PROVIDENCE – The consumer price index in the Northeast region of the United States increased 1.5% year over year in May, slower than the national city average CPI growth rate of 1.8%, according to the U.S. Bureau of Labor Statistics Wednesday.
In the Boston-Cambridge-Newton, Mass., metropolitan area, CPI increased 2.3% year over year on a not seasonally adjusted basis, higher than the national increase.
Price growth in the Northeast was offset by declines in fuels and utilities, apparel and gasoline.
Apparel CPI had the largest decline of any major category in the region year over year, falling 4.2%.
Fuels and utilities CPI declined 2% year over year in May, including a 1.7% decline in natural gas prices. However, the report noted that fuels and utilities CPI in the Boston-Cambridge-Newton, Mass., metro area increased 3.2% year over year in May including a utility piped gas service increase of 6.7% that time period.
Gasoline prices in the region dropped 1.4% year over year, according to the report.
Northeast CPI year-over-year changes in May:
- Food and beverages increased 1.5%
- Housing increased 1.7%
- Medical care increased 3.2%
- Recreation increased 2.2%
- Education and communication increased 2.1%
- Transportation increased 0.3%
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.