|
Consumer prices in check
|
 |
March 18, 1999: 9:02 a.m. ET
February increase of 0.1% matches January, in line with expectations
|
WASHINGTON (CNNfn) - Inflation at the consumer level remained in check in February, with the consumer price index up 0.1 percent overall and up 0.1 percent excluding food and energy, the Labor Department reported Thursday.
The increases match the levels reported in January and were generally in line with forecasts. Analysts surveyed by Reuters had predicted an increase of 0.1 percent overall and 0.2 percent excluding food and energy.
While the report signals that inflation is now in check, recent increases in oil prices could change the picture.
"Just as a warning: People better start bracing for higher oil prices later in the year," Maureen Allyn of Scudder Kemper Investment told CNNfn.
Energy prices were unchanged in February, with gasoline down 0.5 percent. Heating fuel was up 0.2 percent. Food and housing prices were up 0.1 percent, with apparel prices down 0.2 percent.
Treasury prices added to their gains after the report, which was released at the same time as January trade and weekly jobless claims reports. The U.S. 30-year bond was up 5/32 to 96-16/32, yielding 5.49 percent. Prior to the 8:30 a.m. ET reports, the bond was up 2/32.
|
|
|
|
|
|
Dept. of Labor
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
