Annual U.S. Inflation Rises 2.6%, Consumer Prices Edge 0.2% Higher in January
The cost of living in the U.S. rose less than expected in January, as Americans paid less for new cars, clothes, hotels, homes and other shelter-related costs, the government reported Friday.
However, the price of energy continues to be a burden with increases during the month and year that drove inflation higher over the past 12 months, according to the Labor Department.
The Consumer Price Index (CPI), which is the government’s most closely watched barometer for measuring inflation at the consumer level, rose 0.2% in January for the fifth consecutive month. The figure is lower than the 0.3% increase most analysts were forecasting.
"Despite the extraordinary fiscal and monetary stimulus injected into the economy, many prices are still stagnant or declining," Dan Greenhaus, chief economic strategist for Miller Tabak, wrote in a research note on Friday that was quoted on NYTimes.com. Adding, "The pricing situation still remains fragile."
2010 US Inflation Calculator and Rate Updates
The cost of living for Americans increased in January, but at a slower pace than most economists were forecasting.
Consumer prices edged up 0.2% for the month and annual inflation rose 2.6%, according to the Consumer Price Index, or CPI, data released by the Labor Department on Friday. The same December readings came in at 0.2% (revised upward from 0.1%) and 2.7%, respectively.
The CPI is the government’s key inflation barometer, measuring inflation at the consumer level. January’s increase marks the fifth straight month of 0.2% gains. Most analysts were expecting a rise of 0.3%. Either inflation level is tame. Read more
Annual U.S. Inflation Rises 2.7%, December Inflation Rate Climbs 0.1%
Consumer prices shifted slightly higher in December but the annual inflation rate jumped due to rising energy costs, the Labor Department reported Friday.
US consumer prices increased modestly at 0.1% last month, which was down from a 0.4% increase in November and marked the lowest reading since July. Most forecasters were expecting a 0.2% increase.
"Consumer pricing pressures remain very subdued," Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, was quoted on Bloomberg. "It gives the Fed further leeway to continue keeping rates where they are well through 2010."
The government’s Consumer Price Index, which measures inflation pressures at the consumer level, rose 2.7% on an annual basis in 2009 — the biggest gain since 2007. By comparison, American’s paid just 0.1% more for goods and services in 2008. The contrasting difference was primarily driven by higher energy prices, with gasoline up 53.5% in 2009 after declining 43.1% in 2008. Read more
US Inflation Rates, Historical Information and Calculator Updates
The cost of living increased in December but prices actually rose less than expected, the latest data from the government reveals.
American consumer prices inched 0.1% higher last month. That drove the inflation rate up 2.7% in 2009 from a year ago, according to the Consumer Price Index, or CPI data provided by the Labor Department on Friday. The CPI is the government’s key inflation barometer.
The modest increase in December, which was 0.1% lower than many forecasts, compares to a 0.4% pickup in November. The aforementioned 2.7% annual inflation rate compares to 0.1% inflation in 2008. Higher gasoline prices account for much of the difference.
"The larger increase was primarily due to the energy index, which rose 18.2 percent during 2009 after falling 21.3 percent in 2008. The energy upturn was caused by the gasoline index, which rose 53.5 percent in 2009 after declining 43.1 percent in 2008," the Labor Department’s report states.
Excluding volatile food and energy costs, the core CPI rose 1.8% in the past 12 months versus the 1.7% rise reported in the prior month. 2009’s increase matched 2008. The core CPI in December was also up 0.1% Read more
U.S. Inflation Jumps 1.8% in Past 12 Months, Consumer Prices Up 0.4% in November
US inflation over the past 12 months returned to positive territory for the first time since February, according to government data released Wednesday.
The latest Labor Department monthly report reveals that the Consumer Price Index, which measures inflation pressures at the consumer level, increased 1.8% from a year ago, and rose 0.4% in November.
The November reading was inline with most analysts’ expectations, and follows a 0.3% gain in October. The cost of living for Americans increased due to several categories, but was led by 4.1% jump in energy prices — the fourth straight monthly increase. Oil prices shot up 9%. Gasoline prices notably rose as well, soaring 6.4% in November after an increase of 1.6% in the month prior.
