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U.S. Inflation Picked Up in February Without Any Big Acceleration

  • Consumer price index, core both rise 0.2% from prior month
  • Auto prices decline; housing, apparel costs increase
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U.S. consumer prices rose 0.2 percent from January matching the median estimate of economists.(Source: Bloomberg)
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U.S. consumer prices continued to firm in February, indicating inflation is creeping up toward the Federal Reserve’s target without the kind of breakout that would warrant a faster pace of interest-rate hikes.

Both the main consumer price index and the core gauge, which excludes food and energy, rose 0.2 percent from January, matching the median estimates of economists, a Labor Department report showed Tuesday. The CPI was up 2.2 percent in the 12 months through February, compared with 2.1 percent in January, while the core index increased 1.8 percent from a year earlier for a third month.