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Inflation hits 0.8 percent increase following decline in previous period; gas and alcohol contribute

Post by C.R. Roberts / The News Tribune on March 15, 2013 at 2:13 pm with No Comments »
March 15, 2013 3:56 pm

Inflation is up. Blame the twin fuels of alcohol and gasoline.

The Bureau of Labor Statistics on Friday released its latest look at the Tacoma-Seattle Consumer Price Index. Overall prices in the area rose 0.8 percent for the two months ending in February.

The February figure follows a decline of 1.4 percent marked in December. Not since last April, when prices rose 0.9 percent, has the CPI registered so high an increase.

The primary contributor to the upswing was gasoline, which recorded an increase of 8.4 percent for the two months. Alcoholic beverages showed a 2.2 percent increase, and registers a 4.8 percent increase since February 2012, the bureau said.

The only category to show a decrease in February was medical care, which dipped a negligible 0.1 percent.

In other categories, the price of groceries was up 0.2 percent and restaurant meals higher by 0.4 percent. Clothing wore a 2.9 percent increase, while electricity plugged ahead 0.7 percent.

Recreation played a 1.4 percent increase for the two months, and shelter prices rose 0.2 percent while furniture chaired a 0.9 percent hike.

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