Gas prices fuel inflation in February
March 15, 2013
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.7% in February on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics said. Over the last 12 months, the all-items index increased 2.0% before seasonal adjustment. The unadjusted CPI increased 0.8%.
Almost three-fourths of the increase in the seasonally adjusted CPI resulted from the gasoline index, which rose 9.1%. Indexes for electricity, natural gas and fuel oil also increased, leading to a 5.4% jump in the energy index. The food index increased slightly in February, rising 0.1% on a sharp increase in the fruits and vegetables index. The index for all items less food and energy increased 0.2% in February. The indexes for shelter, used cars and trucks, recreation and medical care all rose in February, more than offseting declines in the indexes for new vehicles, apparel, airline fares and tobacco.
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