The Consumer Price Index rose 0.4% last month. The core rate, excluding energy and food, rose 0.2%. On a year over year basis, inflation returned to the positive after being down 0.2% last month, something not seen since the mid 1950's.
Here is a breakdown of the inflation benchmark to show you where costs are rising most. For February, energy prices rose again and were up 3.28% but are still down 19.1% from one year ago.
- CPI: Up +0.39%
- Ex Food & Energy: Up +.19%
- Food: Down -.10%
- Energy: Up +3.28%
- Housing: Down -.01%
- Apparel: Up +1.28%
- Transportation: Up +1.93%
- Medical Care: Up +.34%
- Recreation: Up +.41%
- Education & Communication: Up +.23%
- Other Goods & Svcs: Up +.17%
The change in the core shows that at least for now, inflation is not an issue. The futures are pointing lower this morning in anticipation of the AIG hearing and Fed meeting in Washington today. In the pre-markets, American Express , Caterpillar , Coca-Cola , Hewlett Packard , and IBM are weighing on the Dow.
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