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Consumer Prices Rise Marginally in February

The increase was in line with economists' expectations


moneyOn Tuesday, the U.S. Labor Department said that consumer prices had edged slightly higher in February.

The government’s Consumer Price Index (CPI) inched up 0.1% last month. That followed a similar gain in January. February’s increase matched economists’ forecasts, Reuters notes.

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Core CPI, which excludes food and fuel prices, also increased by 0.1%. February marked the third consecutive month that core CPI has risen by 0.1%.

Food prices climbed 0.4% in February. That marked the largest monthly food price gain since September 2011. Gasoline prices, by contrast, fell.

Consumer prices gained 1.1% during the 12-month period that ended in February. That was down from a 1.6% rise in the same period that concluded in January.

A continued lack of any sign of inflationary pressure in the U.S. economy will likely spur the Federal Reserve to continue tapering its monthly bond-buying. The Federal Reserve has set a 2% target for U.S. inflation.

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