Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 6:41:09 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Consumer Prices Rise in March; Oil Blasts Past $114

Posted Apr 16, 08 10:22 AM CDT in Business 

(Newser) – Consumer prices rose an anticipated 0.3% in March, propelled by hikes in the costs of energy, food, and airline tickets; a commodities rush and weak dollar also pushed crude oil to a record high today. Energy costs rose 1.9% in March, the AP reports, and the past year has seen huge increases in the prices of bread (14.7%) and milk (13.3%)

Core inflation—excluding food and energy—was up 0.2% for the month. Oil, meanwhile, hit $114.53 on the New York market before dropping back to $113.74 in Europe. Investors harried by the unpredictable performance of the markets continue to seek refuge in commodities. Historic lows for the dollar—$1.5966 per euro—were also to blame for the surge.

Sources Associated Press, Associated Press

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Dollar's Slide Pushing Oil Prices Higher

    Feb 29, 08 7:21 AM CST
    Dollar's Slide Pushing Oil Prices Higher The dollar continued its fall as unrelentingly dismal economic data eroded confidence in the US economy, Bloomberg reports. The greenback set a new low of $1.52 against the euro this morning and hit a three-year bottom against the Japanese yen. Oil surged more than $2 a barrel to $103.05 in Asian trading before closing at $102.92.  More »

  • Oil Tops $99 as Dollar Sinks

    Nov 21, 07 4:05 AM CST
    Oil Tops $99 as Dollar Sinks The price of oil hit a record high mere pennies from $100 a barrel and the dollar sunk to a new low in early trading today. Oil hit $99.29 but slipped back to $98.64. With cold weather hitting the US, and OPEC supplies limited, some analysts think oil prices could hit the $100- a-barrel milestone as early as today. The continued drop in the dollar against other currencies is helping fuel the rise. More »

The landmark Space Needle is seen within view of a sign displaying gas prices.   (AP Photo/Elaine Thompson, File)
A worker empties gasoline into a tank at a gas station.   (AP Photo/Tony Dejak)
A couple walks with bags from Gap outside of a Gap store in San Francisco.   (AP Photo/Jeff Chiu)
A person walks past a clothing store.   (AP Photo/Nati Harnik)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 7)

Tags

US dollar • crude oil • euro • milk • Consumer Price Index • bread


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »