Consumer prices in the United States increased in February at a pace consistent with economists’ expectations, according to new data published Wednesday by the Labor Department.
The report showed that the consumer price index (CPI) rose 0.3% during the month, following a 0.2% increase recorded in January. The monthly gain was in line with market forecasts.
When excluding the more volatile categories of food and energy, core consumer prices advanced 0.2% in February after rising 0.3% the previous month, also matching economists’ projections.
On an annual basis, both headline and core inflation remained unchanged compared with January. Overall consumer prices increased 2.4% year-over-year, while core inflation held steady at 2.5%.