US CPI increased 0.4% in February

US CPI increased 0.4% in February

The US Department of Labor reported today that the Consumer Price Index (CPI) jumped 0.4% month on month in February due to a 2.0% spike in energy prices. Core inflation, which does not cover food and energy prices, posted its largest gain in five months with a 0.3% increase. The index had increased 0.2% each month during the previous four months. Wall Street economists had expected the CPI to rise 0.3% and the core index to rise 0.2%.