Consumer inflation steady for February |
| Houston Chronicle - Mar 14, 2008 |
Consumer inflation, which had been pushing relentlessly higher, posted its mildest reading in six months in February as the costs of energy and food moderated, although fuel prices have ramped up since then.
The Labor Department reported today that consumer prices were unchanged last month, a much better performance than the 0.3 percent gain that had been expected.
Core inflation, which excludes energy and food, was also well-behaved, with an unchanged reading in February following a worrisome 0.3 percent jump in January.
The better-than-expected February inflation reading could be reversed in coming months, considering the big surge in energy prices in recent weeks. Crude oil hit a record high this week above $110 per barrel and gasoline pump prices jumped to a national record of $3.267.
Read Full Article from Houston Chronicle
- Posted: 2008-03-14 09:55:31
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