CPI Increased 0.4% in February as Food and Rent Costs Rose - Modern Distribution Management

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CPI Increased 0.4% in February as Food and Rent Costs Rose

Over the past 12 months, the all-items index has increased 6% before seasonal adjustment, according to the Bureau of Labor Statistics.
February 2023 inflation

After increasing 0.5% in January, the Consumer Price Index for All Urban Consumers rose 0.4% in February on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported March 14. Last month, the index for shelter was the largest contributor to the monthly all-items increase — accounting for more than 70% of the increase — as rent and food costs rose for consumers, the department said.

Over the last 12 months, the all-items index increased 6% before seasonal adjustment, according to the data. It was the smallest 12-month increase since the period ending September 2021.

Indexes for food, recreation and household furnishings and operations also contributed to CPI increases. BLS said the food index increased 0.4% over the month, with the food-at-home index rising 0.3%. The energy index decreased 0.6% in February, as the natural gas and fuel oil indexes both declined, BLS said.

The index for all items other than food and energy — known as core CPI — rose 0.5% in February, after rising 0.4% in January. Categories that increased in February include:

  • Shelter
  • Recreation
  • Household furnishings and operations
  • Airline fares

Indexes for used cars and trucks — and the index for medical care — were among those that decreased over the month, according to the data.

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