Rising food and gas costs push up consumer prices

AP News
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Posted: May 13, 2011 8:37 AM
Rising food and gas costs push up consumer prices

Consumers paid more for gas and food in April, pushing inflation to its highest level in two and a half years.

The Labor Department says the Consumer Price Index increased 0.4 percent in April. In the past 12 months, prices have risen 3.2 percent. That's the biggest 12-month gain since October 2008.

Excluding volatile food and energy, prices moved up 0.2 percent and have risen 1.3 percent this year.

Gas prices rose 3.3 percent in April. That accounts for half last month's increase. They have soared more than 33 percent in the past year. Prices at the pump have since leveled off near $4, up $1.09 from last year.

Food prices increased 0.4 percent last month. That's half the previous month's increase, which was the largest in nearly three years.