March 2013 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) decreased 0.2 percent in March on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.5 percent before seasonal adjustment.

The all items seasonally adjusted decrease was primarily due to a 4.4 percent decline in the gasoline index. The indexes for electricity and fuel oil declined as well, as the energy index fell 2.6 percent in March after a 5.4 percent increase in February. The food index was unchanged in March, with the index for food at home declining slightly.

The index for all items less food and energy increased 0.1 percent in March, after a 0.2 percent increase in February. The indexes for shelter, used cars and trucks, medical care, personal care, and airline fares all rose in March. These increases more than offset declines in the indexes for apparel, household furnishings and operations, and tobacco.

The all items index increased 1.5 percent over the last 12 months; this compares to 2.0 percent last month and is the smallest increase since the 12 months ending July 2012. The index for all items less food and energy increased 1.9 percent over the last 12 months. The food index rose 1.5 percent while the energy index declined 1.6 percent.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Sep. Oct. Nov. Dec. Jan. Feb. Mar. ended 2012 2012 2012 2012 2013 2013 2013 Mar. 2013

Consumer Price Index Data for March 2013

Food

The food index was unchanged in March as a 0.2 percent increase in the index for food away from home offset a 0.1 percent decline in the food at home index. Within food at home, three of the six major grocery store food group indexes declined. The dairy group posted the largest decrease, falling 0.6 percent after a 0.4 percent decline in February. The fruits and vegetables index fell 0.4 percent in March after rising in February, and the index for nonalcoholic beverages declined 0.2 percent. The index for meats, poultry, fish, and eggs was unchanged in March after rising 0.5 percent the previous month. The indexes for cereals and bakery products and for other food at home both increased 0.2 percent in March. Over the last 12 months, the food at home index has risen 1.0 percent. The fruits and vegetables index rose 4.4 percent over that span, the largest increase among the food groups, while the indexes for dairy and related products and for nonalcoholic beverages both declined. The index for food away from home has risen 2.3 percent over the past year.

Energy

The energy index turned down in March, falling 2.6 percent after a sharp February increase. The gasoline index, which rose 9.1 percent in February, fell 4.4 percent in March. (Before seasonal adjustment, gasoline prices increased 1.4 percent in March.) The index for fuel oil also turned down, falling 2.1 percent in March after rising 3.1 percent in February. The electricity index fell 0.6 percent after a 0.3 percent February increase. In contrast to these declines, the index for natural gas increased 1.0 percent, its fourth increase in the last five months. Over the past 12 months, the indexes for gasoline and fuel oil have declined; gasoline by 3.1 percent and fuel oil by 2.4 percent. The indexes for natural gas and electricity have risen; natural gas by 1.8 percent and electricity by 0.9 percent.

All items less food and energy

The index for all items less food and energy increased 0.1 percent in March following increases of 0.3 percent in January and 0.2 percent in February. The shelter index increased 0.2 percent for the third month in a row. The rent index rose 0.2 percent while the index for owners' equivalent rent advanced 0.1 percent. The index for used cars and trucks rose 1.2 percent in March following a 0.8 percent increase in February. The index for medical care rose 0.3 percent in March, its largest increase since July 2012. The index for airline fares turned up in March, rising 0.6 percent after declining 0.3 percent in February. The personal care index also rose in March, increasing 0.2 percent, while the index for new vehicles increased 0.1 percent. Several indexes declined in March, most notably apparel, which fell 1.0 percent, its largest decline since April 2001. The index for household furnishings and operations fell 0.3 percent, its third decline in four months, while the tobacco index decreased 0.2 percent. The recreation index, which increased in January and February, declined 0.1 percent in March.

The index for all items less food and energy increased 1.9 percent for the 12 months ending March. Component indexes rising more quickly than this include airline fare (3.8 percent), medical care (3.1 percent), and shelter (2.2 percent). Among those indexes rising more slowly are new vehicles (1.1 percent), apparel (0.8 percent), and used cars and trucks (0.1 percent). The index for household furnishings and operations declined 0.6 percent over the span.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.5 percent over the last 12 months to an index level of 232.773 (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 1.3 percent over the last 12 months to an index level of 229.323 (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 1.4 percent over the last 12 months. For the month, the index increased 0.2 percent on a not seasonally adjusted basis. Please note that the indexes for the post-2011 period are subject to revision.

Discontinuation of Department Store Inventory Indexes

The Bureau of Labor Statistics will discontinue publication of its Department Store Inventory indexes after the release of the December 2013 CPI in mid-January 2014, and these values will no longer be uploaded to the Labstat database. For further information please contact Sharon Gibson at 202-691-6968 or gibson.sharon@bls.gov.

Publication Changes for Average Price Series

The Bureau of Labor Statistics will discontinue publication of three average price series after the release of the June 2013 CPI in mid- July 2013. They are:

- utility (piped) gas, 40 therms; - utility (piped) gas, 100 therms; and - electricity, 500 kilowatt hours.

The Bureau will, however, continue to publish average prices for utility (piped) gas on a per therm basis, and will continue to publish electricity prices on a per kilowatt hour basis. As such, users will be able to convert these data to any consumption amount. CPI Detailed Report table P1. Average residential prices for utility (piped) gas, electricity, and fuel oil, U.S. city average and selected areas will no longer be published. Data for fuel oil #2, per gallon (3.785 liters) will continue to be available in the CPI Average Price Data public database.

Facilities for Sensory Impaired

Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.