Wednesday, May 14, 2008

Consumer Price Index

The US consumer price index gained slightly in April, as today's monthly report showcased a tame 0.2% increase. The report was in line with economists expectations. Core CPI, which excludes energy and food prices because of their volatile nature, increased 0.1%. Economists had also forecast a 0.2% gain for the core CPI.

The monthly gain, although mild compared to what consumers actually feel (or so it seems), was largely attributed to an increase in consumer food prices. Food prices in the US rose 0.9%, the sharpest rate in 18 years. Gasoline prices fell 2.0% (???) for the month.

Year-over-year, consumer prices have increased 3.9%. Core CPI gained 2.3% in the same period.

See Full Report.

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