Housing slump offsets energy rise to keep CPI down
(NEWSER) - Consumer prices saw only modest gains last month, welcome news for inflation watchers with an eye on rising oil prices and a dropping dollar. The Consumer Price Index rose 0.3%, in lockstep with analysts' estimates. Core CPI, which excludes food and energy, rose 0.2%. Year-over-year, the increases were 3.5% and 2.2% respectively, with the latter just above the Fed’s presumed 1%-2% comfort zone, the Wall Street Journal reports. More»