February 2005 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 0.6 percent in February, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The February level of 191.8 (1982-84=100) was 3.0 percent higher than in February 2004.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.5 percent in February, prior to seasonal adjustment. The February level of 187.3 (1982-84=100) was 3.0 percent higher than in February 2004.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.5 percent in February on a not seasonally adjusted basis. The February level of 111.7 (December 1999=100) was 2.6 percent higher than in February 2004. Please note that the indexes for the post-2003 period are subject to revision.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U advanced 0.4 percent in February, following a 0.1 percent increase in January. The energy index, which registered substantial declines in the preceding two months, increased 2.0 percent in February, accounting for virtually all the acceleration in the overall CPI-U. Within energy, the index for petroleum- based energy increased 3.1 percent and the index for energy services rose 0.8 percent. The food index increased 0.1 percent in February, the same as in January. A 0.2 percent decrease in the index for food at home was more than offset by a 0.3 percent increase in the index for food away from home. The index for all items less food and energy, which increased 0.2 percent in each of the preceding four months, advanced 0.3 percent in February. Larger increases in the indexes for shelter and medical care more than offset a smaller rise in the index for new vehicles and a decline in the index for apparel.

The food and beverages index rose 0.1 percent in February. The index for food at home decreased for the third consecutive month--down 0.2 percent in February. Four of the six major grocery store food groups registered declines in February. The index for fruits and vegetables declined for the third consecutive month--down 0.7 percent in February. Within the fruits and vegetables group, the index for fresh fruits declined 1.7 percent while the index for fresh vegetables rose 0.3 percent. (Prior to seasonal adjustment, fresh fruit and fresh vegetable prices declined 5.2 and 2.9 percent, respectively.) The index for processed fruits and vegetables decreased 0.6 percent. The index for dairy products, which turned up in January after declining in each of the preceding six months, declined 0.8 percent in February. Prices for fresh whole milk, for cheese, and for ice cream each declined. The indexes for other food at home and for nonalcoholic beverages declined 0.2 and 0.1 percent, respectively. The index for meats, poultry, fish, and eggs increased 0.3 percent in February. Price increases for beef and for pork- -up 1.5 and 0.4 percent, respectively--were partially offset by price declines for poultry and for fish and seafood--down 1.0 and 1.3 percent, respectively. The index for cereals and bakery products rose 0.1 percent. The other two components of the food and beverages index--food away from home and alcoholic beverages--increased 0.3 and 0.5 percent, respectively.

The index for housing increased 0.4 percent in February, following a 0.1 percent rise in January. The index for shelter increased 0.3 percent in February after advancing 0.2 percent in each of the preceding two months. Within shelter, the indexes for rent and for owners' equivalent rent each increased 0.2 percent, and the index for lodging away from home rose 1.1 percent. (Prior to seasonal adjustment, the index for lodging away from home increased 5.1 percent.) The index for fuels and utilities, which declined 0.1 percent in January, increased 0.8 percent in February. The index for fuel oil, which declined sharply in each of the preceding two months, rose 2.4 percent in February. The index for energy services rose 0.8 percent, as a 2.5 percent increase in the index for natural gas more than offset a 0.1 percent decrease in the index for electricity. (Prior to seasonal adjustment, prices for fuel oil rose 5.6 percent and charges for electricity rose 0.1 percent, while charges for natural gas declined 3.0 percent.) The index for household furnishings and operations, which rose 0.1 percent in January, declined 0.2 percent in February, reflecting price declines for window coverings and for furniture and bedding.

The transportation index, which declined in each of the preceding two months, turned up in February, reflecting a 3.2 percent increase in the index for motor fuel. Gasoline prices, which had declined in six of the last seven months, rose 5.0 percent in February to a level 5.4 percent below their peak level of June 2004. The index for new vehicles increased for the fifth consecutive month--up 0.1 percent in February. (As of February, about 85 percent of the new vehicle sample was represented by 2005 models. The 2005 models will continue to be phased in, with appropriate adjustments for quality change, over the next several months as they replace old models at dealerships.) The index for used cars and trucks increased 0.1 percent in February. The index for public transportation turned up in February, as a 1.5 percent increase in airline fares more than offset a decline in the index for other intercity transportation.

The index for apparel fell 0.2 percent in February, following a 0.3 percent increase in January. (Prior to seasonal adjustment, apparel prices rose 2.2 percent, reflecting the introduction of spring-summer wear. Prices for women's apparel registered the largest advance--up 4.5 percent.)

Medical care costs rose 0.6 percent in February and are 4.3 percent higher than a year ago. The index for medical care commodities-- prescription drugs, nonprescription drugs, and medical supplies--increased 0.4 percent. The index for medical care services rose 0.6 percent in February. The indexes for professional services and for hospital and related services each increased 0.7 percent.

The index for recreation decreased 0.2 percent in February, largely reflecting a 0.5 percent decline in the index for video and audio. Prices for televisions declined 1.1 percent in February and are 11.7 percent lower than a year ago.

The index for education and communication increased 0.3 percent in February. Educational costs increased 0.5 percent, while communication costs were unchanged. Within the latter group, an increase in the index for telephone services--up 0.3 percent, reflecting an increase in charges for local calls--was offset by declines in the indexes for personal computers and peripheral equipment, for computer software and accessories, for internet services, for telephone hardware, calculators, and other consumer information items, and for delivery services.

The index for other goods and services increased 0.3 percent in February. The index for tobacco and smoking products rose 0.4 percent, following a 1.9 percent increase in January.

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 0.4 percent in February.

Consumer Price Index data for March are scheduled for release on Wednesday, April 20, 2005, at 8:30 A.M. (EDT).

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