• From the Bureau of Labor Statistics (BLS): Consumer Price Index – February 2013
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.7 percent in February on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment. The gasoline index rose 9.1 percent in February to account for almost three-fourths of the seasonally adjusted all items increase.
The index for all items less food and energy increased 0.2 percent in February.
On a year-over-year basis, CPI is up 2.0 percent, and core CPI is up also up 2.0 percent. Both are at the Fed’s target. This was above the consensus forecast of a 0.5% increase for CPI (due to gasoline prices), and a 0.2% increase in core CPI.
I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.
• From the NY Fed: Empire State Manufacturing Survey
The general business conditions index was positive for a second consecutive month and, at 9.2, was little changed. … Employment indexes suggested that labor market conditions were sluggish, with little change in employment levels and the length of the average workweek. Indexes for the six-month outlook pointed to an increasing level of optimism about future conditions, with the future general business conditions index rising to its highest level in nearly a year.
This is the first of the regional manufacturing surveys for March. This was at the consensus forecast of a reading of 8.5.