Consumer prices up 2.1% in July in the NY-metro area
The federal Bureau of Labor Statistics reported Thursday that its consumer price index for the 31-county region that includes Long Island rose 2.1 percent. The report indicated that strong contributors were the price of electricity, up 5 percent in July, and gasoline, up 4,1 percent. These are power lines near Port Jefferson. (Aug. 5, 2013) Credit: Newsday / John Paraskevas
Prices in the New York metropolitan area climbed in July compared with a year earlier because of higher costs for energy and housing.
The federal Bureau of Labor Statistics reported Thursday that its consumer price index for the 31-county region that includes Long Island rose 2.1 percent last month compared with July 2012. The year-over-year increase was the largest since February.
Energy costs were partially to blame. The price of electricity rose 5 percent in July compared with a year earlier, while gasoline was up 4,1 percent.
Another driver was residential rents, which climbed 2.9 percent year over year, according to Martin Kohli, the bureau's chief regional economist.
The cost of health care and groceries rose moderately, up 3.1 percent and 1.1 percent, respectively.
Sarra Sounds Off, Season 3, Ep 5: Top football teams in action and Nassau soccer playoff picks Gregg Sarra sounds off on Wantagh vs. Bethpage and Ward Melville vs Sachem North, plus Michaeil Sicoli has his Nassau soccer picks, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 5: Top football teams in action and Nassau soccer playoff picks Gregg Sarra sounds off on Wantagh vs. Bethpage and Ward Melville vs Sachem North, plus Michaeil Sicoli has his Nassau soccer picks, an update on the high school fantasy football standings and the plays of the week.
