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Consumer Prices Rise Slowly
The U.S. consumer price index, which rose 0.4% from January to February, increased 0.3% last month, the Dept. of Labor says.
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The U.S. consumer price index, which rose 0.4% from January to February, increased 0.3% last month, the Dept. of Labor says. The price index was 2.7% higher than in March 2011, marking the smallest year-over-year gain in a year.
The core consumer price index, which excludes food and energy, advanced 0.1% month over month in February and 0.2% in March. The core index in March was 2.2% higher than a year earlier.
The Labor Dept. says about half the gain in the core index was fueled by higher housing costs and a 1.3% jump in the price of used cars and trucks. The average price of new vehicles edged up 0.2%.
Economists say the report shows inflation is cooling, as the Federal Reserve predicted it would. That gives the central bank leeway to ease credit, if necessary, to bolster the U.S. economy.
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