The February Inflation Report Is Here

Dmitri Bolt / Townhall Tipsheet 

 

Inflation held steady in February, coming in at 2.5 percent, the lowest since March of 2021, as inflation remains above the Fed's two percent target rate. 

According to the Bureau of Labor Statistics, the consumer price index (CPI), which broadly measures everyday goods, rose 0.2 percent from January and 2.5 percent over the past year. However, stripping away both food and energy prices, which typically are the most volatile, prices rose only 2.4 percent. 

The price of food increased by 0.4 percent for the month and was up 3.1 percent from a year ago. Prices for meats, poultry, and fish rose 6.8 percent from a year ago, while egg prices fell 42.1 percent as the impact of an avian flu outbreak, which affected supply, has continued to wane. Meanwhile, the fruits and vegetables index increased 1.4 percent month over month and is 2.7 percent higher than a year ago. 

Energy prices were up 0.6 percent since January, but only 0.5 percent over the last year. Gasoline prices were up 0.8 percent month over month but were down 5.6 percent compared with last year, while electricity costs fell by 0.7 percent in February but are up 4.8 percent over the past year. Read more, see Xs and videos here.