facebook
twitter
rss
account
search
search

Fuel prices give CPI a push

April 13, 2012 at 11:20 AM   |   Comments

| License Photo
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.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Auto sales grow 11% in July, Chrysler sales surge 20%
2
Army receives first advanced CH-47F helicopter variant
3
Excalibur IB artillery projective enters full-rate production
4
'No U.S. ban' on Iraqi oil, spokeswoman says
5
Analysis: Hamas history tied to Israel
Trending News
Video
x
Feedback