Wednesday, May 17, 2006

Why I Am Not an Economist

CNN reports:

The Consumer Price Index rose a surprising 0.6 percent in April, the Labor Department reported, compared with the 0.4 percent rise in March. Economists surveyed by had forecast a 0.5 percent rise in the government's key measure of inflation.

Higher energy prices, led by an 8.8 percent jump in the price of gasoline, helped account for the higher inflation reading. Gas prices were up even further excluding seasonal adjustments that government number crunchers make ahead of the summer driving season, soaring 14.5 percent.

The so-called core-CPI, which excludes often-volatile food and energy prices, rose 0.3 percent, the second straight month that the closely watched reading came in at that level. Economists had forecast there would be only a 0.2 percent in core CPI in April.

Don't know about you, but my core has to eat and I move it around in my gasoline-powered automobile.


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