Home
Local consumer prices soar in latest period
By Paul Schweizer
INQUIRER STAFF WRITER
May 14, 2008
Consumer prices in the Philadelphia area rose 1.2 percent in the March-April period, the biggest two-month rise since the summer of 2006, the Bureau of Labor Statistics reported today. The biggest culprits were costs for housing, transportation and apparel, but Sheila Watkins, the bureau's regional commissioner in Philadelphia, said all eight major categories in the local consumer price index rose.
Unlike the national numbers, which are reported monthly, the Philadelphia area's consumer prices are measured by the bureau every other month. Nationally, consumer prices rose 0.2 percent in April, today's report said.
For the March-April period, local housing costs were up 0.9 percent. This was led by a 2.0 percent hike in the component for home fuel and utilities. Shelter prices - including rent or mortgage and insurance - also rose.
Transportation prices increased 2.3 percent in the two-month period, "dominated by higher gasoline prices," which were up 8.9 percent, the bureau said. Prices for new and used vehicles fell, however.
Apparel was up 6.8 percent, paced by higher prices for girls' clothing. It was the largest two-month gain in apparel prices locally in more than two years, the government said.
Local food and beverage prices increased 0.6 percent in the March-April period, mostly attributed by the bureau to higher costs for food at home. That was up 1.2 percent.
Copyright 2008
Powered By Zebra Mobile