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Consumer Prices in U.S. Rose in February as Gasoline Jumped

Bloomberg -- The cost of living in the U.S. rose in February by the most in 10 months, reflecting a jump in gasoline that failed to spread to other goods and services.

The consumer-price index climbed 0.4 percent, matching the median forecast of economists surveyed by Bloomberg News, after increasing 0.2 percent the prior month, the Labor Department reported today in Washington. The so-called core measure, which excludes more volatile food and energy costs, climbed 0.1 percent, less than projected.

The biggest jump in gasoline in more than a year accounted for about 80 percent of the increase in prices last month, leaving households with less money to spend on other goods and services. Federal Reserve policy makers say the advance in fuel costs will be temporary, and most see little risk inflation..

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Submitted Mar 16, 2012 By: CosmicP

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dave27johnson Champion Author Chicago Posts:1,818 Points:432,095 Joined:Feb 2012	Message Posted: Mar 17, 2012 10:45:29 AM Ignore dave27johnson Report Abuse “There are some worries from the energy prices perspective, but the Fed and most people realize that the increase will probably be transitory,” said Benjamin Reitzes , an economist at BMO Capital Markets in Toronto. “Outside of energy prices, there is not much risk for the consumer.”
wild3bill Champion Author New York Posts:2,551 Points:1,694,815 Joined:Nov 2005	Message Posted: Mar 16, 2012 3:29:28 PM Ignore wild3bill Report Abuse Shoot the Messenger who brough the no inflation fairy tale!
eomc17 Champion Author Tucson Posts:1,840 Points:135,330 Joined:Mar 2007	Message Posted: Mar 16, 2012 2:20:02 PM Ignore eomc17 Report Abuse Advance in fuels costs TEMPORARY???? My *ss. Remember how long gas prices kept rising LAST year, despite falling oil prices and gas futures prices??? And why isn't Obama kicking the CFTC to obey the law requiring them tl curb speculation, which they are ignoring due to "industry pressure"?. If I openly ignored a law for 14 months I would have been arrested and possibly jailed. I have no confidence in our govt or president to ever meet my needs to make my life easier. I thought Bush was bad, but in the last 3 years I lost 4 jobs, a foreclosed home, went bankrupt, and lost my family through divorce. This is reality, not the propaganda Obama constantly feeds us about how much he is doing for us. I have never voted GOP before but I cannot stand 4 more years of Obama's half-truths and lies.
schatzila Champion Author Los Angeles Posts:5,084 Points:1,043,345 Joined:Jun 2010	Message Posted: Mar 16, 2012 1:07:53 PM Ignore schatzila Report Abuse wow thanks, I would've never known.
dhdiesel Veteran Author Riverside Posts:400 Points:44,800 Joined:Feb 2012	Message Posted: Mar 16, 2012 12:59:41 PM Ignore dhdiesel Report Abuse From economicpolicyjournal dot com : "The Consumer Price Index increased 0.4 percent in February on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. This is an annualized rate of 4.8 percent. On an non-seasonally adjusted basis the CPI for the month also increased 0.4 percent. The gasoline index was a key driver of the climb. The index soared 6 percent in February (an annualized rate of 72 percent). The food at home index has risen 4.5 percent over the last 12 months." [AND THESE ARE THE GOVT'S MASSAGED NUMBERS!!] From the article: "Paychecks are failing to keep up with even limited inflation, another Labor Department report today showed." No kidding, Sherlock!
Penny_Pincher Veteran Author Columbus Posts:435 Points:22,695 Joined:Aug 2005	Message Posted: Mar 16, 2012 10:55:59 AM Ignore Penny_Pincher Report Abuse According to the article consumer prices actually did NOT rise. Only gas did. This is a very misleading headline. I'll post a more accurate summary of these data.
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: Mar 16, 2012 10:49:34 AM Ignore buckets42 Report Abuse The "administration" can'r administrate!
Tigercat88 Champion Author North Carolina Posts:3,332 Points:643,590 Joined:Jul 2011	Message Posted: Mar 16, 2012 10:47:04 AM Ignore Tigercat88 Report Abuse The Obama admistration is still telling that there is no inflation.
mwc407 Champion Author North Carolina Posts:1,095 Points:575,635 Joined:Jan 2011	Message Posted: Mar 16, 2012 10:43:58 AM Ignore mwc407 Report Abuse No shock that a big increase in gas prices trickled down to increase consumer prices. It's all about distribution and no matter what you are buying, it most likely had to travel by truck, air, or sea to get to the retailer - and all of the shippers are burning fuel and passing the costs along.
TomT2Lee Champion Author Cincinnati Posts:5,471 Points:1,623,135 Joined:Sep 2005	Message Posted: Mar 16, 2012 10:26:59 AM Ignore TomT2Lee Report Abuse Excellent comment tnfran.
fuel2use Champion Author Seattle Posts:3,609 Points:757,945 Joined:Dec 2010	Message Posted: Mar 16, 2012 10:22:00 AM Ignore fuel2use Report Abuse I believe it.
tnfran Champion Author Arizona Posts:4,513 Points:868,165 Joined:Dec 2010	Message Posted: Mar 16, 2012 10:03:58 AM Ignore tnfran Report Abuse NOT A TRUE NUMBER!!! Too bad they don't include energy costs and people would see where it really is. Figures don't lie but LIARS FIGURE> [Edited by: tnfran at 3/16/2012 10:05:05 AM EST]