Thursday, May 15, 2014

Consumer Prices Rose 0.3% in April

Inflation picked up slightly in April with the consumer price index growing 0.3%. The gain is the strongest since last June. Gains were driven by increased gasoline and good prices. The increase from year-ago levels grew to 2.0%, on par with the 2.0% year over year growth goal set by the Federal Reserve.

Core prices maintained the same pace of growth from the month prior, 0.2%. Goods prices grew 0.1%, the first time goods grew since January 2013. Services grew 0.3% in April, the same pace as the prior month. Food prices increased 0.4%, the third consecutive month of strong gains. Energy prices improved 0.3%, and saw the largest year-over-year gains at 3.3%.

The future outlook is positive, as prices are improving, annual growth hit 2.0% and the sluggish winter is over.

Read the BLS report.

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