U.S. Consumer Prices Show Modest Increase in February

The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.2% in February on a seasonally adjusted basis, following a 0.5% rise in January, according to the U.S. Bureau of Labor Statistics.

Over the past 12 months, the overall index climbed 2.8% before seasonal adjustment.

Housing Costs Drive Inflation, Energy and Travel Prices Decline

Housing costs rose 0.3%, accounting for nearly half of the monthly CPI increase. However, this was partially offset by a 4.0% decline in airline fares and a 1.0% drop in gasoline prices. Despite the lower gasoline costs, the energy index edged up by 0.2%, driven by higher electricity and natural gas prices.

Food Prices See Modest Increase

Food prices increased by 0.2% in February, with food away from home rising 0.4%, while grocery prices remained unchanged.

Core CPI Sees Slower Growth

Excluding food and energy, core CPI rose 0.2% in February, following a 0.4% increase in January. Categories that saw price increases included medical care, used vehicles, household furnishings, recreation, apparel, and personal care. Meanwhile, airline fares and new vehicle prices were among the few indexes that declined.

Annual Inflation Trends

Annually, CPI increased by 2.8% through February, slightly lower than the 3.0% recorded in January. Core CPI, which excludes food and energy, rose 3.1% over the past year. The energy index declined by 0.2% year-over-year, while food prices increased by 2.6%.

Source: U.S. Bureau of Labor Statistics

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