facebook
twitter
rss
account
search
search
 

Consumer prices dropped in March

April 16, 2013 at 9:32 AM   |   Comments

WASHINGTON, April 16 (UPI) -- Consumer prices dropped 0.2 percent in March, pushing the 12-month inflation rate to 1.5 percent, the U.S. Bureau of Labor Statistics said Tuesday.

Energy prices, which have declined in four of the past five months, dropped 2.6 percent with a 4.4 percent drop in gasoline prices in the month. That partly erases the 9.1 percent jump in gasoline prices in February.

Food prices were unchanged in the month after rising 0.1 percent in February, the department said.

Core prices, which excludes the volatile categories of food and energy, rose 0.1 percent in the month, which put the 12-month rate at 1.9 percent.

At 1.5 percent on a 12-month basis, the inflation rate for all items is well below the 2 percent target rate set by the U.S. Federal Reserve.

© 2013 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
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback