The consumer price index in February was expected to show a 2.4% increase from a year ago, according to the Dow Jones consensus.

The data may reveal less than usual about inflation’s path as it does not account for gas and oil price surges sparked by the Iran war in early March.

The consumer price index in February was expected to show a 2.4% increase from a year ago, according to the Dow Jones consensus.

With energy prices jumping, analysts say the report might be viewed as a "historical artefact".

The consumer price index rose at a slightly quicker pace in February than January, remaining above the Federal Reserve target rate of 2%.