The Labor Department reported on Thursday, Dec. 10, that the gain in the consumer price index followed an unchanged reading in October and matched the 0.2% September advance.
(AP Photo/David Zalubowski)WASHINGTON ā U.S. consumer prices increased 0.4% in February, the biggest gain in six months, led by a sharp jump in gasoline prices.
The Labor Department said Wednesday that the February advance in its consumer price index followed a 0.3% rise in January and was the largest advance since a similar 0.4% increase in August.
Consumer prices are up 1.7% over the past year, a still moderate performance for inflation which is running below the Federal Reserveās 2% target for price increases.
Gasoline costs have been climbing since December, reflecting rising costs of crude oil.