Wednesday, May 11, 2022

Inflation remains elevated in the Atlanta area for April 2022

 CPI-U Atlanta-Sandy Springs-Roswell, GA

12-month percentage change, 1981 through 2021

Source: U.S. Bureau of Labor Statistics


Consumer prices in the Atlanta area (CPI-U for Atlanta-Sandy Springs-Roswell, GA) rose 1.9% for the two months ending in April 2022, according to newly released information from the U.S. Bureau of Labor Statistics. The two-month increase in prices for the March-April period were slightly less than the 2.3% increase recorded in the January-February period.

Over the 12 months ending in April, consumer prices rose by 10.8% in the Atlanta area. Consumer prices in the Atlanta area were slightly above the 10.6% increase recorded for the 12-month period ending in February and remain at the highest level recorded for the Atlanta area since 1981.

For the United States, consumer prices rose 1.9% for the two months ending in April and increased 8.3% over the past 12 months.

Atlanta area prices

Food prices increased 2.2% for the two months ending in April and have risen 9.3% over the past 12 months reaching the largest 12-month increase since 1981. Costs for food at home increased 3.1% over the past two months, while costs for food away from home increased 1.1%.

Energy prices rose 7.6% for the two months ending in April with gasoline prices increasing 14.3%. Over the past year, energy costs have risen 23.5%, while gasoline prices have moved up 40.2%.

The prices for all items less food and energy increased 1.2% for the two months ending in April and 9.8% over the past 12 months. Notably, costs for shelter in the Atlanta area increased 2.0% over the past two months and have increased 9.9% over the past year, the largest 12-month increase for the shelter index since 1982.

Real earnings

The Bureau of Labor Statistics does not publish inflation-adjusted hourly earnings for the Atlanta area but does produce information for the nation based on national data.

For the one-month period ending in April, real average hourly earnings for all employees declined by 0.1%. This result stems from an increase of 0.3% in average hourly earnings combined with an increase of 0.3% in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average hourly earnings decreased 2.6%, seasonally adjusted, from April 2021 to April 2022. The change in real average hourly earnings combined with a decrease of 0.9% in the average workweek resulted in a 3.4% decrease in real average weekly earnings over this period.


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