April 2012 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) was unchanged in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.

The energy index, which had risen in each of the three previous months, declined in April on a seasonally adjusted basis and offset increases in the other major indexes. The gasoline index fell 2.6 percent in April and accounted for most of the decline in energy, though the indexes for natural gas and fuel oil decreased as well. The food index rose in April as five of the six major grocery store food group indexes increased.

The index for all items less food and energy rose 0.2 percent in April, the same increase as in March. Increases in the indexes for shelter, used cars and trucks, medical care, airline fares, new vehicles, and apparel all contributed significantly to the April increase.

The 12-month change in the index for all items was 2.3 percent in April, the lowest figure since February 2011. The index for all items less food and energy also increased 2.3 percent over the last 12 months. This is the first time since October 2009 that the 12-month all items change has not exceeded the 12-month change for all items less food and energy. The food index has risen 3.1 percent over the last 12 months, and the energy index has risen 0.9 percent.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Oct. Nov. Dec. Jan. Feb. Mar. Apr. ended 2011 2011 2011 2012 2012 2012 2012 Apr. 2012

Consumer Price Index Data for April 2012

Food

The food index rose 0.2 percent in April, the same increase as in March. The index for food at home, up 0.1 percent in March, increased 0.2 percent in April. Five of the six major grocery store food group indexes rose in April. The index for fruits and vegetables posted the largest increase, rising 1.0 percent in April after a series of declines. The index for cereals and bakery products rose 0.4 percent in April after declining in March. The index for nonalcoholic beverages rose 0.2 percent, and the indexes for meats, poultry, fish, and eggs and for other food at home both rose 0.1 percent. In contrast, the index for dairy and related products fell 1.0 percent in April, its third consecutive decline. Over the last 12 months, the food at home index has increased 3.3 percent. Five of the six food groups have risen over that time; despite the April increase the fruits and vegetables group is the only one to decline over the last 12 months, falling 1.7 percent. The index for food away from home rose 0.3 percent in April and has increased 2.9 percent over the last 12 months.

Energy

The energy index, which rose 0.9 percent in March, declined 1.7 percent in April. The gasoline index fell 2.6 percent in April after rising sharply over the first three months of the year. (Before seasonal adjustment, gasoline prices increased 1.8 percent in April.) The fuel oil index also declined in April, falling 1.1 percent. The energy services index declined slightly in April, falling 0.2 percent. The index for electricity rose 0.2 percent after falling in March, but the index for natural gas declined 1.8 percent, its sixth decline in seven months. Over the last 12 months, the gasoline index has risen 3.2 percent, the fuel oil index has increased 0.9 percent and the index for electricity has advanced 0.6 percent. In contrast, the index for natural gas has declined 11.6 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in April after a 0.1 percent increase in February and a 0.2 percent increase in March. The index for shelter increased 0.2 percent for the seventh month in a row, with rent and owners' equivalent rent both rising 0.2 percent. The index for medical care increased 0.3 percent, with the index for hospital services rising 0.6 percent. The index for used cars and trucks increased sharply for the second straight month, rising 1.5 percent in April after a 1.3 percent increase in March. The index for airline fares also rose significantly in April, advancing 2.1 percent. The new vehicles index rose 0.4 percent, as did the index for apparel. The indexes for tobacco, alcoholic beverages, and personal care each increased slightly. The index for household furnishings and operations was unchanged in April, while the index for recreation fell 0.1 percent as the indexes for video and audio products and for toys both declined notably.

The index for all items less food and energy has risen 2.3 percent over the last 12 months, the same figure as last month and the sixth month in a row it has been either 2.2 or 2.3 percent. The index for shelter has risen 2.2 percent over the period, as has the index for new vehicles. The apparel index has risen 5.1 percent, the largest 12- month increase since January 1991, while the index for medical care has risen 3.4 percent.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.3 percent over the last 12 months to an index level of 230.085 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 227.012 (1982-84=100). For the month, the index increased 0.3 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.1 percent over the last 12 months. For the month, the index increased 0.3 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2010 period are subject to revision.

Redesigning the Consumer Price Index (CPI) Press Release Tables

The format of the tables contained in the CPI news release changed beginning with the CPI news release for March, 2012. News release tables are part of the news release pdf and html files, and are available independently in html format. The new tables are also available in XLS format. In addition, the BLS has begun issuing monthly companion XLS files, which will contain additional index level and CPI-W information.

These tables were made available for public comment during October 2011. In response to the public comments, the BLS will issue XLS files each month, as companions to the news release. There will be CPI-U and CPI-W files, and in addition to the data contained in the news release tables, the Excel files will contain index values.

In August 2009, the Bureau of Labor Statistics (BLS) restructured the text of the CPI news release to focus on the price movements of three broad expenditure categories, namely Food, Energy, and All items less food and energy. Table A within the CPI news release text was also updated in August 2009 to reflect this new structure. Before August 2009, the text of the CPI news release had focused on eight CPI `major groups' (Food and beverages; Housing; Apparel; Transportation; Medical care; Recreation; Education and communication; and Other goods and services).

While the text of the CPI news release was restructured in 2009, seven additional CPI news release tables continued to be published using the eight major groups. BLS has redesigned these news release tables, to reflect the focus on Food, Energy, and All items less food and energy. Within these three broad categories, CPI item series are further divided into commodities and services.

Beyond the redesign in the structure of the CPI news release tables, several other improvements to these tables have been made.

The new Table 1 gives a summary of the index series which typically contribute to changes in the Consumer Price Index for All Urban Consumers (CPI-U).

The new Table 2 shows the full publication stub using the new structure for the CPI-U, including 11 new items series that were created to augment the redesign in the publication structure. Table 3 shows aggregate item series (e.g., Transportation) that do not fall under the Food, Energy, and All items less food and energy structure.

Second, standard errors for percent changes are shown on tables 6 and 7. Confidence intervals for statistics can be created using standard errors; e.g., roughly 95 percent confidence intervals can be constructed using two standard errors. For example, if an item increased 3.7 percent, and its standard error was 0.6 percent, the 95 percent confidence interval for that price change can be said to be 3.7 percent plus or minus two standard errors, or 3.7 percent plus or minus 1.2 percent.

Finally, each item series in tables 6 and 7 show the last time that item had a price change as large (or as small) as the percent change published that period. For example, if bananas rose 3.7 percent, and that was its largest increase since November 2007, that would be noted in the new tables.

In addition, most of the previous tables showed the `relative importance', or weight, of each item category as of the previous December. The relative importance columns in the new tables are improved in that they are updated monthly to reflect the change in relative prices over time.

Finally, there are no longer any news release tables that focus on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI- W). That said, the CPI-W All items index level and percent changes will still be noted in the text of the news release, and a companion XLS file with CPI-W information will be available.

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