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		Home Page News You Can Use U.S. Inflation Picture OK Despite Rise Part Two Even though Greenspan was optimistic that inflation would remain under control this year, he promised to keep a close eye on rising energy prices, especially for natural gas. In January, overall energy prices soared by 4.7 percent, the largest increase since March 2003 and a huge leap from the moderate 0.3 percent increase registered in December. The jump in energy prices in January accounted for more than three-fourths of the overall increase in consumer prices for the month, the Labor Department said. Gasoline prices jumped last month by 8.1 percent, natural gas prices were up 3.8 percent and fuel-oil costs rose 7.2 percent. Prices for college tuition and fees rose by 1 percent in January, a sore spot for consumer pocketbooks and wallets. Costs for medical care went up 0.2 percent last month. Rising prices for energy and the other items more than offset falling prices for other goods and services. Clothing prices dropped by 0.3 percent, new-car prices dipped by 0.1 percent, and prices for telephone services and for lodging each declined by 0.2 percent in January. Food prices were flat last month, an improvement from a 0.5 percent increase posted in December. Falling prices for beef and veal, vegetables, fruit and dairy products offset rising prices for pork and poultry in January. The 1.8 percent drop in beef and veal prices in the aftermath of the United States' first mad cow case marked the biggest drop since May 1996. Computer prices were flat in January.   Back to Original Article: News You Can Use   Continue with: Friday's World Gold Prices Dollar Extends Gains Vs Yen, Soars 2 Pct Home Depot scraps Assembly Square plan Iraqis said to OK new airline
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