Third quarter costs for goods and services increase
All groups in the Commerce Department’s Consumer Price Index (CPI) for the 3rd Quarter of the 2011 calendar year (July - September), recorded increases except the Alcohol-Beverages and Transportation groups which decreased -0.4 and -0.3 percent respectively. Inflation was recorded at 8.1% in the same quarter.
The report, released Thursday, says the 3rd quarter CPI shows the Housing Group recorded the highest quarterly increase with 3.7%; and the Food Group up by 1.2% because of cost increases of lamb neck, lamb flap, ground beef, mayonnaise and potatoes.
The Apparel Group was up by 0.3% in this quarter; Medical Care did not change and registered a 107.7 index point; Recreation and Education/Communication recorded increases of 1.8 and 0.3 percent respectively, said DOC.
Other Goods and Services increased by 0.3% because of hair products and clothing services, according to the report.
The costs of goods and services measured by the CPI this quarter registered at 126.9 index points, up 1.3% from the second quarter.