Consumer prices in the New York-Newark-Jersey City area rose 0.4% for the second consecutive month in July. Much of the July increase was attributed to higher prices for shelter.
Food prices were unchanged in July; prices for food at and away from home were flat. Groceries with higher July prices included carbonated drinks, while those with lower prices included soups and other fresh fruits.
Energy prices increased 1.1% over the month. The increase was primarily due to higher prices for household energy. Gasoline prices rose 0.9%.
Prices for all items less food and energy increased 0.4%. Shelter prices rose 0.4%, and new and used motor vehicles, a category that includes leased and rental vehicles, rose 2.8%. On the other hand, apparel prices fell 1.2%.
Over the year, the New York area’s CPI-U rose 3.2%. (See chart 1.) Food prices increased 3.5%. Energy prices fell 11.5%. Prices for all items less food and energy advanced 4.4%.
For the latest data from the Northeast CPI series, including New York and New England, see https://www.bls.gov/regions/northeast/cpi-summary/ro1xg01a.htm.
For the national CPI release, see https://www.bls.gov/news.release/pdf/cpi.pdf.
The New York area CPI news release will be available later today at: https://www.bls.gov/regions/northeast/.