US inflation rises 0.3% MoM in Feb, annual inflation steady at 2.4%

The US Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3 per cent month on month (MoM) in February on a seasonally adjusted basis, following a 0.2 per cent rise in January, according to the US Bureau of Labor Statistics (BLS). On a year-on-year (YoY) basis, overall inflation remained unchanged at 2.4 per cent.

Energy prices rebounded in February, rising 0.6 per cent after falling 1.5 per cent in January. Gasoline prices increased 0.8 per cent over the month, while natural gas prices rose 3.1 per cent. Electricity prices, however, declined 0.7 per cent during the same period, BLS said in a press release.

US consumer prices rose 0.3 per cent MoM in February, with annual inflation steady at 2.4 per cent. Energy prices increased 0.6 per cent as gasoline and natural gas rose, though electricity declined.
Core inflation edged up 0.2 per cent.
Apparel and household furnishings recorded gains.
The CPI-U index rose 0.5 per cent before seasonal adjustment to 326.785.

Core inflation, which excludes the more volatile food and energy categories, rose 0.2 per cent in February after a 0.3 per cent increase in January. Within the core basket, notable monthly increases were recorded in apparel, household furnishings and operations.

On an annual basis, the core CPI also increased 2.5 per cent in the 12 months ending February, unchanged from January.

Within the energy category, electricity prices were 4.8 per cent higher compared with a year earlier, and natural gas prices surged 10.9 per cent. Gasoline prices, however, fell 5.6 per cent over the same period.

Before seasonal adjustment, the CPI-U increased 0.5 per cent in February, bringing the overall index level to 326.785, as per the release by BLS.

Fibre2Fashion News Desk (SG)