Metro prices climb 1.7 percent as area rents, gasoline prices rise
The average cost of gasoline has been increasing nationally, with prices above the $2.60 mark, seen here at a Huntington Station gas station, Feb. 14, 2018. Credit: Johnny Milano
Consumer prices in the metropolitan area were up in February compared with a year earlier as residential rents increased.
The U.S. Bureau of Labor Statistics on Tuesday said its consumer price index for the 25-county region that includes Long Island climbed 1.7 percent last month compared with February 2017.
Residential rents increased 2.2 percent, year over year.
The cost of gasoline was up 11.5 percent compared with February 2017.
The cost of natural gas rose 7.9 percent while electricity was down 1.2 percent, year over year.
Grocery prices climbed 1.8 percent last month compared with February 2017.
Medical care costs rose 2.2 percent, year over year. Clothing prices were up 0.2 percent.
These increases were partially offset by a 2.1 percent decline in the cost of education and communications items, including textbooks and personal computers, from February 2017 to last month.
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.
