Posted on 05/13/2011 7:20:07 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — The prices that American consumers paid for goods and services rose 0.4% in April, with higher gasoline costs accounting for more than half the increase, the government reported Friday.
Economists surveyed by MarketWatch had expected the consumer-price index, which tracks the cost of living, to increase 0.4% in April.
Consumer prices have jumped an unadjusted 3.2% over the past year, the largest 12-month increase since October 2008. As recently as November, the 12-month increase was 1.1%.
Surging oil prices accounted for the bulk of the CPI increase, as the energy index jumped 2.2% last month. Energy prices have leaped 19% — and gas has surged 33% — over the past 12 months. As a result, the cost of gas now tops $4 a gallon in many parts of the U.S.
(Excerpt) Read more at marketwatch.com ...
Misery Index Ping.
From the article:
“Surging oil prices accounted for the bulk of the CPI increase, as the energy index jumped 2.2% last month”
“Food prices rose 0.4% last month, but that was smaller than March’s 0.8% increase”
“Stripping out food and energy, the so-called core rate of consumer-price inflation rose 0.2%”
I heard on of the Fox News folks, I think it was Beck, say that if the Government still used the formulas they used in the 1970's to measure inflation, it would be over 10% today. If that is true, we are so screwed. Fudged Inflation numbers, fudged unemployment numbers. To quote Obamas former minister, The Chickens are coming home to roost..."
BARBARA STREISAND ... food went up a heck of a lot more than 0.4 or 0.5%
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.