November 27, 2014

Consumer Price Index inches higher

It’s official – energy costs are higher this year than last. That’s according to the U.S. Bureau of Labor Statistics.
The agency is reporting that in August, the consumer price index, or a measure of the average change over time in the prices paid by consumers, increased by .7 percent in the midwest after three months of limited movement.
Motor fuel prices led the pack notching up 8.9 percent last month. Overall, energy costs rose 5.6 percent, while food prices inched .2 percent higher. The index for all items except fuel and energy was virtually unchanged in August.
The CPI in the midwest rose 1.8 percent from August 2011 to August 2012. Prices in the midwest outpaced those in other parts of the country. Over the same period, prices in the northeast and west rose .5 percent. In the south, CPI rose .6 percent.

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