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By BLOOMBERG NEWS | March 18, 2004
WASHINGTON - Prices paid by U.S. consumers rose 0.3 percent in February, pushed higher by rising costs for gasoline and medical care. Excluding energy and food, core prices increased 0.2 percent, the same as in January. The rise in the Consumer Price Index followed a 0.5 percent gain in January, when energy costs increased the most since the war in Iraq, the Labor Department said yesterday. Core prices were 1.2 percent higher in the 12 months that ended in February. The Consumer Price Index is the government's broadest gauge of costs for goods and services.
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NEWS
April 11, 2013
President Barack Obama didn't release his proposed budget for 2014 until Wednesday, but liberals and the AARP have been howling all week about something they expected to be in it. What has our president done to provoke such outrage among his supporters? He's chained CPI. In an attempt to meet Republicans halfway in the battle over taxes and spending, Mr. Obama has offered to change the formula for calculating Social Security's annual cost-of-living increase - an "entitlement reform" GOP leaders have long asked for. The result would not change current Social Security benefits, but it would reduce future raises by an estimated three-tenths of 1 percent in the first year, or about $42 for the average beneficiary.
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NEWS
By NEW YORK TIMES NEWS SERVICE | December 1, 1996
WASHINGTON -- A panel appointed by Congress is expected to recommend this week that the government create a price gauge that would more accurately reflect inflation -- a move that would result in less-generous increases in Social Security payments and other benefits but would also help lower the deficit, officials said.One high-ranking official with knowledge of the panel's report said Friday that the proposed index would better reflect what consumers buy each year.It would largely, perhaps entirely, supplant the Consumer Price Index as the gauge used to calculate cost-of-living increases and adjust segments of the tax system for the effects of higher prices, the official said.
BUSINESS
By Mike Hughlett and Mike Hughlett,Tribune Newspapers | March 27, 2009
While prices might still seem painfully high in the supermarket aisles, long-suffering consumers are beginning to see a break in their grocery bills - a bit of good news amid the economic gloom. Falling raw-material costs coupled with a feeble economy have curbed soaring food inflation in recent months. Food prices fell on a month-to-month basis in February for the first time since April 2006. Last year, food and beverage prices as calculated by the Bureau of Labor Statistics rose 5.4 percent, the largest annual jump since 1990, because of a big run-up in commodity and energy costs.
NEWS
June 8, 1994
The release dates of several economic indicators were incorrectly reported in Monday's Business section. Figures for the Consumer Price Index will be released June 14; those for factory use, industrial production and business inventories, June 15; and those for housing starts, June 16.The Sun regrets the errors.
BUSINESS
February 20, 2005
A weekly briefing on the economic calendar Event of the week The Bureau of Labor Statistics on Wednesday releases the Consumer Price Index and core CPI for January. The CPI for December was up 0.2 percent, and consensus estimates are for the inflation indicator to edge up the same amount in January. Tuesday Consumer confidence report for February. Earnings reports: Domino's Pizza, Federated Department Stores, Home Depot, Hormel Food, Omnicom, Smithfield Foods, Westwood One, Jackson Hewitt, Novell Wednesday Earnings reports: Cablevision, Dollar Tree, Lowe's, Martha Stewart, MCI, Nextel Partners, William Cos., World Wrestling Entertainment.
BUSINESS
October 17, 1996
While prices rose 0.3 percent across the country last month, they have fallen recently in metro Baltimore, according to the Department of Labor. The Consumer Price Index for the region fell 0.2 percent in August and September.At least one analyst thinks a falling Baltimore CPI reflects a tepid regional business climate."My reading of it is, the economy is quite soft," said Charles McMillion, chief economist for MBG Information Services in Washington.Government officials, however, said short-term dips sometimes are caused by seasonal fluctuations.
BUSINESS
By Chicago Tribune | November 12, 1990
Depending on which indicator you follow, inflation is virulent or it has disappeared. Consider last month's wholesale price report. It said overall prices rose 1.1 percent, an unacceptable level by any measure; but when oil and food prices were excluded, there was no inflation at all. The quandary for the Federal Reserve is which yardstick to believe. If inflation is gone and the country is staggering toward recession, the answer would be clear: Let interest rates fall and put the economy back on track.
BUSINESS
By JAY HANCOCK and JAY HANCOCK,jay.hancock@baltsun.com | February 15, 2009
Economists worry about deflation - a persistent, broad decline in consumer prices that sometimes accompanies severe recessions. Deflation can lead to lower wages and other income, which makes it difficult to handle debt. Deflation can also accelerate a recession because consumers postpone buying, knowing prices will be lower next month. But fear not. A trip through the statistics shows that some costs continued to rise in December even as the overall consumer price index plunged. A few industries are still minting money.
BUSINESS
By MARKETWATCH | April 20, 2006
WASHINGTON -- U.S. core inflation rose at the fastest pace in a year in March, the Labor Department said yesterday, rekindling expectations that the Federal Reserve might have to raise interest rates a few more times. The core Consumer Price Index - the measure of retail-level inflation that excludes food and energy prices - increased 0.3 percent last month, matching the March 2005 gain. Overall, consumer prices rose 0.4 percent in March, led by higher energy prices. The increases in both the Consumer Price Index and core prices were above Wall Street expectations.
