Consumer Prices in U.S. Climbed in April by Most Since 2013

[Purveyor]

Source: Bloomberg

The cost of living in the U.S. climbed in April by the most in three years an indication that inflation may be picking up toward the Federal Reserve’s goal.

Consumer prices increased 0.4 percent, the biggest gain since February 2013, following a 0.1 percent advance in March, a Labor Department report showed Tuesday in Washington. The so-called core measure, which strips out food and energy costs, rose 0.2 percent after a 0.1 percent gain the prior month.



The biggest jump in gasoline prices in almost four years is leading a rebound in fuel costs that is laying the groundwork for overall inflation to climb higher, while a slight weakening in the dollar will support a pickup in core prices to a level near the Fed’s 2 percent target. A strengthening job market is also helping boost pay, which may prompt companies to raise prices to prevent profits from weakening.

“We’re seeing budding, but by no means in full bloom, inflation,” said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh, Pennsylvania, who correctly forecast the increase in consumer prices. “Some of that is just a reversal of the huge fundamental decline in oil and gasoline that we’ve seen, and the other part is the service side of the economy.”



Read more: http://www.bloomberg.com/news/articles/2016-05-17/consumer-prices-rise-by-most-since-2013-as-u-s-inflation-stirs

[Warpy]

1. And wages have...?

Yeah, right. And the power brokers and king makers wonder why Sanders and Trump are doing so well with young and/or working class voters.

I keep waiting for them to connect the dots but apparently they think that $7.25/hour is enough for everybody who isn't them to live on.

[raccoon]

2. I was thinking something similar. Whose wages have gone up? Crickets. nt

[Babel_17]

4. And pensions are flat, or getting cut

The Republican establishment is being rejected due to the erosion of the less wealthy classes. We have an opportunity here to be champions, even heroes.

[passiveporcupine]

5. Not just wages. SS got no cost of living raise for 2016.

I find that so strange, as prices for everything (and I mean everything) have been going up every year for some time now...prescriptions too.

SS people need their prescriptions, but somehow, that doesn't count in the cost of living index.

Every bill I have has gone up yearly (except my auto insurance,which has maintained)...electricity, phone and internet, irrigation water, property taxes, prescriptions, groceries, animal food and care products, consumables like linens and yard supplies and clothing, auto and maintenance prices, services like snow plowing and other necessary things for living in the country in snow country. Where are they getting this info that senior's cost of living hasn't gone up for a year? What...are we all supposed to move to Arizona and go nude?

They just don't give a damn.

[Javaman]

3. gas goes up, prices go up. funny thing though...

since the price of gas had gone down, the price of everything else still stayed the same.

funny that.

[CountAllVotes]

6. Wall street made a killing

and walked away with their pockets full and they continue to collect more. It never trickled down!

Sanders 2016!!