For a third consecutive month, everyday prices moved sharply higher with gains led by motor fuels prices. The AIER Everyday Price Index increased by 1.2 percent for the month following back-to-back increases of 0.8 percent in January and February, putting the 3-month annualized rate at 11.9 percent and the 12-month gain at 4.4 percent, the fastest pace since November 2011.
Motor fuels prices jumped 11.7 percent for the month following gains of 6.9 percent in January and February and contributed 105 basis points to the 1.2 percent gain in the Everyday Price Index. From a year ago, motor fuels prices are up 22.2 percent. Other significant contributors to the March increase were grocery prices (food at home, up 0.2 percent for the month, contributing 5 basis points to the monthly change), household fuels and utilities (up 0.2 percent for the month and contributing 3 basis points), and admissions prices for movies, theaters, concerts, and sporting events, etc., (up 2.6 percent for the month while contributing 5 basis points).
The Everyday Price Index including apparel, a broader measure that includes clothing and shoes, also rose 1.2 percent in March, following back-to-back gains of 0.9 percent in January and February, producing a three-month annualized rate of 12.7 percent. Over the past year, the Everyday Price Index including apparel is up 3.8 percent, the fastest since February 2012. Apparel prices rose 0.6 percent on a not-seasonally-adjusted basis in March following gains of 1.9 percent in February and 2.9 percent in January. However, from a year ago, apparel prices are off 2.5 percent.
The Consumer Price Index, which includes everyday purchases as well as infrequently purchased, big-ticket items and contractually fixed items, rose 0.7 percent on a not-seasonally-adjusted basis in March. Over the past year, the Consumer Price Index is up 2.6 percent. The Consumer Price Index excluding food and energy rose 0.4 percent for the month (not seasonally adjusted) while the 12-month change came in at 1.6 percent.
After seasonal adjustment, the CPI rose 0.6 percent in March while the core increased 0.3 percent for the month. Within the core, core goods prices were up 0.1 percent in March and are up 1.7 percent from a year ago while core services prices rose 0.4 percent for the month and are up 1.6 percent from a year ago. The rise in the core goods category was led by 0.6 percent increases in used vehicles and tobacco. On the core services side, significant increases came from motor vehicle insurance (up 3.3 percent for the month), transportation services (+1.8 percent), and motor vehicle maintenance services (+1.0 percent).
Energy prices continue to drive the Everyday Price Index higher in the early part of 2021. Like many measures of activity within the economy, some prices continue to be distorted by government restrictions on consumers and businesses. As restrictions are lifted and activity returns to normal, prices will begin to reflect true market forces.
Note: The Everyday Price Index for March is based on incomplete data due to restrictions on data collection by Bureau of Labor Statistics personnel because of the Covid-19 pandemic.
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
When I finally stumbled over to my computer in the evening, I was met with a deluge of concern from readers. They asked what had happened as only one article had been posted that day. Generally, we post between 10-20 daily between all of the sites, not included curated and aggregated content. Seeing that we’d only posted my super-early morning article before taking the rest of the day off had readers assuming the worst.
We have a wonderful and talented group of writers who volunteer their time for the sites and their readers. Sharing their amazing perspectives has always been a blessing to us because we cannot afford to hire anyone at this time. But having great writers is meaningless if we don’t have great editors, or at least one additional. My wife helps me read and edit stories from time to time, but I’m a one-man show when it comes to getting the stories posted.
Whenever I highlight our desperate need for donations, I note that we do not receive money from Google ads even though most in conservative media are beholden. I often ambiguously note that the money donated will help us grow. Today, I’m highlighting a specific need. We must get an editor to help take some of the load and to expand on our mission of spreading the truth to the world. One sick day proved that.
The great news is that there is no shortage of people who CAN help. I am emailed variations of resumes every week by people who are much smarter than I am. As much as I’d love to hire some of them, we simply cannot. That takes money and as blessed as we’ve been to receive donations and collect ad money (though not from Google or Facebook), we have still fallen short.
Those who have the means, PLEASE consider donating. We have the standard Giving Fuel option and people can donate through PayPal. We are also diving into what we believe is extremely disruptive technology at LetsGo.finance, the world’s first major donation portal for crypto. I’ll be talking a lot more about them in the near future. Those who prefer Bitcoin can send to my address here: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
We can get the voices out there and we’re willing to shine a spotlight on new talent. We just need the resources to make it happen. If you can help, we would be extremely grateful.
Thank you and God bless!
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JD Rucker – EIC