Consumer prices increased at their fastest rate in four months last month as inflation makes its mark on the nation’s economy.
Economists believe that the Federal Reserve will become more aggressive the raising of interest rates.
According to an article at The Seattle Times,
“The figures followed the Federal Reserve’s warning Tuesday that inflation pressures had picked up recently, a signal that the central bank might have to push interest rates up more aggressively in coming months to keep inflation under control.
Consumer prices have risen faster than wages for most workers during the past year, which means average weekly earnings have fallen on an inflation-adjusted basis, the Labor Department reported.”
An article at Boston.com says,
“The consumer price index jumped 0.4 percent in February as costs rose for items like energy, healthcare, and education. The pickup in inflation came after consumer prices were flat in December and increased by just 0.1 percent in January.
Separately, the National Association of Realtors reported that sales of previously owned homes dipped 0.4 percent in February to a seasonally adjusted annual rate of 6.79 million. But while sales fell, home prices continue to rise sharply. The median price for existing homes — where half sell for more and half sell for less — was $191,000 in February, an 11 percent increase from the same month a year ago.”
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