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US' CPI-U increases marginally in February 2024

14 Mar '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • In February, the US CPI-U rose 0.4 per cent, marking a YoY increase of 3.2 per cent.
  • The energy sector saw a rise of 2.3 per cent.
  • Excluding food and energy, the index still increased 0.4 per cent, with the apparel sector up 0.6 per cent.
  • The all items index accelerated slightly from January's 3.1 per cent to a 3.2 per cent rise over the last 12 months.
In February, US’ consumer price index for all urban consumers (CPI-U) saw a 0.4 per cent rise on a seasonally adjusted basis, a slight increase from January's 0.3 per cent, according to the US Bureau of Labor Statistics. This marks a continued upward trend, with the all items index experiencing a 3.2 per cent increase over the past year before seasonal adjustment.

Notably, the energy sector contributed significantly to this month's inflation, with a 2.3 per cent increase across all its component indexes. Excluding food and energy, the index still rose by 0.4 per cent, mirroring January's figures, with sectors such as apparel recording a 0.6 per cent uptick.

Over the 12 months ending in February, the all items index recorded a 3.2 per cent rise, indicating a slight acceleration from the 3.1 per cent increase observed in the year ending in January. The index for all items minus food and energy saw a 3.8 per cent increase over the past year, outpacing the general index. Conversely, the energy index witnessed a 1.9 per cent decrease for the year ending in February, as per the bureau.

ALCHEMPro News Desk (DP)

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