Chicago Prices: Food, Energy Up Year-Over-Year

Consumers are, on average, paying less than they were this time last year for transportation and recreation, the Bureau of Labor Statistics says in May 2014 Chicago Consumer Price Index

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    NEWSLETTERS

    The price for food and energy -- two necessities you need to survive -- have risen more in metropolitan Chicago than the standard cost of living increase in the last 12 months, data released from the Bureau of Labor Statistics on Tuesday shows.

    The monthly BLS report categorizes consumer prices into three main categories: food, energy and an "other" category that includes such items as housing, medical care, recreation and education (without consideration for food and energy).

    In the Chicago metropolitan area, which the bureau defines as extending from Kenosha, Wisconsin to Gary, Indiana, the price for food rose 3.6 percent for the 12-month period ending May 2014. Overall energy prices were up 4 percent for the same period.

    Looking closer at food costs, the 3.6 percent is an average of two other indexes: food purchased in a grocery store (a 3.4 percent year-over-year increase) and food consumed while dining out of the home (a 4 percent year-over-year increase).

    In terms of energy, the price for piped gas spiked 35.3 percent and electricity costs went up 6.2 percent. Gasoline prices fell 6.2 percent, the report said.

    Among the indexes within the "other" category, prices were higher for housing (3.3 percent), clothing (3.3 percent) and education (2.4 percent).

    Consumers are paying less than they were this time last year for transportation and recreation, the BLS said.

    Nationally, the Consumer Price Index increased 2.1 percent in the last 12 months.

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