Inflation hit historic highs last month as lingering supply chain issues and global tensions over Russia’s war with Ukraine dashed policymakers’ hopes that consumer prices would moderate. The Consumer Price Index (CPI) climbed 7.9% in the 12 months through February — the fastest rise in year-over-year inflation since 1982. The […]
Tag: gas prices
Surging Energy Prices Drive Up Core and Consumer Prices for Second Consecutive Month
Consumer prices continued to move upward in February in the latest sign that Americans continue to grapple with surging energy prices. The consumer-price index rose in February to 0.4% from 0.3% in January the U.S. Labor Department said Wednesday. Rising gas prices drove the increase as the gasoline index rose 6.4% […]
Refinery Strikes Had Little Impact on Gas Prices That Will Continue to Fall
By Marguerite Ward Some experts speculated that the United Steelworkers strike, the largest oil refinery strike in over three decades, would send gas prices upward. But after six weeks, the strike is essentially over and gas prices are set to fall again. Right before the strike ended, Fitch Analytics released […]
April U.S. Auto Sales expected to be stable
Auto sales are estimated to remain flat compared to last month but up from April 2012, making the automobile industry one of the economy’s strongest sectors. New car sales will remain above a 15 million unit annual selling pace for the sixth consecutive month, according to economists surveyed by Bloomberg. […]
Gas Surcharges Haven’t Added To Commodities, CPI Shows
By Menglin Huang| Mar 16, 2012 Higher gas prices in February drove headline consumer prices up by the most in 10 months. But outside of energy, the inflation still remained in check. The consumer price index, or CPI, increased 0.4 percent last month, marking its biggest gain since last April, […]
Consumers Remain Unfazed by Higher Gas Prices
With retail sales the highest they’ve been in five months, rising gasoline prices don’t seem to be fazing consumers, yet. Retail sales rose 1.1% in February, in line with economists’ expectations. Though higher gasoline prices accounted for some of the increase in spending, retail sales in February were still very […]
January Inflation Follows Fed’s Expectation
Consumer prices rose slightly in January, mainly lifted by energy and apparel costs due to the tension with Middle Eastern countries and a cotton supply shortage. The 0.2 percent is lower than economists’ forecasts, and they believe that current inflation is being contained by the Federal Reserve, which initially targeted […]