Inflation Still Low but Many Prices Climbed Anyway in March
(NEW YORK) — After the brutal winter weather of January and February, people who use oil to heat their homes saw costs fall a bit in March along with dropping prices at the pump. However, other homeowners weren’t so lucky as the price of natural gas and electricity were higher than during the comparable period in 2013.
Meanwhile, the persistent drought in the West also drove up costs of meat, produce and dairy at the supermarket. Renters were also hit harder in March as were people who tried to escape winter by vacationing in a nicer climate. High demand also pushed up hotel room prices.
Nevertheless, inflation remains at about 1.5 percent, a half-percent lower than what’s acceptable to the government.
While most people can deal with this inflation rate, it’s those who live from paycheck-to-paycheck who were most affected by the various higher prices in March.
Copyright 2014 ABC News Radio