Consumer price index rises in January for metro area
Consumer prices rose in January because of higher costs for food and housing. Credit: Getty Images/iStockphoto/baona
Consumer prices in the metropolitan area rose modestly in January compared with a year earlier on the higher cost of housing and food.
The federal Bureau of Labor Statistics said Wednesday its consumer price index for the 25-county region that includes Long Island climbed 1.6 percent last month compared with January 2018.
The year-over-year increase in prices was unchanged from December's increase.
Last month residential rents increased 2.2 percent compared with a year earlier.
Grocery prices also were up 2.2 percent, year over year.
The cost of natural gas and electricity rose 18.9 percent and 0.1 percent, respectively. Gasoline prices were down 6.6 percent compared with January 2018.
The cost of medical care increased 3.7 percent, while school tuition and child care were up 3 percent.
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.
