US CPI shows inflation steady at 2.4% in February
Annual inflation in the US remained unchanged at 2.4% in February, according to the latest Consumer Price Index (CPI) data released on Wednesday.
On a monthly basis, consumer prices rose by 0.3% in February, accelerating from the 0.2% increase recorded in January, according to the Bureau of Labor Statistics, News.Az reports, citing CNN.
The February inflation figures were compiled before the United States and Israel launched an attack on Iran.
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The two-week conflict has already driven up energy costs and increased gasoline prices for American consumers.
Analysts say these developments could begin to appear more clearly in inflation data in the coming months.
Energy prices had already been rising, increasing by 0.6% in February. Within that category, fuel oil recorded the largest monthly jump, climbing 11.1%. Heating fuel prices rose by 3.1%, while gasoline prices increased by 0.8%. In contrast, electricity prices declined by 0.7% during the month.
By Nijat Babayev
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