Consumer Price Index, Miami Fort Lauderdale West Palm Beach — December 2024

Area prices rose 2.8 percent over the past 12 months

The Consumer Price Index for All Urban Consumers (CPI-U) for Miami-Fort Lauderdale-West Palm Beach declined 0.1 percent from October to December, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Victoria G. Lee noted that several indexes contributed to the bi-monthly all items index decrease, including household furnishings and operations, food at home, and gasoline. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.)

The all items CPI-U increased 2.8 percent for the 12 months ending in December. (See chart 1 and table A.) The index for all items less food and energy advanced 3.4 percent over the past year. The food index also increased over the last 12 months, up 3.2 percent. In contrast, the energy index fell 5.4 percent over the past year. (See table 1.)

Food

The food index declined 0.2 percent from October to December, reflecting a 1.6-percent fall in the food at home index. In contrast, the index for food away from home rose 3.0 percent over the bi-monthly period. Within the food at home index, four of the six major grocery store food group indexes declined over the bi-monthly period, most notable, fruits and vegetables (-4.8 percent) and cereals and bakery products (-5.9 percent).

The food index increased 3.2 percent for the 12 months ending in December. The food away home index rose 5.4 percent over the past 12 months, while the index for food at home increased 2.2 percent over the same period. Five of the six major grocery store food group indexes increased over the past year, including nonalcoholic beverages and beverage materials (+7.5 percent) and dairy and related products (+10.0 percent). In comparison, the index for meats, poultry, fish, and eggs declined 0.9 percent over the past 12 months.

Energy

The energy index declined 0.9 percent from October to December, reflecting a 1.9-pecent decline in the gasoline index. The electricity index rose 0.3 percent over the bi-monthly period, as did the natural gas index.

The energy index fell 5.4 percent for the 12 months ending in December, led by a 10.2 percent decline in the electricity index. The gasoline (-1.3 percent) and natural gas (-1.7 percent) indexes also declined over the past year.

All items less food and energy

The index for all items less food and energy was unchanged from October to December. The index for shelter increased 0.5 percent over the bi-monthly period. The indexes for owners' equivalent rent (+0.2 percent) and rent of primary residence (+0.5 percent) also increased from October to December. Other notable indexes to increase from October to December include education and communication (+0.8 percent) and medical care (+0.7 percent). Notable indexes to decline over the two-month period include household furnishing and operations (-3.0 percent) and apparel (-2.4 percent).

The index for all items less food and energy advanced 3.4 percent for the 12 months ending in December. The shelter index increased 4.5 percent over the last year and was the largest contributor to the total 12-month increase in the all items less food and energy index. The index for owners' equivalent rose 4.8 percent over the past 12 months, as did the index for rent of primary residence.

Month	2020		2021		2022		2023		2024
	2-month	12-month	2-month	12-month	2-month	12-month	2-month	12-month	2-month	12-month
February	0.4	1.4	0.8	1.4	2.8	9.3	2.1	9.2	1.4	4.9
April	-1.0	-0.5	1.6	4.1	1.5	9.1	1.4	9.0	1.0	4.5
June	0.7	0.7	1.6	5.1	2.5	10.1	0.5	6.9	-0.4	3.5
August	1.0	1.4	0.2	4.2	0.4	10.2	1.2	7.8	0.3	2.6
October	0.1	1.0	1.5	5.7	0.9	9.6	0.5	7.4	0.6	2.7
December	-0.2	1.1	1.2	7.1	1.4	9.9	-0.2	5.7	-0.1	2.8

The Miami-Fort Lauderdale-West Palm Beach Consumer Price Index for February 2025 is scheduled to be released on Wednesday, March 12, 2025, at 8:30 a.m. (ET).

Technical Note

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 Consumer Price Index for Miami is published bi-monthly. The set of components and sub-aggregates published for regional and metropolitan indexes is more limited than at the U.S. city average level; these indexes are byproducts of the national CPI program. Each local index has a much smaller sample size than the national or regional indexes and is, therefore, subject to substantially more sampling and other measurement error. As a result, local-area indexes are more volatile than the national or regional indexes. In addition, local indexes are not adjusted for seasonal influences. NOTE: Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Miami-Fort Lauderdale-West Palm Beach, FLCore Based Statistical Area is comprised of Broward County, Miami-Dade County, and Palm Beach County.

Refer to the national CPI news release technical note or the Handbook of Methods for more information.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.

