Consumer Price Index, Midwest Region – November 2024

KANSAS CITY — Prices in the Midwest Region, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), were down 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. The November decrease was driven by a 3.1 percent decline in the energy index, with gasoline prices contributing most to the fall. The index for all items less food and energy and the index for food both rose 0.1 percent over the month. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

 

Over the last 12 months, the CPI-U advanced 2.6 percent. (See chart 1.) The index for all items less food and energy rose 3.2 percent over the year, and food prices advanced 2.4 percent. Energy prices declined 3.4 percent, led by a decrease in the index for gasoline.

 

 

Food

Food prices increased 0.1 percent for the month of November. The index for food at home (grocery store prices) advanced 0.1 percent, and the index for food away from home (restaurant, cafeteria, and vending purchases) were unchanged for the same period. Within the food at home category, the index for meats, poultry, fish, and eggs drove almost all of the rise, advancing 1.2 percent.

 

Over the year, food prices advanced 2.4 percent. The index for food at home increased 2.1 percent since a year ago, and the index for food away from home increased 2.9 percent. Meats, poultry, fish, and eggs (+3.4 percent) and nonalcoholic beverages and beverage materials (+5.3 percent) contributed most to the over-the-year-increase.

 

Energy

The energy index fell 3.1 percent over the month. The decrease was largely due to lower prices for gasoline (-5.0 percent), but prices paid for electricity also contributed (-2.8 percent). Prices for natural gas service rose 2.2 percent over the same period.

 

From November 2023 to November 2024, energy index declined -3.4 percent, almost entirely due to lower prices for gasoline (-7.9 percent). The indexes for natural gas service (+2.8 percent) and electricity (+0.7 percent) both rose during the past year.

 

All items less food and energy

The index for all items less food and energy increased 0.1 percent in November. Higher prices were led by increases in the indexes for owners’ equivalent rent of residences (+0.4 percent), recreation (+0.5 percent), and rent of primary residences (+0.5 percent). Declines almost entirely offset gains; notable index decreases included apparel (-4.3 percent) and education and communication (-0.6 percent).

 

Over the year, the index for all items less food and energy rose 3.2 percent. Components contributing most to the increase included shelter (+5.6 percent) and medical care services (+2.6 percent). Declining prices for new and used motor vehicles (-3.0 percent) slightly offset the rise.