CPI Detailed Report For April 1975 Consumer Price Index U.S. and City Averages Contents U.S. DEPARTMENT OF LABOR Price movements 1 John T. Dunlop, Secretary Chart 1. All items index and its rate of change, 1966-75 4 BUREAU OF LABOR STATISTICS Julius Shiskin, Commissioner Chart 2. Commodities less food index and its rates of change, OFFICE OF PRICES AND LIVING CONDITIONS 1966-75 6 W. John Layng, Assistant Commissioner Chart 3. Total food index and its rates of change, 1966-75 6 Chart 4. Services index and its rates of change, 1966-75 7 Table 1. CPI—United States city average for urban wage earners and clerical workers, by commodity and service groups, and The CPI Detailed Report is a monthly expenditure classes 8 report on consumer price movements Table 2. CPI—United States city average for urban wage earners and including statistical tables and clerical workers, by commodity and service groups, and technical notes. expenditure classes 9 Table 3. CPI—United States and selected areas for urban wage earners and clerical workers, April 1975 indexes, and percent This publication may be ordered from changes from selected dates 10 the Superintendent of Documents, U.S. Government Printing Office, Table 4. CPI—United States and selected areas for urban wage earners and clerical workers, indexes for selected items and Washington, D.C. 20402. Price: groups, April 1975, and percent changes from selected dates 11 $11.55 for yearly subscription, $1 for single copies and an additional Table 5. CPI—United States and selected areas for urban wage $2.90 for foreign subscriptions. earners and clerical workers, all items most recent index, and percent changes from selected dates 15 Table 6. CPI—United States and selected areas for urban wage earners and clerical workers, major groups, percent change from July 1975 March 1975 to April 1975 15 Table 7. CPI—United States and selected areas for urban wage earners and clerical workers, commodity groups, April 1975 index, and percent changes from January 1975 16 Table 8. CPI—United States city average for urban wage earners library of Congress and clerical workers, food and its subgroups, April 1975, and Catalog number 74-647019 percent changes from March 1975 17 Table 9. CPI—Regular and premium gasoline indexes, selected areas and U.S. city average for urban wage earners and clerical workers 18 Table 10. CPI—Regular and premium gasoline prices, selected areas and U.S. city average for urban wage earners and clerical workers 18 Table 11. CPI—Seasonal adjustment factors for use with 1975 indexes (calculated from data through March 1975) 19 Table 12. CPI—Food items, seasonal adjustment factors for use with 1975 indexes (calculated from data through March 1975) 20 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Price Movements April 1975 The Consumer Price Index rose 0.5 percent in April since last fall—from 1.2 percent in September, to 0.6 to 158.6 percent of its 1967 base. Prices rose for many percent in January, 0.5 percent in February, and 0.3 items including used cars, furniture, houses, gasoline, ma- percent in March. The larger rise in April reflected an gazines, auto insurance, natural gas, and some food items, upturn in food prices after 2 months of decline and a notably fresh fruits, eggs, and beef. Prices declined, how- larger increase in nonfood commodities and services. ever, for many other food items, particularly fresh The food index increased 0.4 percent on a seasonally vegetables and sugar. Mortgage interest rates were lower. adjusted basis in April, after declining 0.6 percent in On a seasonally adjusted basis, the CPI rose 0.6 March and 0.3 percent in February. The April rise, percent in April, compared with 0.3 percent in March. however, was moderate compared with increases early The rise *u the CPI had become progressively smaller this year and in late 1974. Table A. Percent changes in CPI and components, selected periods1 Changes in all items Changes from preceding month Compound annual rate From 12 months Month From Commodities Serv- ago All items Food 3 months less food ices ago Unad- Seasonally Unad- Seasonally Unad- Seasonally Unad- Seasonally Unad- justed adjusted justed adjusted adjusted adjusted justed adjusted justed 1974: Apr 0.6 0.7 -O.3 0.1 1.1 1.1 0.6 11.8 10.1 May 1.1 1.0 .7 .9 1.4 1.0 1.0 11.3 10.6 June 1.0 .9 .4 .4 1.3 1.2 1.0 10.9 11.0 July .7 .8 .1 -.6 1.0 1.3 1.1 11.7 11.5 August . 