PROVIDENCE – The consumer price index in the Northeast increased by 3.9% in May year over year, slower than the national growth rate of 5% at that time, according to the Bureau of Labor Statistics Thursday.
Price increases both regionally and nationally were driven by energy price increases, as well as transportation prices. Northeast CPI growth was offset by a decline in recreation prices.
- Food prices in the region increased 1.3% year over year, slower than the national growth rate of 2.1%.
- Housing costs in the Northeast rose 2.8% year over year, generally in line with national growth of 2.9%
- Apparel costs in the Northeast rose by 6.2% from one year prior, faster than the national growth rate of 5.6%.
- Transportation costs in the region increased 17.1% year over year, both due to rising motor fuel costs, as well as the cost of private transportation. Nationally, transportation costs at large had increased 20% year over year.
- Medical care in the region remained relatively flat, rising 0.3% year over year, slower than a national growth rate of 0.9%.
- Recreation costs in the Northeast declined 2.4% year over year, compared with 1.6% growth nationally.
- Energy costs in the region rose 22.7% year over year, while rising 28.5% in that time nationally.
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