Rising Gas Prices Drive Inflation

Published: February 22, 2012

Text Size
Inflation picked up slightly last month, as rising gas prices took a bigger bite out of consumers' wallets.The government's key measure of inflation, the Consumer Price Index, showed prices rose 0.2% from December to January, slightly weaker than the 0.3% increase economists had predicted. Rising prices at the gas pump were a key factor, increasing 0.9% during the month, the Labor Department said. Improving U.S. economic data, including stronger job growth, and tension with Iran have been driving the price of oil and gasoline higher. Gas prices ended last month at a national average of $3.443 a gallon, according to the AAA Fuel Gauge Report.

In this article

 
blog comments powered by Disqus

Recent Activity

Industry Discussions

    Industry Headlines

    • Spire Corporation to Hold Annual Meeting Webcast

      BEDFORD, Mass. Spire Corporation ("Spire") (Nasdaq: SPIR), a global solar company providing capital equipment and turn-key manufacturing lines to produce photovoltaic ("PV") modules and providing engineering, procurement and construction integration services for solar systems, today announced that the Company will hold its Special Meeting in Lieu of 2012 Annual Meeting of Stockholders on Thursday, May 17, 2012 at 10:00 a.m. (EDT) at its corporate headquarters located in Bedford

    • Small Wind Farms to Grow as U.S. Tax Incentives Expand

      Installations of wind farms with less than 20 megawatts of capacity may rise to a record this year if lawmakers expand a federal tax credit.

    • Two big wind farm projects canceled in the state

      Two big wind development projects on Appalachian ridges in Bedford and Clearfield counties have been canceled, and fewer new turbines will be spinning across the nation next year due to the possible end of a federal tax credit program that has driven development.

    • Innovation awards celebrate chicken vaccines, solar cells and making steel

      The world's most efficient solar cells, a new vaccine against chicken cholera and recycling car tyres to make steel are among the five winning inventions at the inaugural Australian Collaborative Innovation Awards.

    • Independent Solar Developers Completes World’s First Cattle Feedlot Solar Field

      COACHELLA, Calif. Independent Solar Developers completes world's first agricultural cattle feedlot CPV solar field system and replaces monthly utility costs with "ENERGY FOR DOLLARS" and valuable "ENERGY ASSETS."

    Close
    Your Settings

    Subscriptions

    Manage your subscriptions