The Consumer Price Index for All Urban Consumers (CPI-U) in the Miami-Fort Lauderdale-West Palm Beach area declined by 0.2 percent from June to August, according to a report released by the U.S. Bureau of Labor Statistics. Regional Commissioner Victoria G. Lee stated that “the index for all items less food and energy fell 0.3 percent over the two-month period.” The energy index remained unchanged during this time, while the food index increased slightly by 0.1 percent.
Over the past year, the all items CPI-U rose 2.5 percent in the Miami area. The index for all items excluding food and energy saw a 2.4 percent increase during this period, while food prices went up by 4.8 percent and energy prices edged up by 0.2 percent.
From June to August, grocery store purchases (food at home) rose by 0.2 percent, with notable increases in nonalcoholic beverages and beverage materials (+4.0 percent) as well as dairy and related products (+3.1 percent). However, fruit and vegetable prices dropped by 3.8 percent over these two months, and restaurant or cafeteria meal prices (food away from home) did not change.
Looking at annual trends, four out of six major grocery store food group indexes increased over the last year, including other food at home (+11.8 percent) and meats, poultry, fish, and eggs (+7.1 percent). Food away from home costs climbed by 5.0 percent compared to last year.
The gasoline index showed little movement from June to August but fell sharply—by 9.1 percent—over the past twelve months.
Indexes outside of food and energy also experienced changes between June and August: household furnishings and operations dropped by 5.9 percent; apparel decreased by 5.4 percent; other goods and services were down by 2.5 percent; medical care dipped slightly (-0.6%). Meanwhile, shelter costs increased modestly (up 0.4%), with similar rises seen in owners’ equivalent rent and rent indexes.
Alcoholic beverages saw a significant price jump of 13.3% over two months; education and communication costs also rose (up 1.4%).
Over twelve months ending in August, shelter costs increased by three percent; both owners’ equivalent rent and rent indexes followed closely behind with gains just under three percent each.
The Bureau plans to release September’s Consumer Price Index on October 15th at 8:30 a.m., followed by October’s data on November 13th at the same time.
According to information provided alongside this release, local-area CPI figures like those for Miami are more volatile than national averages due to smaller sample sizes used in their calculation—a result of being derived as part of broader national programs rather than standalone surveys—and they are not adjusted for seasonal effects.
