The U.S. core consumer price index rose 0.1% in February to fall below market expectations and signal that pressures remain tame, according to Bureau of Labor Statistics data.
- The core consumer price index which excludes volatile items, increased 1.3% from a year earlier.
- Growth was reported in the indexes for shelter, recreation, medical care, and motor vehicle insurance. Declines were noted in airline fares, used cars and trucks, and apparel.
- The overall CPI rose 0.4% from the month earlier and 1.7% from the previous year.
- The gasoline index rose 6.4% to account for over half of the seasonally adjusted increase in the overall index.
- Increases were recorded in the electricity, natural gas, and food indexes with both food at home and food away from home rising.
- Analysts forecasted a month-on-month gain of 0.2% for the core CPI and 0.4% for the overall CPI.
- Both the core consumer price index and the overall index rose 1.4% from the previous year in January.