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US inflation held steady last month before attack on Iran sent energy costs soaring
Inflation stayed stubbornly elevated last month as gas prices rose in a snapshot of what consumer prices looked like before the U.S.-Israeli attack on Iran sent energy costs soaring. Consumer prices rose 2.4 per cent in February compared with a year earlier, the Labor Department said Wednesday, matching January’s 2.4 per cent increase. Excluding the volatile food and energy categories, core prices climbed 2.5 per cent from a year ago, also matching January’s level, which was the lowest in five years. Both figures are above the Federal Reserve’s two per cent target. Wednesday’s data has been overtaken by the ... (full story)
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Inflation likely was elevated last month even before the spike in oil and gas prices of the past two weeks that is expected to send consumer costs soaring in the months ahead. Consumer prices are forecast to have risen 2.5% in February from a year earlier when the Labor Department reports last month’s figures Wednesday, according to a survey of economists ...
Economists expect February’s Consumer Price Index report to show rising consumer prices and inflation stuck well above the Fed’s 2% target. The year kicked off with softer-than-expected inflation in January, thanks to early dips in durable goods and energy prices. While the Iran War has caused oil prices to spike over the last week, economists say ...
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent on a seasonally adjusted basis in February, after rising 0.2 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.4 percent before seasonal adjustment. The index for shelter rose 0.2 percent in February ...
