Hooray, Consumer Price Index low (except for gas and food!)

[rfranklin]

(Gee, if you don't eat and don't use energy, you're in great shape!)

U.S. April core consumer prices flat
CPI up 0.5% on fastest rise in energy prices in 2 years

By Rex Nutting, MarketWatch

WASHINGTON (MarketWatch) - The underlying rate of U.S. inflation was unchanged in April, even as spiking energy prices drove up overall consumer prices, the Labor Department said Wednesday.

The consumer price index increased 0.5% in April, driven by a 4.5% increase in energy prices, the fastest increase in energy prices in more than two years. Food prices jumped 0.7%, but other price increases were moderate. Read the full release.

The core CPI, which excludes food and energy costs, was unchanged in April, the lowest rate of underlying inflation since November 2003.

Economists were expecting the CPI to rise 0.4% in April after a 0.6% gain in March, according to a survey conducted by MarketWatch. The core rate was expected to rise 0.2% in April after 0.4% in March.

www.marketwatch.com/news/story.asp?guid=%7B7B7573D7%2D5144%2D4181%2DA3C8%2D9A6B3B3800AE%7D&siteid=mktw&dist=

[elehhhhna]

1. See? If we'd stop buying gas & food, things would be hunky-dory!

[latebloomer]

2. Gas and food?

Who needs that crap, anyway? :eyes:

Who makes up the rules for these indexes? Honestly!!

[fasttense]

3. OK, I get your sarcasm. I was confused after reading the other story

WASHINGTON - Consumer prices climbed by 0.5 percent in April, reflecting the biggest rise in energy prices in two years, along with more expensive air fares and food costs."

"The increase in the consumer price index, the government's most closely watched inflation barometer, followed an even larger 0.6 percent advance in March, the Labor Department reported Wednesday."

snip

"Energy prices jumped by 4.5 percent last month. That was up from a 4 percent gain in March and represented the biggest advance since March 2003.

In April, gasoline prices went up by 6.4 percent, natural gas prices rose 5.6 percent and fuel oil increased 4.6 percent.

Rising energy costs are being driven by surging oil prices."

Link here:

http://story.news.yahoo.com/news?tmpl=story&cid=668&e=3...

[madrchsod]

4. get ready for deflation

the furn,rs ain`t buying our debt anymore and walmart is underperforming...

[Misskittycat]

5. You forgot about housing and healthcare. (sarcasm) n/t