May 20, 2013

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Article

April Zions Bank Consumer Price Index

Press Release

May 20, 2013

Salt Lake City — The Zions Bank Wasatch Front Consumer Price Index (CPI) increased 0.1 percent in April. In comparison, prices decreased nationally 0.1 percent in April, as reported by the Bureau of Labor Statistics. Over the past twelve months and on a on a non-seasonally adjusted basis, prices along the Wasatch Front have increased 1.9 percent compared to 1.1 percent nationally.

Decreasing utility prices mostly offset rising transportation prices this month, resulting in the nominal overall increase in the Wasatch Front CPI from March to April. Education and communication prices also fell as the price of personal computer accessories decreased again this month. Most other prices were relatively unchanged.

Overall, prices along the Wasatch Front increased 0.1 percent (non-seasonally adjusted) in the month of April, while national prices decreased 0.1 percent (non-seasonally adjusted).

Zions Bank Consumer Price Index Summary

Food at home:

The price of produce and citrus fruits fell sharply from March to April, which drove food at home prices down 0.2 percent.

Costs of food at home — including meats, fresh produce, wheat and dairy — account for 8.5 percent of a typical Utahn’s consumption.

Food away:

Food away prices were unchanged from March to April.

Costs of food away — including full service meals, fast food and alcoholic beverages — account for 7.1 percent of a typical Utahn’s consumption.

Housing:

Housing prices fell 0.1 percent in April. Hotel and Motel rates increased, but the cost of appliances and furniture fell.

Costs of housing — including rental costs, home maintenance and hotel rates — account for 34.9 percent of a typical Utahn’s consumption.

Utilities: Utility prices decreased 1.5 percent due entirely to a substantial drop in the cost of natural gas, though slightly offset by an increase in the price of propane.

Costs of utilities — including electricity, gas, water and garbage —account for 4.2 percent of a typical Utahn’s consumption.

Clothing:

Women’s apparel increased in April, which pushed clothing prices up 0.2 percent.

Costs of clothing — including, women’s, men’s and children’s apparel — account for 4.8 percent of a typical Utahn’s consumption.

Transportation:

Gasoline and public transit prices rose from March to April, driving up transportation prices 0.9 percent.

Costs of transportation — including new and used vehicles, gasoline and airfare — account for 18.9 percent of a typical Utahn’s consumption.

Medical care:

Medical care costs increased 0.2 percent due to a modest price increase nonprescription drugs and medical supplies.

Costs of medical care — including prescription drugs, medical care services and nursing home services — account for 6.4 percent of a typical Utahn’s consumption.

Recreation:

Recreation prices were unchanged from March to April.

Costs of recreation — including electronics, sporting goods, club fees and pet products — account for 5.8 percent of a typical Utahn’s consumption.

Education and communication:

The price of education and communication declined 0.3 percent, as costs for personal computer accessories decreased.

Costs of education and communication — including college tuition, personal computers, Internet and telephone — account for 6.3 percent of a typical Utahn’s consumption.

Other goods and services:

The cost of other goods and services decreased 0.5 percent due to a fall in laundry and dry cleaning prices.

Costs of other goods and services — including tobacco products, cosmetics and personal care products — account for 3.1 percent of a typical Utahn’s consumption.

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