McClatchy: Here's news: Fed report says gas price dropped in April

Here's news: Fed report says gas price dropped in April
By Kevin G. Hall | McClatchy Newspapers


WASHINGTON — Consumer prices rose only 0.2 percent in April, but the tame number masked an ugly reality for poorer Americans — food prices rose almost 1 percent for the month, the highest monthly jump since 1990, and by 5 percent over the previous year.

Wednesday's inflation report from the Bureau of Labor Statistics (BLS) was sure to prompt debate for another reason: it showed gasoline prices falling 2 percent in April - a figure most motorists would sharply dispute.

"The drop makes absolutely no sense," said Mark Vitner, senior economist with Charlotte, N.C.-based Wachovia, in a note to investors that questioned where BLS data collectors buy their gas.

The AAA Motor Club's fuel gauge report said that the national average for a gallon of unleaded gasoline stood at $3.75 on Wednesday, up 38 cents from a month ago and up 67 cents from one year ago. The nationwide average for diesel fuel was $4.41 a gallon, up 31 cents from a month ago and $1.51 from one year ago.

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http://www.mcclatchydc.com/251/story/37048.html

reflect the things that affect most consumers the most, ie, food, fuel, etc. so all these figures are basically smoke.

to be fair, the price of gas DID go down in my area in april-- it had risen to 3.31 and then went down (for two days) to 3.29. it now stands at 3.59 for regular unleaded.

Prices have not gone "down" in so long I can't remember. From February on it has been going "up", and sometimes 3 times in one week!

and other things that had nothing to do with consumers. That was about 10 years ago. I hope there has been adjustments.

The reporter on CNN said the federal government adjusted the norm up because of the season, therefore claiming that gasoline prices didn't really rise over what they should have been, even though they rose. I guess they can adjust them according to whatever they want, as long as it makes the statistics look good.

With the proviso that if they drop in the fall, but not as much as they usually do, then it'll be listed as a rise: Not falling as much as the adjustment assumes.

Same for employment: It gets predictable, annually cyclical "stuff" out of the data. At least in principle.