The Consumer Price Index (CPI) Report for February is out and we’re continuing to see the effects of inflation on everyday costs in the U.S.
Let’s go over that report below and see what it means for consumers.
- The all items index increased by 7.9% for the 12-month period ending in February.
- That marks the largest increase since the period ending in January 1982.
- The all items less food and energy index jumped by 6.4%.
- That’s the largest 12-month change since the period ending in August 1982.
- Pushing the all items index higher in this CPI report are rising food and energy costs.
- Food is up 7.9% over the last 12 months, which is the largest year-over-year increase since July 1981.
- That comes as the food at home index increased 8.6% over the last 12 months.
- Fueling that is increased prices for meats, poultry, fish, and eggs, which jumped 13% YoY.
- The food away from home index is up 6.8% over the last 12 months.
- That’s the biggest jump since December 1981.
- Energy is really hurting consumers with a 25.6% spike in the last 12 months.
- The index for gasoline rose 38% over the last year.
- The natural gas index is also up 23.8% over the same period of time.
- In the case of electricity, the index increased 9% YoY.
- The largest increases in indexes for February are gasoline, shelter, and food.
- The CPI Report shows that U.S. inflation continues to be an issue affecting many aspects of citizens’ daily life.
- Add in the war between Russia and Ukraine and there’s likely going to be more bad news for consumers in the coming months.
There’s more stock market news for investors to check out below!
InvestorPlace has all the latest stock market news that traders need to know about for Thursday! Among that is a breakdown of U.S. Treasury Bonds, what’s going on with uranium stocks, as well as what to know about CrowdStrike (NASDAQ:CRWD) stock after earnings. You can find all of that news at the following links!
More Stock Market News for Thursday
- Should I Buy U.S. Treasury Bonds Now? Are They Taxable? Are They Safe?
- Uranium Stocks News: Why Are UEC, CCJ, DNN Stocks Up Today?
- Is CRWD Stock a Buy After Earnings? 3 Analysts Weigh In on CrowdStrike Prices.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.