Denver MSA’s CPI sees increase for last half of 2014

Posted by Tom Kalinski Founder RE/MAX of Boulder on Sunday, March 15th, 2015 at 12:50pm.

The Denver-Boulder-Greeley metropolitan statistical area Consumer Price Index for All Urban Consumers increased 2.7 percent from the second half of 2013 to the second half of 2014, according to the U.S. Bureau of Labor Statistics.

The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Denver-Boulder-Greeley MSA includes Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson and Weld counties.

Regional Commissioner Stanley W. Suchman notes that higher costs for shelter – 5.1 percent – were largely responsible for the overall increase. Costs for energy were up 0.3 percent, food prices rose 3.3 percent, and the all items less food and energy index advanced 2.9 percent.

The index for food at home increased 3.5 percent and costs for food away from home were 3.8 percent higher over the year, compared with the second half of 2012 to the second half of 2013, during which prices for food at home were down 0.2 percent while costs for food away from home rose 0.7 percent.

The minimal increase in the energy index, which includes motor fuel and household fuels, followed a gain of 3.2 percent in the same period one year ago. Higher prices for electricity (3.8 percent) and utility (piped) gas service (5.8 percent) contributed to the increase, according to the bureau. During the same period one year ago, these indexes rose 8.5 and 25.8 percent, respectively. The rise in the energy index was moderated by lower motor fuel costs (-3.1 percent) from the second half of 2013 to the second half of 2014, with all of the decline in motor fuel prices occurring in the most recent six months of the period.

Shelter costs had the greatest upward impact on the index for all items besides food and energy, with the increase topping the 4.9 percent rise in the same period one year ago.

The Denver CPI-U stood at 238.664 for the second half of 2014, which means that a market basket of goods and services that cost $100 during the 1982-84 base period cost $238.66 during the second half of 2014.

The Consumer Price Index for Urban Wage Earners and Clerical Workers for the Denver-Boulder-Greeley MSA for the second half of 2014 was 229.076, an increase of 2.7 percent from the second half of 2013 to the second half of 2014.

 

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder
303-441-5620
tomkalinski33@gmail.com

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