November 2004 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) increased 0.1 percent in November, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The November level of 191.0 (1982-84=100) was 3.5 percent higher than in November 2003.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.2 percent in November, prior to seasonal adjustment. The November level of 186.8 was 3.7 percent higher than in November 2003.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) was unchanged in November on a not seasonally adjusted basis. The November level of 111.1 (December 1999=100) was 3.1 percent higher than in November 2003. Please note that the indexes for the post-2002 period are subject to revision.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U increased 0.2 percent in November, following a 0.6 percent rise in October. Energy costs, which advanced 4.2 percent in October, increased 0.2 percent in November. Within energy, the index for household fuels rose 2.5 percent, while the index for motor fuels decreased 1.8 percent. The index for food, which rose 0.6 percent in October, increased 0.2 percent in November. The index for food at home rose 0.3 percent, reflecting a 3.3 percent increase in the index for fruits and vegetables. The index for all items less food and energy advanced 0.2 percent in November, the same as in October. Deceleration in the indexes for shelter and household furnishings and operations was largely offset by a larger increase in the index for new vehicles and an upturn in the index for telephone services.

During the first 11 months of 2004, the CPI-U rose at a 3.7 percent seasonally adjusted annual rate (SAAR). This compares with an increase of 1.9 percent for all of 2003. The index for energy, which increased 6.9 percent in 2003, advanced at a 20.5 percent SAAR in the first 11 months of 2004. Petroleum-based energy costs increased at a 34.9 percent annual rate and charges for energy services rose at a 6.8 percent annual rate. The food index has increased at a 2.9 percent rate thus far in 2004, following a 3.6 percent rise for all of 2003. Excluding food and energy, the CPI-U advanced at a 2.3 percent SAAR in the first 11 months of 2004 after increasing 1.1 percent in 2003.

The food and beverages index increased 0.2 percent in November. The index for food at home advanced 0.3 percent, reflecting a 3.3 percent increase in the index for fruits and vegetables. The indexes for fresh fruits and for fresh vegetables rose 1.7 and 6.3 percent, respectively. The index for processed fruits and vegetables rose 0.4 percent. Increases in the indexes for cereal and bakery products and for nonalcoholic beverages--each up 0.3 percent--also contributed to the November advance. Partially offsetting these increases were declines in the other three major grocery store food groups--for meats, poultry, fish, and eggs, for dairy products, and for other food at home. The index for meats, poultry, fish, and eggs declined 0.5 percent. Declines in the indexes for poultry, beef, other meats, and eggs more than offset small increases in the indexes for pork and for fish and seafood. During the last 12 months, poultry prices have increased 6.3 percent, pork prices, 5.2 percent, and beef prices, 0.6 percent, while egg prices have fallen 21.1 percent. In November, the index for dairy products declined 0.7 percent. Fresh whole milk prices, which registered sharp increases earlier this year, declined for the fifth consecutive month, but were 6.8 percent higher than in November 2003. The other two components of the food and beverage index-- food away from home and alcoholic beverages--increased 0.1 and 0.2 percent, respectively.

The index for housing rose 0.3 percent in November, following increases of 0.2 percent in each of the preceding four months. A sharp upturn in the index for fuels and utilities more than offset a deceleration in the index for shelter and a downturn in the index for household furnishings and operations. Shelter costs, which rose 0.1 percent in October, were virtually unchanged in November. A 0.5 percent decline in the index for lodging away from home offset a 0.2 percent increase in the index for residential rent; the index for owners' equivalent rent was virtually unchanged. The index for fuels and utilities rose 2.1 percent in November. The index for fuel oil rose 3.6 percent in November and was 46.1 percent higher than in November 2003. The index for natural gas increased 5.4 percent in November to a level 17.1 percent higher than a year ago. The index for electricity increased 0.9 percent and was 2.3 percent above its level a year ago. (Prior to seasonal adjustment, charges for electricity fell 2.0 percent, reflecting the shift to off-season rates in some areas.) The index for household furnishings and operations, which increased 1.0 percent in October, declined 0.2 percent in November.

The transportation index, which advanced 2.3 percent in October, declined 0.1 percent in November as a result of a downturn in the index for motor fuel. The index for gasoline, which advanced 8.6 percent in October, fell 1.8 percent in November. The index for new vehicles, which turned up in October, increased 0.7 percent in November. (Prior to seasonal adjustment, new vehicle prices rose 1.5 percent, their largest monthly increase since a 1.8 percent rise in November 1989. About 55 percent of the new car sample in November was represented by 2005 models.) New vehicle prices are 0.3 percent higher than in November 2003. The index for used cars and trucks declined 0.1 percent in November, but are 3.6 percent higher than a year ago. The index for public transportation, reflecting increases in airline fares and intracity transportation costs, advanced 2.4 percent in November.

The index for apparel rose 0.1 percent in November, following a 0.2 percent increase in October. (Prior to seasonal adjustment, apparel prices declined 0.9 percent, reflecting seasonal discounting on women's and girls' clothing.) During the last 12 months, the index for apparel has decreased 0.1 percent, with declines in prices for men's and boys' and for infants' and toddlers' apparel slightly offsetting an increase in prices for women's and girls' clothing.

Medical care costs rose 0.2 percent in November to a level 4.4 percent higher than a year ago. The index for medical care commodities-- prescription drugs, nonprescription drugs, and medical supplies--rose 0.1 percent. The index for medical care services rose 0.3 percent in November. Charges for professional services and for hospital and related services increased 0.3 and 0.4 percent, respectively.

The index for recreation rose 0.1 percent in November, the same as in October. Advances in the indexes for admissions to sporting events--up 1.4 percent--for club membership dues--up 0.6 percent--and for sporting goods--up 0.4 percent--were partially offset by declines in the indexes for video and audio--down 0.4 percent--and for photography--down 0.2 percent.

The index for education and communication increased 0.4 percent in November. Educational costs rose 0.6 percent, reflecting an increase in the index for educational books and supplies. The index for communication, which declined 0.9 percent in October, rose 0.1 percent in November. Within this category, the index for telephone services rose 0.3 percent, reflecting a 1.3 percent increase in long distance charges. Partially offsetting this increase was a 2.7 percent decline in the index for personal computers and peripheral equipment.

The index for other goods and services rose 0.1 percent in November. The index for personal care increased 0.2 percent, more than offsetting a 0.1 percent decrease in the index for tobacco and smoking products.

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 0.2 percent in November.

Consumer Price Index data for December are scheduled for release on Wednesday, January 19, 2005, at 8:30 A.M. (EST). Releases for the remainder of 2005:

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