Energy Prices Fall in February

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In February, headline inflation and core inflation remained unchanged from the previous month.

The Consumer Price Index (CPI), released by the Bureau of Labor Statistics (BLS), rose by 0.1% in February on a seasonally adjusted basis, the same increase as in January. Excluding the volatile food and energy components, the “core” CPI increased by 0.2% in February, the same increase as in January. The index for shelter increased by 0.3% in February, following a 0.4% increase in January. The indexes for medical care commodities and airline fares decreased over the month.

In February, the price index for a broad set of energy sources fell by 2.0%, the biggest drop in the past thirteen months. All major energy indexes declined over the month. The gasoline index declined by 3.4%, while the electricity index and the index for utility gas service declined by 0.1% and 0.9%, respectively. Meanwhile, the food index increased by 0.4% in February, after a 0.2% increase in January. The indexes for food at home and food away from home increased over the month.

Over the past twelve months, on a not seasonally adjusted basis, the CPI rose by 2.3% in February, following a 2.5% increase in January. Meanwhile, the “core” CPI increased by 2.4% over the past twelve months, faster than a 2.3% increase in January. The food index rose by 1.8%, and the energy index increased by 2.8% over the past twelve month.



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