Energy Prices Fall in February


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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