Consumer prices rose 0.4 percent in February from January, the Bureau of Labor Statistics just reported. The increase — the largest in the past 10 months — was mostly fueled by higher prices for gasoline.
Excluding the food and energy sectors, prices rose 0.1 percent. That’s a sign that the so-called core rate of inflation remains in check.
According to BLS:
– Gas prices spiked 6 percent last month and were up 12.6 percent from February 2011.
– Food costs were unchanged in February from January, but were up 3.9 percent from a year earlier.