Consumer Inflation Slowed, Core Rate Accelerated In February

  • Brian Turner
  • Mar 14, 2023
  • Overall consumer Inflation remained stubbornly high in February and core inflation accelerated, driven by acceleration in home price increases.

    The consumer price inflation eased to 6.0% in February from 6.4% in January, the U.S. Labor Department reported Tuesday.  The price increase was the smallest since September 2021. 

    On a monthly basis, the overall index increase slowed to 0.4% in February from 0.5% in January. 

    The shelter index was the largest contributor to the overall inflation accounting for 70% of total increase in the month. 

    Core prices excluding food and energy accelerated to 0.5% in February from 0.4% in January and rose 5.5% on an annual basis. 

    The energy index slowed to 5.2% in February from 8.7% in the previous month, the food index increase slowed to 9.5% from 10.1% but the shelter index jumped to 8.1% from 7.9%. 


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