The Consumer Price Index for All Urban Consumers increased as expected in February on a seasonally adjusted basis according to the U.S. Bureau of Labor Statistics reported today.
- M-O-M: Month-over-month saw an increase of 0.4% in February on a seasonally adjusted basis after rising 0.3% in January.
- ANNUALIZED: Over the last 12 months, the all items index increased 1.7% before seasonal adjustment.
Energy is the biggest driver of the increase in the all items index
- The gasoline index saw a 6.4% jump in February and single-handedly accounted for over half of the seasonally adjusted increase.
The biggest increases for the month were energy (+3.9%), medical care (+0.5%), and food away from home (+0.3%)
The biggest declines for the month were used cars (-0.9%), apparel (-0.7%), and medicine (-0.7%)