Consumer prices increased in February at a slightly cooler rate than in January, data from the U.S. government showed Tuesday.
The Labor Department’s consumer-price index rose 0.4 percent in February, in line with expectations and down from the 0.5 percent gain seen in January. Compared with a year ago, consumer prices are up six percent, lower than the 12-month gain of 6.4 percent recorded in January.
Core consumer prices, which exclude the volatile categories of energy and food, rose by a sharper 0.5 percent. This is faster than the 0.4 percent expected and faster than the January pace of 0.4 percent. Compared with a year ago, core prices are up 5.5 percent, a tick down from the 5.6 percent 12-month increase in January.
Once again, the index for shelter was the largest contributor to the monthly increase in headline inflation, accounting for 70 percent of the overall…
