NY-area consumer prices rose 1.6% in September as housing costs spiked
Consumer prices in the metropolitan area climbed last month as housing costs spiked due largely to a 2.9-percent increase in housing expenses, driven by rising rents, year over year, the federal Bureau of Labor Statistics reported Wednesday, Oct. 30, 2013. Credit: iStock
Consumer prices in the metropolitan area climbed last month as housing costs spiked.
The federal Bureau of Labor Statistics on Wednesday reported that its consumer price index for the 31-county region that includes Long Island rose 1.6 percent in September compared with a year ago.
The rise was largely due to a 2.9-percent increase in housing expenses, driven by rising rents, year over year, according to Martin Kohli, the bureau's chief regional economist. The increase was the largest since May 2009, he said.
Release of the price index was delayed by the federal government shutdown earlier this month.
In September, grocery prices climbed 1.9 percent, year over year. The cost of electricity jumped 5.8 percent from 2012, while gasoline dropped 6.9 percent.
Health care expenses continued to increase, up 3.8 percent last month compared with September 2012.