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I am at loss here, please help.

I have a list and for every item in the list, I need its ID to look like this:

201502-1

201502-2

201502-3

201503-1

201504-1

Number at the end is the order of item submitted in that month.

What I managed so far is to get the right format of the date by using this: =TEXT(Created,"yyyy")&TEXT(Created,"mm")&"-"

How do I calculcate the order of new items to start from 1 for each month?

Thanks a lot!!

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Calculated column can look values from only the current item. It doesn't have the capability to look across the list items and take a decision.

Your best option is to create an item event receiver or use a SharePoint Designer workflow that get fired on new item add.

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