Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Food feeds cost-of-living increase
WASHINGTON (5/16/14)--­The volatile costs of food and gas in April spiked the consumer price index to its largest gain since June, according to the Bureau of Labor Statistics.
 
The seasonally adjusted 0.3% increase was the sixth such consecutive move by the index, which measures purchases in eight categories--food and beverages, housing, apparel, transportation, medical care, recreation, education and communication, and other goods and services.
 
A 2.9% hike in the price of beef--the largest cut into consumer budgets since 2003--led the way in food and beverage prices, which saw a 0.4% increase from the month prior. This is the third month that the food index has risen. "The surge in farm prices was a big contributor to producer prices in the last two months," said analysts at Moody's ( Economy.com May 15).
 
In April, energy prices ticked up 0.3%, led by a 2.3% increase in the cost of gasoline.
 
Excluding food and energy, core consumer prices increased 0.2% from March and 1.8% year-over-year.
 
With April payroll levels remaining static, real inflation-adjusted hourly wages decreased 0.3%--the biggest decline in 14 months. The combination of rising prices and stagnant wages is making it harder for consumers to make ends meet ( MarketWatch May 15).


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
13 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
14 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
14 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
15 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
16 hours ago