Consumer prices in the South region rose slightly in July, according to data released by the U.S. Bureau of Labor Statistics. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent during the month. Excluding food and energy, the index also rose 0.1 percent.
Food prices in the region climbed 0.3 percent in July, with both grocery store and restaurant purchases seeing similar increases. Within grocery store categories, meats, poultry, fish, and eggs posted a 1.0 percent rise.
Energy costs edged up 0.1 percent over the month. The natural gas index increased by 0.5 percent while electricity and gasoline prices remained unchanged.
Over the past year, consumer prices in the South have risen 2.3 percent—the same rate as reported for June’s annual change. Prices excluding food and energy grew by 2.8 percent over this period.
The food index is up 2.8 percent compared to July last year; food away from home rose by 3.9 percent and food at home increased by 2.0 percent annually.
Energy costs have declined overall by 3.4 percent since last July, with gasoline dropping sharply by 11.6 percent over twelve months. However, electricity prices have gone up by 5.2 percent and natural gas has risen by 10.5 percent year-over-year.
Shelter costs saw a modest monthly increase of 0.2 percent in July—driven partly by a rise of 0.3 percent in owners’ equivalent rent—and are up 3.4 percent over the past year.
Used cars and trucks experienced a price increase of 0.8 percent during July, while apparel registered a decline of 1.8 percent for the month.
The next release of Consumer Price Index data for August is scheduled for September 11, at 8:30 a.m., Eastern Time.
According to BLS documentation, the CPI measures average changes in prices paid over time for a fixed basket of goods and services in urban areas across specific regions such as Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia (https://www.bls.gov/regions/southeast/news-release/consumerpriceindex_south.htm). Regional indexes are more limited than national averages but provide insight into local economic trends.
For further technical details on how these statistics are calculated or information about data accessibility options for individuals with sensory impairments can be found through BLS resources or via their official contact channels.
