U.S. consumer prices rose 2.4% in February from a year earlier, the Bureau of Labor Statistics reported March 11, in line with forecasters’ expectations.
Normally, that reading might suggest inflation is stabilizing, but the data may reveal less about inflation’s trajectory than usual, as it does not account for gas and oil price surges sparked by the Iran war in early March.
The February figure means the rate of annual inflation held steady after falling from 2.7% in December last year to 2.4% in January.
From January to February, prices increased by 0.3%, up from 0.2% in the first month of the year. The cost of shelter, food, and energy increased over the month, while the price of used cars and trucks, as well as motor vehicle insurancedeclined, the BLS said.
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