Higher Gas Prices Drove Consumer Prices Up in February

Business

0  Updated at 7:26 am, March 16th, 2012 By: ABC Digital
Share This Story

Kevork Djansezian/Getty Images(WASHINGTON) — Consumer prices in the United States rose by 0.4 percent in February, according to the latest report from the Commerce Department.  That’s the biggest jump in 10 months.

Much of the increase is because of higher gas prices.  If you take out food and gas, the core rate of inflation remains tame, gaining just 0.1 percent last month.

Even so, consumers are feeling the pressure.  Over the past year, prices have increased by about 3 percent — that’s slightly above average wage hikes, meaning many Americans with full time jobs are still struggling to maintain their standard of living.

Copyright 2012 ABC News Radio

Stories You May Be Interested In:

Deseret Book building new store in Idaho Falls

16 May 2017

Paul Menser, BizMojo Idaho

EAST IDAHO NEWSMAKERS: The owners of Fin Fun

21 May 2017

Nate Eaton, EastIdahoNews.com

Kentucky Girl Scout leader accused of stealing $26,000 worth of cookies

17 May 2017

Ivaylo Vezenkov and Lauren del Valle, CNN