The U.S. Bureau of Labor Statistics has released its report on the Consumer Price Index (CPI) for the West Region, detailing the price changes for January 2024.

The CPI, which measures the average change over time in the prices paid by urban consumers for a basket of goods and services, saw a notable increase in the region.

Monthly Changes

As measured by the CPI-U, prices in the West Region advanced by 0.7 percent in January.

Higher prices for shelter primarily influenced this increase.

It's important to note that the data in this report are not seasonally adjusted, meaning that month-to-month changes may reflect seasonal influences.

Food Prices

Food prices in the West Region advanced by 0.8 percent in January, with prices for food at home leading the increase.

Over the year, food prices saw a 2.9 percent increase, with notable rises in food prices away from home.

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Energy Costs

The energy index experienced a slight decrease of 0.3 percent in January, primarily due to lower gasoline prices.

However, prices for electricity and natural gas services saw increases.

Over the year, energy prices fell by 0.9 percent, mainly due to lower natural gas service prices.

All Items Less Food and Energy

The index for all items less food and energy rose by 0.7 percent in January.

Lower prices for used cars and trucks partially offset higher prices for recreation and shelter.

Over the year, this index increased by 3.7 percent, with shelter and medical care contributing to the rise.

Technical Note

The CPI for the West Region is published monthly and covers various goods and services.

It is based on prices collected from various urban areas and retail establishments across the region.

The West Region includes thirteen states: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.

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