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consumer prices Archives - Shopfloor

Consumer Prices Up 0.2 Percent in February, or 2.3 Percent Over the Past 12 Months

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The Bureau of Labor Statistics reported that consumer prices increased 0.2 percent in February, slowing from a robust 0.5 percent gain in January. Food and energy costs decelerated in the latest data, with the latter being one of the bigger drivers of higher consumer prices in the prior release. Energy costs inched up 0.1 percent in February, slowing after a rise of 3.0 percent in January, with gasoline prices off 0.9 percent. This is largely consistent with data from the Energy Information Administration, which pegged the average price for regular conventional gasoline at $2.516 per gallon on January 29 but fell to $2.442 a gallon on February 26. At the same time, food prices were flat in February. Since February 2017, food and energy costs have increased 1.4 percent and 7.7 percent, respectively. Read More

Higher Energy Costs Pushed Consumer Prices Higher in January

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The Bureau of Labor Statistics said that consumer prices jumped 0.5 percent in January, its fastest pace in four months. The increase in consumer inflation was led by higher energy costs, which rose by 3.0 percent in January, with gasoline prices up 5.7 percent and fuel oil up 9.5 percent. This is largely consistent with data from the Energy Information Administration, which pegged the average price for regular conventional gasoline at $2.384 per gallon on December 25 but increasing to $2.516 a gallon on January 29. At the same time, food prices rose by 0.2 percent for the second straight month. Since January 2017, food and energy costs have increased 1.7 percent and 5.9 percent, respectively. Read More

Reduced Energy Costs Keep Consumer Price Inflation in December in Check

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The Bureau of Labor Statistics reported that consumer prices edged up 0.1 percent in December, slowing from the 0.4 percent gain in November. Reduced energy costs, which declined 1.2 percent for the month, helped to keep consumer inflation in check in December, with gasoline prices off 2.7 percent. This is largely consistent with data from the Energy Information Administration, which pegged the average price for regular conventional gasoline at $2.47 per gallon on November 6, falling to $2.36 a gallon on December 25. (Note that costs have risen since then, averaging $2.43 per gallon on January 8.) In contrast, food prices rose 0.2 percent in December. Since December 2016, food and energy costs have increased 1.6 percent and 6.9 percent, respectively. Read More

Consumer Prices Picked Up at Fastest Monthly Rate Since January, Remain Modest Overall

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The Bureau of Labor Statistics said that consumer prices rose by 0.4 percent in August, the fastest monthly rate since January. The uptick stemmed largely from higher energy costs, which increased by 2.8 percent in August, ending three months of declines, with gasoline prices up 6.3 percent. (It is important to note that this run-up in energy prices pre-dates Hurricanes Harvey or Irma and their effects on the market.) At the same time, food prices edged up 0.1 percent, mostly from food purchased away from home. Since August 2016, food and energy costs have increased 1.1 percent and 6.4 percent, respectively.

Overall, the consumer price index (CPI) increased 1.9 percent year-over-year in August, up from 1.7 percent in July. Pricing pressures had accelerated over much of the past year, increasing from 1.1 percent year-over-year in August 2016 to 2.8 percent year-over-year in February. However, inflation has cooled since then, even with the more-recent increases in energy costs noted above. Read More

Consumer Prices Edged Up 0.1 Percent in July, but Inflationary Pressures Have Cooled Overall

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The Bureau of Labor Statistics said that consumer prices edged up 0.1 percent in July, ticking slightly higher after being unchanged in June. Food prices rose by 0.2 percent for the month, but that was partially offset by a decline in energy costs of 0.1 percent. Since July 2016, food and energy costs have increased 1.1 percent and 3.4 percent, respectively.

Overall, the consumer price index (CPI) increased 1.7 percent year-over-year in July, inching up from 1.6 percent in June. Pricing pressures had accelerated over much of the past year, increasing from 0.9 percent year-over-year in July 2016 to 2.8 percent year-over-year in February. However, inflation has cooled since then. Read More

Consumer Prices Unchanged in June, Continue to Decelerate Year-Over-Year

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The Bureau of Labor Statistics reported that consumer prices were flat in June. Energy prices decreased 1.6 percent, falling for the fourth time in the past five months, with gasoline prices off 2.8 percent in June. This was largely consistent with data from the Energy Information Administration, which noted that the weekly average price for regular conventional gasoline was $2.308 on May 29 but fell to $2.201 on June 26. In contrast, food prices were flat for the month, with higher costs for meats, poultry, fish and eggs offset by lower prices in other categories. Over the past 12 months, food and energy costs have increased 0.9 percent and 2.3 percent, respectively.

