The U.S. consumer prices rose 2.4 percent in February compared with a year earlier, matching economists’ expectations and showing inflation remained stable, according to data released Wednesday by the Bureau of Labor Statistics.
The Consumer Price Index increased 0.3 percent for the month. Core inflation, which excludes volatile food and energy prices, rose 0.2 percent in February and 2.5 percent annually. Both figures were in line with forecasts and unchanged from January levels.
Consumer prices rose 2.4% annually in February, as expected https://t.co/ALWskBGEAl
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Shelter costs continued to drive price increases. The category rose 0.2 percent for the month and 3 percent annually. Rent posted a modest 0.1 percent monthly increase, the smallest rise since early 2021.
Food prices increased 0.4 percent in February and are up 3.1 percent over the past year. Energy prices rose slightly while several goods categories, including used vehicles and auto insurance, declined.
Economists note the report does not reflect the recent surge in oil prices linked to tensions involving Iran.
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