Economic Watch: Home Starts Up, Inflation in Check

June 18, 2013

By Evan Lockridge

SHARING TOOLS        | Print Subscribe

New home starts in the U.S. jumped significantly in May, increasing 6.8% from the month before.

A new Commerce Department report places the annual rate at 914,000, an increase from an upwardly revised April figure of 856,000. Despite the hike, the May rate was a little less than some analysts were expecting, but is nearly 29% higher than the level from May of 2012.

While single-family home starts increased only 0.3% in May after falling for two straight months, the number of building permits issues for such construction increased 1.3% to an annual rate of 622,000, the best level in five years. Permits for multi-family units rose nearly 22%

Also on Tuesday the Labor Department released a report showing inflation is in check with consumer prices in May increasing only 0.1% from April. A decline in food prices helped offset a hike in energy prices.

Over the past 12 months consumer prices have increased 1.4%, however when the volatile food and energy sectors are removed the rate is slightly higher at 1.7%

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.



The expert, Mark Betner from CITGO, will answer your questions

View All



The expert, Rence Oliphant from Hendrickson, will answer your questions

View All