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.
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.