BUSINESS
By JAY HANCOCK and JAY HANCOCK,jay.hancock@baltsun.com | February 15, 2009
Economists worry about deflation - a persistent, broad decline in consumer prices that sometimes accompanies severe recessions. Deflation can lead to lower wages and other income, which makes it difficult to handle debt. Deflation can also accelerate a recession because consumers postpone buying, knowing prices will be lower next month. But fear not. A trip through the statistics shows that some costs continued to rise in December even as the overall consumer price index plunged. A few industries are still minting money.
BUSINESS
By New York Times News Service | November 28, 2008
For more than a year, food manufacturers have been shaving package sizes and raising prices, declaring that they had little choice because of unprecedented increases in the cost of raw ingredients like corn, soybeans and wheat. Now, with the price of grains and other commodities plunging, it may seem logical that grocery prices will follow. But while some grocery items like milk and fresh produce are dropping, the prices of most packaged items and meat are holding firm or increasing. Experts warn that consumers should not expect lower prices any time soon on most items at the grocery store or in restaurants.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | November 20, 2008
When prices fall for clothes, gasoline and other goods and services, it's good news for consumers who are facing increasing financial pressure in an ailing economy. Consumer prices fell by 1 percent last month compared with September, mostly because of plunging energy prices, according to federal data released yesterday. It was the largest single-month drop in the 61-year history of the consumer price index, highlighting the cost cuts that retailers and others are making in hopes of calming jittery shoppers.
BUSINESS
By JAY HANCOCK and JAY HANCOCK,jay.hancock@baltsun.com | November 2, 2008
A reader asks: Could you explain what is bad about deflation? I understand why inflation is bad, and I presume that deflation is the opposite of inflation. If so, why is it bad if my money is increasing in value rather than decreasing? The short answer is that deflation, like inflation, can kill demand and productive economic growth. Deflation is a persistent and broad decrease in prices. It arrives when there is too much supply, especially of capital goods, and too little demand. (The real estate market, with 11 months' supply of empty homes trying to get sold, is the primo example.
BUSINESS
By EILEEN AMBROSE | January 15, 2008
Fill up your gas tank or buy a gallon of milk, and you can't help but think that the inflation rate that comes out each month doesn't reflect the pounding your wallet is taking. That's Lois' complaint. The Baltimore County retiree's pension and Social Security benefits are pegged to the Consumer Price Index. This year, for instance, her Social Security benefits will go up 2.3 percent. Yet the price of one of her prescription drugs has shot up 50 percent in the past five months. "Every time I buy milk, it's gone up. Bread is almost $3 for a loaf.
BUSINESS
By Carolyn Bigda and Carolyn Bigda,TRIBUNE MEDIA SERVICES | January 6, 2008
The stock market didn't offer impressive returns in 2007. But one area of the economy had a comparatively banner year: milk. Yes, the price of milk and other goods, such as eggs or a tank of gasoline, grew at a rate that would make stock investors faint with joy. From the start of the year through November, fresh milk prices rose 23.2 percent, according to the latest data from the Bureau of Labor Statistics. Meanwhile, the S&P 500 returned 3.5 percent for the year; the Dow Jones industrial average did a bit better at 6.4 percent.
NEWS
January 10, 1994
WE Americans are so used to being ripped off by our government that it comes as a surprise to learn that some of us unwittingly have been ripping off the government ourselves.Here's the scoop: It seems as though Uncle Sam hasn't been too accurate in computing the consumer price index, the fabled CPI that is used to determine certain financial interest rates, the annual increase in Social Security payments, wages in many labor contracts, office building leases and even some alimony payments.
BUSINESS
By GREGORY KARP and GREGORY KARP,The Morning Call in Allentown, Pa | September 2, 2007
If you haven't noticed rising prices at the supermarket lately, you haven't been paying close attention to your spending. Food prices are soaring. Over the past year, prices for some basic grocery staples are rising faster than at any time over the past decade, according to July figures of the Consumer Price Index. Across America, frozen orange juice prices are up 31 percent over a year earlier; eggs and whole wheat bread up 24 percent; milk up 21 percent; sticks of margarine up 17 percent; coffee and chicken breasts up 12 percent; ground chuck up 11 percent; and soft-drink colas up 10 percent.
BUSINESS
By McClatchy-Tribune | June 12, 2007
Rising gasoline prices have been getting all the attention, but the cost of another, more-important staple is actually rising more: food. In the past year, food prices have risen 3.7 percent and are on track to increase as much as 7 percent by year's end. The current increase is more than double the 1.8 percent increase last year, according to the Consumer Price Index. Meanwhile, gasoline prices rose 2.9 percent, with only the cost of health care rising more, and then just slightly. While companies up and down the food chain see the increases, they're only beginning to pass them on to consumers.
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