Friday, March 14, 2008

Inflation? What Inflation?

The Bureau of Labor Statistics released its monthly consumer price index for February, and to everyone's surprise(and I mean everyone), it came in flat. There was no increase in consumer prices in the last month. Hard to believe, but for the time being, we'll treat it as great news.

Core CPI, which excludes volatile food and energy prices, was also flat for the month. Economists were expecting an increase in prices of 0.2% for both the CPI and the core. Over the past year, the CPI is up 4.0%, down from 4.3% in January. Core is up 2.3%.

Report Breakdown- Apparel prices fell 0.3%, while transportation costs fell another 0.7%. Food prices rose 0.4%, offsetting a 0.5% drop in energy prices. Recreation and medical care costs both rose 0.1%.

See Full Report.

1 comment:

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