\n<\/p>\n
Prices consumers pay for a broad range of goods and services rose in line with expectations for February, offering a final look at inflation pressures before an oil shock tied to the Iran war rattled the outlook.<\/p>\n
The consumer price index<\/a> increased a seasonally adjusted 0.3% for the month, putting the 12-month inflation rate at 2.4%, according to Bureau of Labor Statistics data released Wednesday. Both numbers matched the Dow Jones consensus forecast.<\/p>\n Stripping out volatile food and energy prices, core CPI posted a 0.2% monthly reading and 2.5% annual rate, compared to forecasts for 0.2% and 2.5%, also in line with the estimates.<\/p>\n The annual rates were unchanged from January, indicating that inflation was holding above the Federal Reserve\u2019s 2% target but not getting worse.<\/p>\n While the report showed inflation broadly stable, prices rose modestly for shelter and services while several goods categories, including used vehicles and auto insurance, saw declines.<\/p>\n<\/div>\n Shelter, which is the single-biggest component of CPI, posted a 0.2% increase, putting the annual rate at 3%. Within the category, rent rose just 0.1%, the smallest monthly increase since January 2021.<\/p>\n Apparel prices, which are sensitive to tariff pressures, saw a 1.3% monthly gain. New vehicle prices were steady and up just 0.5% from a year ago while energy rose 0.6% and also saw a 0.5% annual increase.<\/p>\n Food prices accelerated 0.4% for the month and were up 3.1% from a year ago.<\/p>\n However, the data predates the recent surge in oil prices tied to escalating tensions involving Iran, meaning any impact from higher energy costs will likely show up in the months ahead.<\/p>\n Markets reacted little to the report, with stock market futures<\/a> mixed and Treasury yields higher.<\/p>\n This is breaking news. Please refresh for updates<\/strong>.<\/p>\n<\/div>\n
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