Energy prices nudge US CPI inflation higher in February
By Alexander Bueso
Date: Tuesday 12 Mar 2024
(Sharecast News) - The cost of living in the U.S. was little changed last month but did not dip as much as anticipated amid the rising cost of energy.
According to the Department of Labor, headline consumer prices increased at a 0.4% month-on-month pace in February.
That served to push the year-on-year rate of increase from 3.1% in January to 3.2%.
Core CPI also rose by 0.4%, so that the annual rate of increase only ticked lower by one tenth of a percentage from January's pace to 3.8% (consensus: 3.7%).
A 2.3% jump in energy prices pushed headline CPI higher, while food prices were unchanged on the month.
At the core level, user car and truck prices rose by 0.5% on the month, those for apparel bounced back by 0.6% and those for services less energy services were 0.5% higher.
-- More to follow --
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN