Tuesday, March 18, 2014

Consumer Prices Rose 0.1% in February

Consumer prices rose 0.1% in February due to a spike in household food costs. February’s gain is the fourth consecutive month where prices have risen.

Core prices continued their modest gains as well, growing 0.1% for the third consecutive month. Prices on goods declined 0.1% while service prices rose 0.2%, the same as last month. Energy prices saw a 0.5% decline, which was expected after the spike in December and January due to cold weather.

Prices are 1.1% above year ago levels, below the 2.0% target of the Federal Reserve, with core prices up 1.6% over the same period. Services saw the largest year-over-year gains, growing 2.2%.

Read the BLS report.

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