The so-called core consumer index that excludes the more volatile food and energy items was unchanged in November, marking the first month in ten without an increase. Analysts were expecting a 0.1% increase. The core CPI rose 0.2% in October. Read more
Inflation Calculator, American Inflation Rates and CPI Data Updates
Americans paid more for energy and medical care in November, bringing the cost of living up from a month earlier, according to a government report released on Wednesday.
The Labor Department’s Consumer Price Index, or "CPI" for short, climbed 0.4% last month following a 0.3% pick up in October. The increase is inline with most expectations. Leading consumer prices higher were energy costs which jumped 4.1%. Energy prices have risen for four consecutive months. Food prices rose only slightly.
Removing food and energy costs, the core CPI remained unchanged after a gain of 0.2% in October. The flat reading is a stark contrast to the 10 straight prior increases. Many economists were forecasting a rise of 0.1%.
On an annual basis, inflation rose by 1.8% as compared to the 0.2% drop in the prior 12 months reported in October. Read more
Annual U.S. Inflation Down 0.2%, Consumer Prices Rise 0.3% in October
U.S. consumer prices rose more than expected in October as higher fuel and new and used car prices drove up the cost of living for Americans, according to government data released Wednesday.
The newest Labor Department monthly report reveals that the Consumer Price Index (CPI) edged 0.3% higher, exceeding the 0.2% expectations voice by economists. The increase — the fifth in six months — follows a September elevation of 0.2% which came on the heels of a 0.4% rise in August.
"The latest CPI report does not alter the underlying picture and we continue to expect weaker inflation in 2010 as a result of the substantial amount of spare capacity in the economy," wrote Anna Piretti, an economist for BNP Paribas, who was cited on MarketWatch.
Energy prices were also up for the fifth time in the last six months. The indexes for gasoline, fuel oil, natural gas, and electricity all increased. New car prices rose sharply, jumping at a rate that has not been seen since the 1980s.
In October, core consumer prices or core inflation, which excludes volatile food and energy prices, rose by 0.2% after increasing by the same level in September. That was also 0.1% more than many analysts had expected. Read more
Inflation Calculator, US Inflation Rates and CPI Data Updates
The cost of living in the US rose more than expected in October, as Americans paid more for fuel, food and new cars, the government reported Wednesday.
Consumer prices rose 0.3% in October after a 0.2% increase in September, according to the latest Consumer Price Index (CPI) data released by the Labor Department. The increase is 0.1% higher than many economists had forecasted. The good news for consumers is that prices are down 0.2% from a year earlier.
"I don’t see anything in the report that suggests there’s any real inflation flare-up," Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York, said on Bloomberg. "The Fed is comfortably on hold."
In October, energy prices climbed 1.5% while food prices advanced 0.1%. Prices for new cars rose 1.6%, the biggest increase in 28 years. Read more
US Consumer Prices Edge Higher in September, 12-Month Inflation Down 1.3%
US consumer prices inched slightly higher but at a slower pace in September than in August, government released data revealed Thursday.
The Consumer Price Index rose 0.2% last month following a 0.4% increase in August, according to the latest monthly CPI report from the Labor Department. Excluding volatile food and energy prices, the so called core CPI also increased by 0.2%. The same August reading was up by 0.1%.
The latest data again eases concerns of rising inflation — at least for now — as a result of the Fed injecting an unprecedented amount of money into the US economy to stir the recovery.
"Today’s figures won’t shift the argument about inflation risks at the Fed. They don’t show deflation, but nor do they show sufficient inflation pressures to make the doves want to tighten soon," Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, was quoted on Reuters.
US Inflation Calculator, Inflation Rates Update
US inflation is contained for at least one more month as consumer prices edged slightly higher in September, the government reported Thursday.
Consumer prices rose slightly at 0.2% following a 0.4% increase in August, according to Consumer Price Index data released by the Labor Department. Prices were held in check by falling food costs and moderating energy bills.
"Inflation remains muted," Jennifer Lee, an economist at BMO Capital Markets in Toronto, was quoted on Bloomberg. "There is still much excess capacity to absorb, retailers are still fighting for their share of consumers’ shrinking wallets."
Annual inflation is down 1.3% after the 1.5% reading in August. It was the seventh consecutive monthly decline. Read more