Fuel prices give CPI a push

April 13, 2012 at 11:20 AM   |   Comments

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WASHINGTON, April 13 (UPI) -- The Consumer Price Index rose 0.3 percent in March, pushed by rising fuel oil prices, the U.S. Commerce Department said Friday.

Core prices, excluding energy and food items, rose 0.2 percent.

Across the board, energy prices rose 1.7 percent while fuel oil prices gained 2.7 percent month-to-month and 5.3 percent on an unadjusted 12-month basis.

Gasoline prices of all types rose 1.7 percent.

On a 12-month basis, the CPI for all items rose 2.7 percent, while food prices rose 0.2 percent in March and are gaining at a rate of 3.3 percent per year. Energy costs are also up higher than the overall figure, climbing 4.6 percent on an unadjusted annual basis.

For investors keeping an eye on the U.S. Federal Reserve, the central bank's target growth for prices is just under 2 percent.

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