Metro area prices jump on higher housing costs, data show

Consumer prices in the metropolitan area rose sharply in February compared with a year earlier on higher housing costs.

The federal Bureau of Labor Statistics said Wednesday its consumer price index for the 25-county region that includes Long Island climbed 2.4% last month compared with February 2019.

Housing costs were up 2.5% from a year ago, with the largest jump in residential rents, 2.7%.

Grocery prices climbed 0.8% last month compared with February 2019.

The cost of gasoline and electricity increased 5.7% and 2.8%, respectively.

Medical care costs climbed 5.7%, year over year. School tuition and day care fees were up 4.3%, while automobile insurance rose 3.6%.

While other spending categories rose by higher percentages than housing, housing costs are given greater weight in the price index because housing represents a larger percentage of most consumers' budgets.

The increases were partially offset by declines in the cost of natural gas and clothing. Natural gas prices fell 5.3% last month compared with February 2019. Apparel prices dropped 0.3%

Correction: An earlier version of this story incorrectly stated the magnitude of the price increase. 

By James T. Madore

james.madore@newsday.comJamesTMadore

James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.