Consumer Price Index for All Urban Consumers Increased Year-Over-Year 1.7% and 0.4% in February

The Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) for All Urban Consumers (CPI-U) increased 0.4% in February on a seasonally adjusted basis after rising 0.3% in January. The all-items index rose 1.7% for the 12 months ending February, a larger increase than the 1.4% reported for the period ending in January. The index for all items less food and energy rose 1.3% the last 12 months, a smaller increase than the 1.4% rise for the 12 months ending January. The food index rose 3.6% over the last 12 months, while the energy index increased 2.4% over that period. The gasoline index continued to increase, rising 6.4% in February and accounted for over half of the seasonally adjusted increases in the all items index. The electricity and natural gas indexes also increased, and the energy index rose 3.9% over the month. The food index rose 0.2% in February, with the index for food at home and the index for food away from home both rising.