Housing starts / Consumer prices

Housing starts dip in February, permits up 7.7% - MarketWatch

  Construction on new U.S. homes fell slightly in February, but builders filed more permits to start new projects in the coming months, mainly multi-dwelling units such and condos and apartments, the Commerce Department reported Tuesday. Housing starts dipped 0.2% to an annual rate of 907,000 last month from an upwardly revised 909,000 in January. Permits, a sign of future demand for housing, rose 7.7% to an annual rate of 1.02 million, the highest level since October. Permits for multi-dwelling units - a volatile segment - jumped 24.3%. Yet permits for single-family homes, which usually account for three-quarters of the housing market, fell 1.8%. Economists surveyed by MarketWatch had expected starts to climb to an annual rate of 908,000 on a seasonally adjusted basis. Housing starts in January were revised up from an original read of 880,000

Consumer prices edge up 0.1% in February - MarketWatch

U.S. consumer prices rose a seasonally adjusted 0.1% in February because of higher food and housing costs, the Labor Department said Tuesday. Food prices jumped 0.4% in February - the biggest increase since September 2011 - but they are only up 1.4% over the past year. Energy prices fell 0.5% as lower gasoline costs offset increases in fuel oil and natural gas. The core CPI, which excludes volatile food and energy costs, also rose 0.1%, driven by another increase in housing expenses. Economists surveyed by MarketWatch had expected the overall CPI and core rate to both increase by 0.1%. Consumer prices have risen an unadjusted 1.1% over the past 12 months or by 1.6% on a core basis. Real or inflation-adjusted hourly wages, meanwhile, climbed 0.3% in February to $10.34 . Real wages have risen 1.1% over the past 12 months.