1:14 p.m.
Saturday, 17 February 2018

Gas Spike Drives US Consumer Prices up 0.7 Percent

El Centro, California.- The consumer price index increased a seasonally adjusted 0.7 percent last month from January, the Labor Department said Friday. It was the biggest monthly rise since June 2009.

Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment.

The gasoline index rose 9.1 percent in February to account for almost three-fourths of the seasonally adjusted all items increase. The indexes for electricity, natural gas, and fuel oil also increased, leading to a 5.4 percent rise in the energy index. The food index increased slightly in February, rising 0.1 percent. A sharp increase in the fruits and vegetables index was the major cause of the 0.1 percent increase in the food at home index, with other major grocery store food group indexes mixed.

The index for all items less food and energy increased 0.2 percent in February. The indexes for shelter, used cars and trucks, recreation, and medical care all rose in February. These increases more than offset declines in the indexes for new vehicles, apparel, airline fares, and tobacco.

The all items index increased 2.0 percent over the last 12 months compared to a 1.6 percent increase for the 12 months ending January.

The index for all items less food and energy also increased 2.0 percent over the last 12 months. The energy index increased 2.3 percent and the food index rose 1.6 percent.


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