Consumer Price Index

Airport Passenger Activity Tourist Tax Revenues Taxable Sales Labor Force and Employment Employment by Industry Single-Family Building Permits Existing Single-Family Home Sales Residential Active Listings Consumer Sentiment Index Consumer Price Index SWFL Stock Index Housing Affordability Index

Consumer Price Index

Last Updated: November 13th, 2024

Summary

• The Miami-Ft. Lauderdale-West Palm Beach, FL CPI increased by 2.7 percent from October 2023 to October 2024, while the US South Region had a 2.5 percent increase over the same period. CPI for the nation increased by 2.6 percent in October 2024 compared to October 2023.
• Other Goods and Services outpaced the rest of the components in the Miami-Ft. Lauderdale-West Palm Beach, FL region, increasing by 6.6 percent from October 2023 to October 2024. The area also saw a moderate increase in Housing and Medical Care, rising 3.7 and 3.5 percent over the 12-month period.

About the Data

The CPI is a monthly indicator produced by the Bureau of Labor Statistics (BLS) to measure inflation in the national economy, as well as the various regions and major metropolitan areas. The measure calculates the average price of a representative basket containing over 200 goods and services for urban consumers across the country. Expenditure items captured in the representative basket can be classified into one of eight major components – food and beverages, housing, apparel, transportation, medical care, recreation, education and communication, and other goods and services.

The representative basket of goods and services is determined through the Consumer Expenditure Survey and utilizes spending diaries collected from thousands of households across the nation. Using this data, the BLS calculates the relative importance of each item in the basket of goods and services. The relative importance is published for the month of December each year. Check out our Issue Brief to learn more about the composition of the basket of goods and services and drivers of the CPI.

United States and U.S. South CPI data is updated by the U.S. BLS on a monthly basis.  Meanwhile, both the Miami-Ft. Lauderdale-West Palm Beach, FL and Tampa-St. Petersburg-Clearwater, FL CPI data are updated once every two months. The Tampa-St. Petersburg-Clearwater, FL region is updated for odd numbered months while the Miami-Ft. Lauderdale-West Palm Beach, FL region is updated for even numbered months.