May. 14, 2008 at 9:21am
The Consumer Price Index for cities around the nation increased 0.6 percent in April, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The April level of 214.823 was 3.9 percent higher than in April 2007.
The index for energy was virtually unchanged after advancing 1.9 percent in March. In April, the index for petroleum-based energy fell 1.6 percent, offsetting a 2.5 percent increase in the index for energy services.
The food index rose 0.9 percent in April. The index for food at home increased 1.5 percent, reflecting substantial increases in all six major grocery store food groups. The index for all items less food and energy advanced 0.1 percent in April, following a 0.2 percent rise in March. Downturns in the indexes for public transportation, for household furnishings and operations, and for recreation, coupled with a larger decline in the index for lodging away from home, more than offset an upturn in the index for apparel.
At the same time, real average weekly earnings fell by 0.5 percent from March to April after seasonal adjustment, according to preliminary data released today. A 0.1 percent increase in average hourly earnings was offset by a 0.3 percent decrease in average weekly hours and a 0.2 percent increase in the Consumer Price Index for Urban Wage.
Data on average weekly earnings are collected from the payroll reports of private nonfarm establishments. Earnings of both full-time and part-time workers holding production or nonsupervisory jobs are included. Average weekly earnings rose by 3.1 percent, seasonally adjusted, from April 2007 to April 2008.
Posted in BE Daily, Law and Legislation by Steve Dunkelberger | Email Steve
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