Consumers pay 0.2% more for goods, services in February

by Talk Business & Politics staff (staff2@talkbusiness.net) 44 views 

The Consumer Price Index for All Urban Consumers rose 0.2% in February after it increased 0.5% in January, according to the U.S. Bureau of Labor Statistics. Over the past 12 months, the index has risen 2.2% before seasonal adjustment.

The Consumer Price Index measures the change in prices paid by consumers for goods and services.

The increases in the indexes for shelter, apparel and motor vehicle insurance contributed to the seasonally adjusted increase in the all items index for February. The food index was flat in February as a result of the decline in the food at home index and the rise in the food away from home index. The energy index rose slightly as its component indexes were mixed.

The index for all items excluding food and energy rose 0.2% in February after a 0.3% increase in January. Indexes also increased for household furnishings and operations, education, personal care and airline fares in February. However, indexes declined for communication, new vehicles, medical care and used cars and trucks.

The 2.2% increase in the all items index in February was up from the 2.1% rise in January. Over the past year, the index for all items excluding food and energy increased 1.8%. The energy index rose for 7.7%, and the food index was up 1.4%.

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