From Deseret News archives:
Utah inflation not bad
Increase in national figures has some economists concerned
Wells Fargo Bank reported in its monthly Wasatch Front Cost of Living Index that inflation crept up 0.1 percent on a non-seasonally adjusted basis in March, led by a 0.3 percent bump in transportation costs and 0.2 percent increases in the costs of clothing and groceries.
Meanwhile, the U.S. Labor Department released more alarming data in the form of its Consumer Price Index, which rose 0.4 percent (on a seasonally-adjusted basis) in March the biggest amount the nation has seen in a year, and eclipsing February's modest 0.1 percent gain.
The federal inflation meter, like the local one, was pulled higher by gasoline prices, which the Labor Department said jumped 3.5 percent.
Core inflation, which excludes the more volatile food and energy categories, posted a 0.3 percent rise in March.
Analysts' reactions to the report were mixed.
However, Kelly K. Matthews, executive vice president and economist for Wells Fargo, said that while the jump in core inflation was "the highest monthly number in literally five years in terms of the change in the monthly core basis," a broader analysis lent some perspective to the situation.
"Even though it was 0.3 (percent higher) for the month," Matthews said, "on a year-to-year basis it remained 2.1 percent core inflation, which was pretty much consistent with where the core rate of inflation on a year-to-year basis has continued. So there wasn't really any big jump on a year-to-year basis, and the 2.1 percent is still pretty much on the upper end of what's called the 'acceptable range,' from the Fed's point of view."
Others worried that the core inflation data could be a worrisome signal that higher energy prices are starting to spill over into more widespread inflation pressures.
"Today's report provides a signal, albeit noisy, that the long-awaited pass-through of higher costs to a wide range of consumer prices has arrived," said Kenneth Beauchemin, an economist at Global Insight, a forecasting firm.
Comments
- China: Talk, not sanctions on Iran 7:49 a.m.
- China: US, NKorea talks to succeed 7:48 a.m.
- China manufacturing expanding 7:46 a.m.
- Consumers late on auto payments 7:46 a.m.
- Sheik: Dubai economy 'strong' 7:45 a.m.
- UN slams Swiss minaret ban 7:43 a.m.
- Iran may take action against sailors 7:42 a.m.
- AIG reduces government borrowings 7:41 a.m.
- Oil rises above $78 on Chinese data 7:40 a.m.
- Stock futures point to higher opening 7:40 a.m.
- Hall's pain reflects self-betrayal
- Hall reprimanded by MWC
- Utes won't respond to Hall
- Y. student vanished in China
- Max Hall issues apology
- Cougs begin bowl preparations
- Mitchell called intelligent, controlling
- Teen shot in scuffle with trooper
- Daughter: Mitchell fed me my pet
- Matthews passes new Jazz tests
- Hall mouths off about hate of Utah
898 - Cougars beat Utes in overtime
481 - Max Hall issues apology
380 - Hall reprimanded by MWC
379 - Hall's pain reflects self-betrayal
318 - Utes won't respond to Hall
263 - BYU is champion of the state
140 - Man trapped in Nutty Putty cave dies
121 - Cave to be sealed with body inside
120 - Religion in politics is tiresome
112
As early as last week, it was becoming clear that certain gifts were...
one thought for grandparents strapped for $...become foster parents and get...
Many Utah fans have no class. You ok with that?
People like sport. If we banned everthing that could go wrong, there would be...
Wait...who is the better team? Oh yeah, the team that won. Who was that...
Thanks, Mike. But in a state where ornery is pronounced with only one r, one...
I really "hate" this holier than thou attitude Who could honestly say that...
This team is a work in progress...stay the course, fans! Have faith! Go, Utes!
It seems that the media is more at fault: when they use words like "holy war"...
As one who has attended many games at RES, I can say that I do fully agree...
Well, of course, BYU's attitude is to forget the incident like it never...



You can be the first to comment on this story.