US CPI ticks up 0.4% in February

February's US consumer price index increased 0.4% in February on a seasonally adjusted basis after rising 0.3% in January, according to the Bureau of Labor Statistics.

The consumer price index, which measures the change in prices paid by consumers for goods and services, has now increased 1.7% year-on-year before seasonal adjustment, a larger increase than the 1.4% reported for the period twelve months ended 31 January.

The gasoline index continued to increase, rising 6.4% in February and accounting for over half of the seasonally adjusted increase in the all items index, while the electricity and natural gas indexes also increased, and the energy index rose 3.9% over the month and the food index rose 0.2%.

The index for all items less food and energy rose 0.1%, with the indices for shelter, recreation, medical care and motor vehicle insurance all increasing over the month.

The indices for airline fares, used cars/trucks and apparel all declined in February.