Consumer Price Index Bests Expectations
Posted on: Wednesday, 14 May 2008, 12:00 CDT
The Consumer Price Index came in under expectations in April, the U.S. Labor Department reported Wednesday.
Prices in the United States rose 0.2 percent, although analysts had predicted a 0.3 percent rise.
Core inflation -- prices excluding food and energy costs -- rose 0.1 percent during the month and 2.3 percent on the year, measured April to April, the report said.
In March, core inflation rose 0.2 percent.
April's costs included gains in food and clothing, but transportation prices eased 0.7 percent and recreation costs fell 0.1 percent.
Home furnishing prices also declined.
The index for petroleum-based energy fell 1.6 percent, offset by substantial increases in all six major grocery store food groups, the report said.
The overall food index rose 0.9 percent, while the index for foods prepared in the home increased 1.5 percent, the report said.
Source: United Press International
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