U.S. February Consumer Prices Up 2.4% Year-on-Year, in Line With Expectations
CPI Reflects Prices Before Surge in Oil Prices
The U.S. Department of Labor announced on March 11 (local time) that the Consumer Price Index (CPI) for February rose by 2.4% compared to the same period last year. On a month-over-month basis, it increased by 0.3%.
The core CPI, which excludes the more volatile energy and food sectors, increased by 2.5% year-over-year and by 0.2% month-over-month. Both the headline and core indices were in line with the expert forecasts compiled by Dow Jones.
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The Consumer Price Index released on this day reflects price increases during the month of February. However, it does not include the impact of rising international oil prices following the U.S. and Israeli airstrikes against Iran that began on February 28.
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