Rent increases push metro-area consumer price index up
The cost of gasoline fell 11.1 percent last month compared with November 2013 Credit: AP
Consumer prices in the metropolitan area rose modestly last month compared with a year ago on higher residential rents.
The federal Bureau of Labor Statistics reported Wednesday that its consumer price index for the 31-county region that includes Long Island climbed 0.8 percent in November compared with the same month in 2013.
It was the smallest year-over-year increase in the index since October 2009, according to Martin Kohli, the bureau's chief regional economist.
Residential rents climbed 3.1 percent in November compared with a year earlier.
Grocery prices increased 2.8 percent while medical care costs were up 3.3 percent, year over year.
The cost of gasoline fell 11.1 percent last month compared with November 2013. Natural gas prices were down 13 percent and electricity charges were up 3.8 percent.
Sarra Sounds Off Ep 36: Champs crowned in lax and flag football On the latest episode of "Sarra Sounds Off," Gregg talks with Michael Sicoli and Tess Ferguson about county champs crowned in boys and girls lacrosse, and Jared Valuzzi reports on the Long Island flag football championship.
Sarra Sounds Off Ep 36: Champs crowned in lax and flag football On the latest episode of "Sarra Sounds Off," Gregg talks with Michael Sicoli and Tess Ferguson about county champs crowned in boys and girls lacrosse, and Jared Valuzzi reports on the Long Island flag football championship.
