Gas and food costs push up consumer prices

Costs for new and used cars and trucks, clothing, medical care and housing all increased, pushing up the core index. 

Gasoline prices accounted for almost half of the rise in overall consumer inflation last month, advancing 3.3 percent, down from a 5.6 percent increase in March. 

The energy index has risen 19 percent in the past 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.

Food prices increased 0.4 percent in April, half the previous month’s increase, which was the largest in nearly three years. The price of fresh vegetables dropped, while dairy, meat, fish and eggs all increased, according to Labor report. 

Oil prices have fallen in recent days from their peak of $114 a barrel to about $100 Friday. The prices of corn and other grains also have been dropping. 

Fed officials still don’t think that high commodity and gas prices, which dragged down economic growth in the first quarter, will have a long-term effect on inflation. Prices for food and gas are expected to eventually fall this year as the economic recovery picks up pace through the second quarter.