Dallas-Fort Worth residents paid higher prices for food, shelter, and electricity in October and November, according to the latest consumer price index data for the region.
Headline inflation in the Dallas-Fort Worth-Arlington (DFW) Core Based Statistical Area (CBSA) rose by 0.9% for the two-month period ending in November and by 5.2% over the last 12 months, the U.S. Bureau of Labor Statistics (BLS) recently reported.
For comparison, the national inflation rate in November, at 3.1%, is significantly less than the 5.2% rate here in DFW.
Bi-monthly data for the region shows that the index for energy fell 3.9% in October and November, while the index for food advanced 0.8% during the period. Lower energy prices were the result of a decline in gasoline prices, the report states.
Overall, food prices in the U.S. rose 0.8% for the two months ending in November and by 5.1% over the last year. Prices for food at home (grocery store prices) advanced 1.1% in October and November, while prices for food away from home (restaurant, cafeteria, and vending purchases) rose 0.5% for the same period.
The increase in the food at home index was mainly due to a rise in prices for fruits and vegetables (+3.3%) and other food at home (+1.8%). However, the report notes that a 0.9% decline in the index for cereals and bakery products partially offset the increase.
The energy index, which dropped by 3.9% in October and November, was entirely the result of lower gasoline prices (-16.6%). On the other hand, prices for natural gas service and electricity increased 12.7% and 8%, respectively.
Over the past 12 months, energy prices in DFW have eased 4% lower thanks to a 7.2% drop in gasoline and a 0.9% decline in electricity. However, DFW residents paid 2.8% more for natural gas service over the last year, according to the report.
Meanwhile, core inflation — which excludes food and energy prices but not shelter — rose by 1.3% in October and November.
Increases during this two-month period were driven largely by a rise in the index for owners’ equivalent rent of residence, as noted by Michael Hirniak, assistant commissioner for regional operations, in the report.
Rising “housing prices” in DFW continue to be a primary driver of inflation, said Alyssa Leibold, a BLS staff economist in Dallas, per The Dallas Morning News.
The DFW CBSA includes the counties of Collin, Dallas, Denton, Ellis, Hood, Hunt, Johnson, Kaufman, Parker, Rockwall, Somervell, Tarrant, and Wise.
