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U.S. Consumer Inflation Jumps
Published in Saudi Press Agency on 20 - 04 - 2006

U.S. consumer prices jumped in March, reflecting higher costs for gasoline, while “core prices—which exclude volatile energy and food costs—increased by the largest amount in 12 months.
The Labor Department reported that its closely watched consumer price index (CPI) rose by 0.4 percent last month, led by higher gasoline prices, which jumped by 3.6 percent. CPI rose a modest 0.1 percent in February.
Core CPI rose 0.3 percent in March, the biggest gain since a similar increase in March 2005. Analysts said the rise could be a worrisome signal that higher energy prices are starting to cause more widespread inflationary pressures in the rest of the U.S. economy.
Through the first three months of the year, overall inflation has been rising at a 4.3 percent annual rate, far above the 3.4 percent price increase for all of 2005. The price acceleration reflects rising energy costs, which are up 21.8 percent at an annual rate through March, compared to a 17.1 percent rise for all of 2005.
Core inflation is up a 2.8 percent annual rate for the first three months of the year, somewhat higher than the 2.2 percent increase for all of 2005.
CPI report contrasted with data released prices at the wholesale level contained, except for energy and food. The producer price index (PPI) rose 0.5 percent in March, but the core increase—excluding energy and food—rose only 0.1 percent.
The two inflation reports offer a mixed picture, but most analysts believe that inflationary pressures are expected to remain contained.


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