US Consumer Price Index Rises 2.4% Year-Over-Year in February

On Wednesday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3% in February on a seasonally adjusted basis, following a 0.2% increase in January. Over the past 12 months, the all-items index increased 2.4% before seasonal adjustment.

Shelter rose 0.2% in February and was the largest contributor to the monthly increase. The food index rose 0.4%, with food at home also up 0.4% and food away from home increasing 0.3%. Energy rose 0.6%, following a 1.5% decline in January.

The index for all items less food and energy rose 0.2% in February. Monthly increases were recorded for medical care, apparel, household furnishings and operations, airline fares, and education. Communication, used cars and trucks, motor vehicle insurance, and personal care were among the indexes that declined.

Year-over-year, the all-items index rose 2.4% in February, unchanged from the increase recorded in January. The index for all items less food and energy rose 2.5% over the year. The energy index increased 0.5% over the 12 months ending in February, while the food index rose 3.1%.