AIER’s Everyday Price Index (EPI) decreased 1 percent in September after decreasing 0.5 percent in August.
Everyday Price Index
The Everyday Price Index (EPI) increased 1.1 percent in May after showing no change in April. On a not-seasonally-adjusted basis, the CPI increased 0.5 percent in May after rising 0.2 percent in April. AIER’s EPI is not seasonally adjusted.
The Everyday Price Index (EPI) decreased 0.2 percent in September as lower energy prices offset an increase in food. In contrast, the Consumer Price Index (CPI) increased 0.1 percent in September because of an increase in the price of housing. Housing is not included in the EPI because housing prices are fixed by long-term contracts. The EPI measures prices that change from day-to-day.
The Everyday Price Index (EPI) decreased 0.5 percent in August because an increase in food prices was offset by a decrease in energy prices. Similarly, the Consumer Price Index (CPI) decreased 0.2 percent in August.
The Everyday Price Index (EPI) was unchanged in July because the increase in food prices was offset by a decrease in energy prices.
The Everyday Price Index (EPI) increased 0.4 percent from May to June, a slightly larger jump than the 0.3 percent increase in the Consumer Price Index (CPI). The somewhat stronger growth in the EPI is consistent with the pace over the previous 12 months, when the EPI increased 2.4 percent compared to a 2.1 percent increase in the CPI. June’s stronger EPI growth was largely due to energy price increases, while food prices restrained both indexes.
AIER’s Everyday Price Index (EPI) is designed to reflect price changes felt by Americans on a day-to-day basis. AIER is adjusting the methodology of computing the EPI to more accurately account for the spending patterns of American consumers. The improved EPI should better reflect the actual price pressures felt by people in their everyday purchases.
The Everyday Price Index (EPI) increased 0.4 percent from March to April, a larger jump than the 0.3 percent increase in the Consumer Price Index (CPI). Both indexes were led higher by food and energy costs. Food away from home increased 0.3 percent making dining out more expensive. Consumers could not avoid higher food prices even by grocery shopping. Food at home increased 0.5 percent with meats, poultry, fish, and eggs (+1.6 percent), fruits and vegetables (+0.5 percent) and bread (+1.8 percent), leading grocery bills higher. On the energy side, motor fuel increased 3.5 percent but household fuels and utilities decreased 1.9 percent as warmer weather finally arrived.