Financial News: U.S. Consumer Prices Increase In Line With Estimates

U.S. Consumer Prices Increase In Line With Estimates In February

03/14/2023 - 08:39:00 (RTTNews)

(RTTNews) - Consumer prices in the U.S. increased in line with economist estimates in the month of February, according to a report released by the Labor Department on Tuesday.

The Labor Department said its consumer price index rose by 0.4 percent in February after climbing by 0.5 percent in January. The advance by the index matched expectations.

Core consumer prices, which exclude food and energy prices, increased by 0.5 percent in February after rising by 0.4 percent in the previous month. Economists had expected core prices to rise by 0.4 percent.

The report also showed the annual rate of consumer price growth slowed to 6.0 percent in February from 6.4 percent in January.

The year-over-year growth, which was in line with economist estimates, marked the smallest 12-month increase since September 2021.

The annual rate of growth by core consumer prices edged down to 5.5 percent in February from 5.6 percent in January.

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