Item and Group	Indexes			Percent change from-
	Oct. 2024	Nov. 2024	Dec. 2024	Dec. 2023	Oct. 2024	Nov. 2024
Expenditure category
All Items	350.300	-	350.098	2.8	-0.1	-
All items (November 1977=100)	564.635	-	564.310	-	-	-
Food and beverages	329.653	-	328.835	3.0	-0.2	-
Food	337.509	-	336.914	3.2	-0.2	-
Food at home	317.454	314.060	312.446	2.2	-1.6	-0.5
Cereals and bakery products	418.083	394.807	393.403	0.3	-5.9	-0.4
Meats, poultry, fish, and eggs	300.475	309.589	298.012	-0.9	-0.8	-3.7
Dairy and related products	262.920	252.181	269.930	10.0	2.7	7.0
Fruits and vegetables	365.668	361.548	348.146	0.5	-4.8	-3.7
Nonalcoholic beverages and beverage materials	325.370	327.973	328.489	7.5	1.0	0.2
Other food at home	266.160	258.745	263.998	2.0	-0.8	2.0
Food away from home	374.612	-	385.921	5.4	3.0	-
Alcoholic beverages	231.788	-	229.299	1.0	-1.1	-
Housing	397.677	-	398.607	3.1	0.2	-
Shelter	469.241	472.321	471.683	4.5	0.5	-0.1
Rent of primary residence	467.321	469.140	469.633	4.8	0.5	0.1
Owners' equiv. rent of residences	474.658	475.467	475.799	4.8	0.2	0.1
Owners' equiv. rent of primary residence	474.658	475.467	475.799	4.8	0.2	0.1
Fuels and utilities	215.065	-	216.678	-6.8	0.8	-
Household energy	183.603	184.080	184.151	-9.8	0.3	0.0
Energy services	180.060	180.562	180.571	-10.0	0.3	0.0
Electricity	176.064	176.561	176.561	-10.2	0.3	0.0
Utility (piped) gas service	229.945	230.274	230.702	-1.7	0.3	0.2
Household furnishings and operations	201.201	-	195.255	-2.1	-3.0	-
Apparel	164.631	-	160.727	-0.8	-2.4	-
Transportation	280.041	-	277.579	2.4	-0.9	-
Private transportation	288.170	-	286.731	1.2	-0.5	-
New and used motor vehicles	130.247	-	129.723	0.6	-0.4	-
New vehicles	278.691	-	279.885	-1.2	0.4	-
Used cars and trucks	369.399	-	372.017	-3.6	0.7	-
Motor fuel	279.723	277.207	274.469	-1.5	-1.9	-1.0
Gasoline (all types)	277.142	274.594	271.790	-1.3	-1.9	-1.0
Unleaded regular	272.713	270.335	267.518	-1.2	-1.9	-1.0
Unleaded midgrade	278.727	277.140	274.563	-1.6	-1.5	-0.9
Unleaded premium	302.020	298.233	295.550	-2.2	-2.1	-0.9
Medical Care	629.501	-	633.627	4.1	0.7	-
Recreation	140.158	-	139.667	2.2	-0.4	-
Education and communication	133.366	-	134.469	0.5	0.8	-
Tuition, other school fees, and child care	1,176.218	-	1,176.218	3.6	0.0	-
Other goods and services	489.502	-	488.676	4.6	-0.2	-
Commodity and service group
All Items	350.300	-	350.098	2.8	-0.1	-
Commodities	245.003	-	243.061	0.7	-0.8	-
Commodities less food & beverages	197.020	-	194.791	-0.7	-1.1	-
Nondurables less food & beverages	238.062	-	234.575	0.2	-1.5	-
Durables	155.351	-	154.033	-1.4	-0.8	-
Services	430.417	-	431.697	3.9	0.3	-
Special aggregate indexes
All items less medical care	337.944	-	337.605	2.8	-0.1	-
All items less shelter	288.048	-	286.618	1.6	-0.5	-
Commodities less food	198.880	-	196.636	-0.6	-1.1	-
Nondurables	286.019	-	283.831	1.8	-0.8	-
Nondurables less food	237.994	-	234.598	0.3	-1.4	-
Services less rent of shelter	383.426	-	383.052	2.7	-0.1	-
Services less medical care services	412.132	-	413.205	3.9	0.3	-
Energy	227.838	226.957	225.752	-5.4	-0.9	-0.5
All items less energy	363.731	-	363.713	3.4	0.0	-
All items less food and energy	367.850	-	367.919	3.4	0.0	-
- Data not available. NOTE: Index applies to a month as a whole, not to any specific date. Data not seasonally adjusted.

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