Report: Modest rise in metro area prices

As gas prices accelerated, this was the sign on a station in West Islip. Prices at the end of April have begun to come down. (April 4, 2012) Credit: Newsday / J. Conrad Williams, Jr.
Prices in the metropolitan area rose modestly last month, with the cost of gasoline and medical care increasing the most.
The federal Bureau of Labor Statistics reported Friday its consumer price index climbed 2.6 percent in March compared with a year ago in the 31-county region that includes Long Island. The index also was up 2.6 percent in February, year over year.
The rate of annual increases has been relatively constant since December, said Deborah A. Brown, acting regional commissioner for the federal Department of Labor, which oversees the statistics bureau.
Month over month, prices were up 0.6 percent in March compared with February. It was the biggest monthly gain since May 2011.
Higher prices for gasoline, clothing and restaurant meals were partially responsible for the index increases, said Martin Kohli, the bureau's regional economist.
The cost of filling up a car or truck in the metro area was up 8.5 percent in March compared with a year earlier. Gas prices also rose 4.4 percent month over month, the third consecutive increase.
Grocery prices, year over year, climbed 3.7 percent in March. Restaurant meals were up 3.3 percent in the same period.
Medical care soared 4.9 percent from March 2011 to last month.
Outside the Walmart store in Massapequa, some shoppers said gasoline and health care costs had forced them to postpone other purchases. "Between filling up the tank and paying my kids' dental bills, I don't have much left over at the end of the month," said Bruce Stringer, 32, a truck driver from Amityville.
Excluding food and energy, the regional price index was up 2.5 percent in March compared to a year ago.
The national index, also released Friday, climbed 2.7 percent in March year over year.
Ryan Wang, an economist at HSBC Securities USA, attributed the national increase in part to an unusual upswing in the cost of used cars. Prices for them rose 1.3 percent month over month after declining for much of 2011. He said, "This rate of increase is unlikely to be sustained" later in 2012.
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