco and smoking products, which declined 1.2 percent in March, increased 0.1 percent in April. The index for personal care products--hair, dental, shaving, cosmetics, perfume, bath, nail preparations and implements, and miscellaneous personal care products--rose 0.5 percent.for

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

On a seasonally adjusted basis, the CPI for Urban Wage Earners and Clerical Workers decreased 0.5 percent in April.

Chained Consumer Price Index for All Urban Consumers (C-CPI-U)

The C-CPI-U decreased 0.2 percent in April on a not seasonally adjusted basis. The April level of 107.6 (December 1999=100) was 1.8 percent higher than in April 2002. Table 7 contains the most recent indexes for all items and the component series that are published. Data will be published monthly in the CPI Detailed Report and are available on the CPI home page: http://www.bls.gov/cpi/. Please note that the indexes for the post-2001 period are subject to revision.

Consumer Price Index data for May are scheduled for release on Tuesday, June 17, 2003, at 8:30 A.M. (EDT).

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