The Consumer Price Index for July was published Tuesday, August 16. The CPI for all goods and services rose eight tenths of a percent (compared to a year ago).
But the CPI for electric utility service fell one percent. And the CPI for gas utility service fell four tenths of a percent.
The absolute prices of electric and gas utility service continue to drop, on average. The real prices of utility service continue to drop too, only more so.
In the northeast, electric prices fell seven tenths of a percent, and gas prices fell four tenths. While the prices of all goods and services rose eight tenths.
In the Midwest, electric prices fell eight tenths of a percent, and gas prices fell three and a half percent. While the prices of all goods and services rose four tenths.
The prices of all energy services, not just utility services, are holding down the CPI.
Take energy out of the picture. The prices of all other goods and services rose over three percent. The prices of medical care services, for example, rose over four percent.
Tracking the real cost and value of public utility service to consumers, Public Utilities Fortnightly.
Steve Mitnick, Editor-in-Chief, Public Utilities Fortnightly
E-mail me: mitnick@fortnightly.com