1.3 1.1 1.4 1.8 1.3 1.3 1.1 12.3 11.0 September 1.2 1.2 1.4 1.6 1.1 1.1 1.1 13.4 12.0 October . .9 .9 .7 1.3 .9 .7 .9 13.6 12.0 November .8 .9 1.0 1.1 .8 .8 .8 12.7 12.1 December. .7 .8 1.1 .9 .4 .6 .9 11.0 12.2 1975: January .. .5 .6 .7 .9 .5 .8 9.8 1.1.7 February. .7 .5 .4 -.3 .7 .8 .8 8.2 11.1 March .... .4 .3 -.2 -.6 .8 .5 .4 6.0 10.3 April .5 .6 -.1 .4 .8 .8 .6 5.8 10.2 In accordance with longstanding policy, seasonal adjust- seasonally adjusted figures shown above and elsewhere in this ment factors have been recalculated to reflect developments release differ from those previously reported. The new factors, during the past 12 months. For this reason, some of the to be used through December 1975, are published in table 3. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis The index for nonfood commodities increased 0.8 apples, and bananas, however, increased because of percent in April, compared with 0.5 percent in March. seasonal declines in supplies. Monthly increases in this index have fluctuated within Poultry prices continued to decline in April instead of this range—0.5 and 0.8 percent—since last summer moving up seasonally. Pork prices also decreased, but when the index was rising over 1.0 percent per month. much less than is usual for April. Beef prices, however, The services index increased 0.6 percent in April, increased after declining steadily in the preceding 6 compared with 0.4 percent in March. In the preceding 5 months. Poultry and pork prices have declined despite months, the services index rose about 0.8 percent per smaller broiler flocks and hogs on farm—an indication month, down from 1.1 percent last summer. of consumer preference for beef when supplies are ample In April 1975, the CPI was 10.2 percent higher than and prices are relatively favorable. Retail beef prices in April 1974. The food index was 7.9 percent higher, rose in April, as wholesale cattle and beef prices started while the nonfood commodities index and the services to strengthen in March when packers, anticipating index were both 11.0 percent higher than their April tightening supplies of marketable cattle, began to build 1974 levels. up inventories. Hog prices also have been moving up since late March because of smaller supplies. The index for food away from home—restaurant Monthly changes in detail meals and snacks—increased 0.5 percent in April, the Food. The index for food purchased in grocery stores— same as in March. the major portion of the food index—declined 0.2 percent, smaller than is usual for April. Prices of many Nonfood commodities. The index for nonfood com- food items continued to decline in April, including modities increased 0.8 percent; it usually shows no sugar, dairy products, fats and oil products, and poultry. change in April. There were large increases in prices of Prices turned down for fresh vegetables, processed fruits furniture, gasoline, coal, houses, home maintenance and and vegetables, and cereal and bakery products. These repair commodities, housekeeping supplies, reading ma- declines were partly offset by higher prices for fresh terials, and used cars. New car prices, which usually fruits, eggs, and beef. decline in April, rose slightly. Prices also increased for Sugar prices fell a substantial 15.6 percent in April. most other nonfood commodities such as toilet goods, Wholesale prices continued to decline as a result of drugs and prescriptions, appliances, television sets, tires, slack demand combined with aggressive selling by beet and apparel. sugar refiners to reduce inventories before this year's Gasoline prices, which showed a downward trend crop is harvested. In the first 4 months of this year, during the second half of 1974, have risen steadily this retail sugar prices have fallen over 33 percent, but they year. The April increase of 1.1 percent, the sharpest were still more than 80 percent above their April 1974 since May 1974, reflected pass-throughs of higher crude level. oil cost to refiners. The cost of crude oil has risen Prices of cereal and bakery products decreased slightly because of the $1 per barrel excise tax on imported in April after rising rapidly for about 2 years. Prices crude oil along with the rising price of "new" (un- also declined for other processed items such as ice cream controlled) domestic oil. "New" crude oil is production and carbonated fruit drinks. Smaller price increases in above 1972 levels and prices generally approximate the recent months for cola drinks, grape jelly, pickle relish, landed cost of imported crude.