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Consumer Prices Fell in April on Lower Gas Costs

May 16, 2013
gas pump

Consumer prices in the United States dropped a seasonally adjusted 0.4 per cent in April from the previous month as petrol prices fell sharply, the government reported Thursday.

So-called core prices - excluding volatile energy and food costs - rose 0.1 per cent from March, according to the US Bureau of Labor Statistics' monthly study.

In March, prices fell 0.2 per cent, while core prices rose 0.1 per cent.

The continued tame inflation data follows the US Federal Reserve's May 1 decision to leave interest rates unchanged and continue to inject 85 billion dollars a month into the private economy.

The central bank has said it will continue its extraordinarily slack monetary policies until economic growth cuts into persistently high unemployment, unless inflation flares.

For the last 12 months, the consumer price index was up 1.1 per cent. Core inflation was 1.7 per cent in the year through April.

Petrol prices declined 8.3 per cent in April. Food prices were up 1.5 per cent.






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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH


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