Consumer Price Index Increases 0.4% in February; All-Item Index Up 3.2% Year-Over-Year

On Tuesday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in February on as seasonally adjusted basis, after rising 0.3% in January. Over the past 12 months, the all-item index increased 3.2% before seasonal adjustment.

The index for shelter rose in February, as did the index for gasoline. Combined, these two indexes contributed over 60% of the monthly increase in the index for all items. The energy index rose 2.3% over the month, as all of its component indexes increased. The food index was unchanged, as was the food at home index. The food away from home index rose 0.1% over the month.

The index for all items less food and energy increased 0.4% in February, the same increase as in January. Other indexes posting increases included shelter, airline fares, motor vehicle insurance, apparel, and recreation. The index for personal care and the index for household furnishings and operations were among those that declined in February.

The all-items index increased 3.2% for the 12 months ending in February, a larger increase than the 3.1% increase for the 12 months ending in January. The all items less food and energy index rose 3.8% over the last 12 months. The energy index decreased 1.9% for the 12 months ending in February, while the food index increased 2.2% year-over-year.

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