Overall, the consumer price index increased 1.6 percent year-over-year in June, its lowest rate since October. This suggests that the acceleration in pricing pressures that peaked at a 2.8 percent year-over-year rate in February has slowed since then. With that said, year-over-year consumer inflation was 1.0 percent in June 2016, suggesting that overall prices have still trended slightly higher over the past year despite some deceleration in that pace over the past few months.

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Consumer Prices in May Reflect Some Slowing in Inflationary Pressures

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The Bureau of Labor Statistics said that consumer prices edged down 0.1 percent in May, falling for the second time in the past three months. The lower figure mainly stemmed from reduced energy costs, down 2.7 percent, with gasoline prices off 6.4 percent. In contrast, food prices increased 0.2 percent for the second consecutive month. Over the past 12 months, food and energy costs have increased 0.9 percent and 5.4 percent, respectively. Overall, the consumer price index increased 1.9 percent year-over-year in May, its first reading below 2 percent since November. This suggests that the acceleration in pricing pressures that peaked at a 2.8 percent year-over-year rate in February has slowed since then. With that said, year-over-year consumer inflation was 1.0 percent in May 2016, suggesting that overall prices have still trended higher over the longer term.

Core consumer prices, which exclude food and energy costs, edged up 0.1 percent in May, mirroring its increase in April. Excluding food and energy costs, consumer prices have risen 1.7 percent over the past 12 months, pulling back from 2.0 percent in March and 1.9 percent in April. As such, overall pricing pressures remain modest and mostly under control for now.

Consumer Prices Edged Slightly Higher in April, Up 0.2 Percent

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The Bureau of Labor Statistics said that consumer prices edged slightly higher in April, up 0.2 percent, after declining somewhat in March. The higher figure stemmed largely from an increase in energy costs, up 1.1 percent, rebounding from decreases in both February and March. Gasoline prices have jumped 14.3 percent over the past 12 months. At the same time, food prices increased by 0.2 percent in April, rising for the fourth straight month, but with year-over-year growth of just 0.5 percent. Overall, the consumer price index (CPI) increased 2.2 percent year-over-year in April, down from 2.8 percent in February and 2.4 percent in March. In April 2016, the CPI rose 1.1 percent, illustrating the acceleration in prices since then.

Core consumer prices, which exclude food and energy costs, edged up 0.1 percent in April and rebounding from a similar decline in March. Excluding food and energy costs, consumer prices have increased 1.9 percent over the past 12 months, pulling back a little from 2.0 percent in the prior report. That was the first time the year-over-year core inflation rate has fallen below 2.0 percent since October 2015. For now, overall pricing pressures remain modest and mostly under control, even with a pickup in the total CPI growth in recent months.

Reduced Energy Costs Helped to Push Consumer Prices Lower in March

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The Bureau of Labor Statistics said that consumer prices decreased 0.3 percent in March, its first decline in 13 months. The reduced figure stemmed from a reduction in energy costs, down 3.2 percent, including a 6.0 percent decline in gasoline prices. With that said, gasoline costs have jumped nearly 20 percent over the past 12 months. At the same time, food prices increased by 0.3 percent in March, its highest monthly rate since June 2015. Overall, the consumer price index increased 2.4 percent year-over-year in March, down from 2.8 percent in February but up from 0.9 percent one year ago.

Core consumer prices, which exclude food and energy costs, edged down 0.1 percent in March. There were higher prices for medical care and transportation services in this release, but those were offset by reduced costs for apparel, household furnishings and new and used vehicles. Excluding food and energy costs, consumer prices have increased 2.0 percent over the past 12 months, pulling back a little from 2.2 percent in the prior report. Even though core consumer price inflation has equaled or exceeded the Federal Reserve’s stated goal of 2 percent for 17 consecutive months, overall prices pressures remain modest and under control for now.

Consumer Prices Increased 2.5 Percent Year-Over-Year in January, the Highest Since March 2012

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The Bureau of Labor Statistics said that consumer prices rose 0.6 percent in January, its fastest month pace in more than four years. It was also the sixth straight monthly increase, with the larger figure in January due largely to higher energy costs, up 4.0 percent in this report. For its part, gasoline costs were up 7.6 percent in January, with a 20.3 percent gain over the past 12 months. At the same time, food prices edged up 0.1 percent in January, with a decline of 0.2 percent since January 2016. Overall, the consumer price index increased 2.5 percent year-over-year in January, up from 0.9 percent in July and the highest level since March 2012.

Core consumer prices were up 0.3 percent in January, its fastest rate in five months. There were higher prices for apparel, household furnishings, medical care new vehicles, transportation services and shelter, but used cars and trucks had slightly reduced prices in this release. Excluding food and energy costs, consumer prices have increased 2.3 percent over the past 12 months, up from 2.2 percent in the prior report. Even though core consumer price inflation has exceeded the Federal Reserve’s stated goal of 2 percent for 15 consecutive months, overall prices pressures remain modest and under control for now.

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