Tagged: Economy

Consumer prices rose 0.4 percent in February from January, the Bureau of Labor Statistics just reported. The increase — the largest in the past 10 months — was mostly fueled by higher prices for gasoline.

Excluding the food and energy sectors, prices rose 0.1 percent. That's a sign that the so-called core rate of inflation remains in check.

According to BLS:

-- Gas prices spiked 6 percent last month and were up 12.6 percent from February 2011.

There was a 14,000 decline in the number of people filing first-time claims for unemployment insurance last week, the Employment and Training Administration just reported:

"In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week's revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week's revised average of 355,750."

Gasoline prices have risen about 50 cents a gallon since January. The national average for regular gas stands at just above $3.80 per gallon.

Pity the drivers on the West Coast. Prices there have been much higher. At a Chevron station in Culver City, Calif., the price on Tuesday was $4.45 a gallon.

"I do building maintenance," Ursula Matthews said as she filled her tank. "I do a lot of driving from place to place. It's hurting me. I cannot raise the prices [of my services] with the economy what it is."