U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could complicate the Federal Reserve’s deliberations.

Consumer Prices in the United States Rise as Inflation Persists

Underlying U.S. inflation topped forecasts for a second month in February, as prices jumped for used cars, air travel, and clothes. The rate of price increases picked up, driven by higher petrol and housing costs. Economists believe that this data highlights the ongoing challenge of inflation for the Federal Reserve and its decision-making process regarding interest rates.

Summary of the News:

1. Consumer prices in the United States increased in February, driven by higher gasoline and shelter costs.
2. Underlying U.S. inflation exceeded expectations for a second consecutive month.
3. Prices jumped for used cars, air travel, and clothes.
4. This rise in inflation poses a persistent challenge for the Federal Reserve.

“Consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could complicate the Federal Reserve’s deliberations.” – Associated Press