The Bureau of Labor Statistics reports everything is getting more expensive, but consumers didn’t need official proof that money is flying out of their wallets faster and not stretching as far.
The Consumer Price Index for All Urban Consumers increased 0.4 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today.
Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.
Energy costs increased in April as the gasoline prices continued to rise. Filling the tank accounted for almost half of the seasonally adjusted all items increase.
Don’t miss a thing. Get breaking news alerts delivered right to your inbox
However, there is good news on the horizon at least according to the Automobile Club of Southern California’s Weekend Gas Watch which is reporting a drop in pump prices.
Their data shows the average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $4.268 per gallon, which is 2.1 cents lower than last week, eight cents higher than last month, and $1.13 higher than last year.
“Crude oil prices took a big tumble last week, and California wholesale gasoline prices are now reportedly around $3.10 a gallon,” said Auto Club spokesperson Jeffrey Spring.
The Bureau of Labor Statistics reported that the household energy index rose, with electricity and natural gas posting increases.
The food index increased as well in April, though the 0.5 percent rise in the food at home index was the smallest increase this year.
If you prefer a balanced meal of meats and vegetables, you’ll find your dinner plate a bit wobbly when making a price comparison. Meats, poultry, fish, and eggs, dairy and related products, and nonalcoholic beverages all posted notable increases.
Fresh vegetables costs, however, did decline following months of recent cost increases.
The index for all items less food and energy rose 0.2 percent in April, the third increase of that size in the last four months.
Major contributions to that increase included those for new vehicles, used cars and trucks, medical care, and shelter.
The 12-month increases of major indexes continue to climb. The all items index rose 3.2 percent for the 12 months ending April 2011, the highest figure since October 2008.
The energy index has now risen 19.0 percent over the last 12 months, with the gasoline index up 33.1 percent.
The food index has risen 3.2 percent while the index for all items less food and energy has increased 1.3 percent; both figures represent increases over recent months.
For Bureau of Labor Statistics charts and graphs click here.