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U.S. Consumer Price Index - September 2004

U.S. Consumer Price Index - September 2004

From The Bureau of Labor Statistics, for About.com

The food and beverages index was unchanged in September. The index for food at home decreased 0.2 percent, the same as in August. The index for dairy products declined for the third consecutive month, down 2.0 percent in September. Milk prices also declined for the third consecutive month--down 3.4 percent in September--but were 8.7 percent higher than in September 2003. Also contributing to the decrease in the food at home index were declines in the indexes for other food at home and for meats, poultry, fish, and eggs--down 0.5 and 0.3 percent, respectively. Within the latter index, declines in prices for eggs, for beef, and for poultry more than offset price increases for pork and for fish and seafood. The index for fruits and vegetables increased 0.7 percent. The indexes for fresh fruits and for fresh vegetables rose 0.6 and 1.5 percent, respectively, while the index for processed fruits and vegetables fell 0.5 percent. The two other major grocery store food groups—nonalcoholic beverages and cereals and bakery products--rose 0.3 and 0.1 percent, respectively. The other two components of the food and beverage index--food away from home and alcoholic beverages--increased 0.3 and 0.5 percent, respectively.

The index for housing rose 0.2 percent in September, the same as in each of the preceding two months. Shelter costs, which increased 0.1 percent in August, advanced 0.4 percent in September. The index for lodging away from home increased 2.9 percent in September, following a 1.7 percent decrease in August. The indexes for rent and owners' equivalent rent each increased 0.1 percent after advancing 0.3 percent in August. The index for fuels and utilities fell 0.5 percent in September. The index for fuel oil rose 2.1 percent in September and was 29.0 percent higher than a year earlier. The index for electricity was unchanged, while the index for natural gas decreased 3.1 percent. During the last 12 months, these indexes have advanced 1.6 and 6.2 percent, respectively. The index for household furnishings and operations was unchanged in September, following declines in the preceding two months.

The transportation index rose 0.2 percent in September, following declines in each of the preceding two months. The index for gasoline, which declined in July and August, increased 0.1 percent in September. (Prior to seasonal adjustment, gasoline prices fell 0.4 percent in September.) The index for used cars and trucks advanced for the third consecutive month--up 2.0 percent in September. Despite the recent advances, used car and truck prices are 1.8 percent lower than a year ago. Partially offsetting these increases, the index for new vehicles declined 0.2 percent in September. (About 17 percent of the new car sample in September was represented by 2005 models.) New vehicle prices are 1.1 percent lower than in September 2003. The index for public transportation decreased 1.1 percent, reflecting a 1.6 percent decline in airline fares.

The index for apparel, which declined in each of the preceding two months, was unchanged in September. (Prior to seasonal adjustment, apparel prices rose 4.0 percent, reflecting the introduction of fall-winter wear. The proportion of fall-winter clothing introduced in this September was about the same as in recent years.)

Medical care costs rose 0.3 percent in September to a level 4.4 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 0.3 percent in September. Charges for professional services and for hospital and related services increased 0.1 and 0.6 percent, respectively.

The index for recreation turned up in September, advancing 0.2 percent after registering declines of the same magnitude in July and August. Increases in the indexes for cable and satellite television and radio services and for admissions to movies, theaters, concerts, and sporting events--up 0.6 and 0.8 percent, respectively--were largely responsible for the September increase.

The index for education and communication increased 0.4 percent in September. Educational costs rose 0.6 percent, reflecting increases in the indexes for college tuition and for elementary and high school tuition--up 0.8 and 0.9 percent, respectively. (Prior to seasonal adjustment, charges for college tuition and fees rose 2.9 percent in September and were 8.9 percent higher than a year ago.) The index for communication costs increased 0.3 percent. The index for telephone services rose 0.3 percent, reflecting a 1.9 percent increase in long distance charges. The index for personal computers and peripheral equipment declined 0.7 percent.

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