Printer Friendly

PHILADELPHIA AREA CONSUMER PRICES LOWER IN FEBRUARY

 PHILADELPHIA AREA CONSUMER PRICES LOWER IN FEBRUARY
 PHILADELPHIA, March 17 /PRNewswire/ -- Philadelphia area consumer prices declined 0.1 percent in February after remaining stable in January, the Bureau of Labor Statistics announced today.
 Alan M. Paisner, the bureau's regional commissioner, noted that lower prices for apparel, transportation, and entertainment were nearly offset by increases in the other four major expenditure categories, resulting in the first one-month decline in local retail prices since October 1991. The Consumer Price Index for All Urban Consumers (CPI-U) rose 2.6 percent since last February and at an annual rate of 2.5 percent over the last three months. (See table A.)
 Apparel prices declined for the second month in a row as somewhat delayed seasonal drops were observed. The latest decline, which brought the overall index 2.5 percent below its year-ago level, was mainly due to sharply lower prices for women's and girls' apparel -- down almost 12 percent since January.
 In the other four cities prices monthly by the bureau, prices rose 0.2 percent in Chicago, 0.4 percent in Los Angeles, and 0.5 percent in New York and San Francisco.
 Transportation prices were down 0.4 percent over the month as a 3.2 percent drop in motor fuel prices was partially offset by increases in other components. Over the last 12 months, declines in both motor fuel and public transportation helped moderate the rise in the overall transportation index -- up 2.4 percent. Entertainment prices have been quite volatile during the last year; February's 0.1 percent decline was the fifth drop in the last 12 months. Despite those declines, entertainment prices were 4.5 percent higher over the year, the largest 12-month increase displayed by any major category but medical care.
 The other goods and services index rose 0.7 percent since January -- the largest monthly increase in 6 months -- and 3.2 percent since last February. This category includes tobacco and smoking products, personal care goods and services, consumer professional services, and educational expenses.
 Food and beverage prices were also up in February as the other food at home group increased 2.5 percent since January, mainly due to an increase in the price of carbonated beverages. Other food at home includes prepared foods and sugar and sweets, fats and oils, and nonalcoholic beverages. Produce prices were also up, but declining prices for meats, poultry, fish, and eggs and cereals and bakery products kept the over-the-month increase to 0.3 percent for the overall food and beverages category. Food and beverages prices were only 0.9 percent higher than a year ago.
 Although the 3.2 percent increase in the housing index accounted for more than half of the all items increase over the last year, February's rise was a moderate 0.1 percent. Increases in shelter and household fuels and other utilities were moderated by a 1 percent drop in household furnishings and operation. Natural gas prices increased 1.5 percent in February after a 2.1 percent advance in January. Those increases notwithstanding, natural gas prices were only 1.1 percent higher than a year ago.
 Medical care prices were up 0.4 percent in February and 5.8 percent over the last 12 months. This marked the lowest 12-month increase in the category in over 4 years. Most of the latest increase was due to higher prices for prescription drugs. Despite the recent moderation, medical care still had the largest over-the-year percent increase among the seven major expenditure categories and accounted for 12 percent of the all items increase for the last 12 months.
 The energy index declined for the third consecutive month, down 0.9 percent, and was one-half percent lower than a year ago.
 The CPI-U stood at 144.2 on the 1982-84-100 reference base, which means that a market basket of goods and services that cost $100 in 1982-84 would have cost $144.20 in February. The local Urban Wage Earners and Clerical Workers Index (CPI-W) decreased 0.2 percent last month and stood at 143.9 on the 1982-84 base.
 The Philadelphia-Wilmington-Trenton, PA-DE-NJ-MD area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia counties in Pennsylvania; Burlington, Camden, Cumberland, Gloucester, Mercer, and Salem counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland. Table A: Percent change in the CPI for All Urban Consumers (CPI-U) in Philadelphia (not seasonally adjusted).
 Change from preceding Compound Change for
 month to annual rate 12 months
 Expenditure Dec. Jan. Feb. 3 months ended ended
 category 1991 1992 1992 Feb. 1992 Feb. 1992
 All items 0.8 0.0 -0.1 2.5 2.6
 Food & beverages 0.0 0.7 0.3 3.9 0.9
 Housing 1.5 0.5 0.1 8.5 3.2
 Apparel & upkeep 0.2 -3.4 -4.2 -26.1 -2.5
 Transportation 0.3 -0.4 -0.4 -2.1 2.4
 Medical care 0.6 -0.8 0.4 0.4 5.8
 Entertainment -1.1 0.5 -0.1 -2.5 4.5
 Other goods & services 0.4 -0.2 0.7 3.6 3.2
 Special index:
 Energy -0.4 -0.8 -0.9 -8.3 -0.5
 /delval/
 -0- 3/17/92
 /CONTACT: Maureen Greene (information), 215-596-1157, or Alan Paisner (media), 215-596-1151, U.S. Department of Labor, Bureau of Labor Statistics/ CO: U.S. Department of Labor, Bureau of Labor Statistics ST: Pennsylvania IN: HOU SU: ECO


MP -- PH004 -- 8660 03/17/92 09:16 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 17, 1992
Words:916
Previous Article:GENSIA ADOPTS STOCKHOLDER RIGHTS PLAN; APPOINTS CARL BOBKOSKI TO BOARD
Next Article:FOURTH ANNUAL KLEENEX SAYS BLESS YOU AWARDS TO BE HELD IN WASHINGTON
Topics:


Related Articles
PHILADELPHIA CONSUMER PRICES UNCHANGED IN JANUARY
MORE EXPENSIVE PRODUCE PUSHES LOCAL GROCERY PRICES UP: ENERGY PRICES DOWN SLIGHTLY IN BALTIMORE AREA
PITTSBURGH AREA RETAIL PRICES FALL 0.1 PERCENT SINCE DECEMBER; RISE 3.9 PERCENT OVER THE YEAR
PHILADELPHIA JOBLESS RATE UP TO 7.2 PERCENT IN FEBRUARY
OVERALL PHILADELPHIA AREA PRICES EDGED DOWN ALTHOUGH MANY ITEMS INCREASED IN PRICE
Energy crunch bringing new business to Philadelphia.
'Think Big, Be Fair, and Focus on the Little Things'.
Start Your Engines!! 2004 Philadelphia International Auto Show Tickets Now Available for Purchase; --Purchase Tickets Online for the First Time--.
21 Restaurants to Compete in Girl Scouts Dessert Contest Thurs., January 15.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters