The consumer price index for all urban consumers nationwide decreased 0.1% from March 2014 to March 2015, marking its third consecutive decline. This decrease was largely due to an 18.3% drop in energy prices, as gasoline prices fell 29.2% during this period. Core inflation, which excludes volatile food and energy categories, rose 1.8% over the past 12 months. In Houston specifically, the energy index decreased 27.5% since March 2014, with gasoline prices falling 32.6% and household energy prices declining 20.1%.

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April 17, 2015
INFLATION- NATIONWIDE
The cost of consumer goods and services as measured by the Consumer Price Index for All
Urban Consumers (CPI-U) decreased 0.1 percent nationwide from March ’14 to March ’15, its
third consecutive decline. According to data released today by the U.S. Bureau of Labor
Statistics, the decrease is a result of an 18.3 percent drop in the energy index. Core inflation (all
items less the volatile food and energy categories) rose 1.8 percent over the past 12 months.1
Within the energy index, gasoline prices experienced the steepest decline, falling 29.2 percent
since March ’14. Household energy prices decreased 4.2 percent during the same period. Food
prices increased 2.3 percent since March ’14 with the cost of dining out rising 2.9 percent and
the cost of groceries increasing 1.9 percent. The cost of housing grew 1.9 percent since March
’14.
1
CPI data in this commentary are not seasonally adjusted.
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
'05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Source: U.S. Bureau of Labor Statistics, not seasonally adjusted
Inflation, 12-Month Change
Houston CPI-U U.S. CPI-U

2. INFLATION- HOUSTON
In Houston (for this data series, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty,
Montgomery and Waller Counties), the energy index decreased 27.5 percent since March ’14.
The cost of gasoline fell 32.6 percent and household energy prices declined 20.1 percent. The
shelter index increased 4.8 percent and grocery prices rose 2.4 percent over the past 12
months.
Full March and April CPI data for Houston will be released on May 22.
Prepared by Greater Houston Partnership Research Department
Patrick Jankowski, CCR
Senior Vice President, Research
713-844-3616
pjankowski@houston.org
Jenny Philip
Senior Manager, Economic Research
713-844-3615
jphilip@houston.org