The United States inflation ran at 6% over the 12 months ending February, down from the January reading of 6.4% and falling for the eighth consecutive month, the Labor Statistics Bureau revealed in its report on Tuesday. The figure was in line with analyst expectations. Month on month, Consumer Price Index (CPI) rose by 0.4%.
The growth in the reading was mainly driven by shelter prices. In comparison to the same period in 2022, the energy index jumped 5.2% in February, while the reading saw a 0.6% decline on a monthly basis. Annually, food prices skyrocketed 9.5% in the reported month, while advancing 0.4% compared to January.
The core CPI, which excludes food and energy, surged 5.5% in February, year over year, registering a slight fall from the January figure of 5.6%. On a monthly level, the reading was up 0.5% in February.
