Overall Inflation Still Low Despite Gasoline Hike
Washington, DC, March 15, 2013 -- U.S. consumer prices rose the most in nearly four years in February due largely to increasing gasoline prices, according to the Labor Department.
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However, overall inflation remained fairly tame.
The government said its Consumer Price Index increased 0.7% last month, the largest gain since June 2009, after a flat reading in January.
Gasoline, which rose 9.1%, the most in near four years, accounted for about 75% of the rise in consumer inflation.
Excluding food and energy, consumer prices rose 0.2%, down from January's 0.3% advance.