US consumer prices rise solidly in February By Reuters

US consumer prices rise solidly in February By Reuters

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© Reuters. ARCHIVE PHOTO: Outbreak of coronavirus disease (COVID-19) in New York City

WASHINGTON (Reuters) – Consumer prices in the U.S. rose solidly in February, leading to the biggest annual gain in a year, although underlying inflation remained tepid as demand for services, including air travel, gradually increased amid a improvement of public health.

The Labor Department said on Wednesday that its consumer price index rose 0.4% last month, after rising 0.3% in January. In the 12-month period up to February, the CPI gained 1.7%, the highest increase since February 2020, after rising 1.4% in January.

Economists polled by Reuters predicted that the CPI would rise 0.4% and advance 1.7% year-on-year.

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