Consumer Prices Rise on Higher Gasoline

Washington, DC, March 18, 2009--The cost of living rose in February on higher gasoline and apparel prices, government data showed on Wednesday.

The Labor Department said its Consumer Price Index rose 0.4 percent, the biggest monthly gain since last July, after increasing 0.3 percent in January.

It said about two-thirds of the rise in the headline figure was from the jump in gasoline prices.

Core prices, which exclude food and energy items, increased 0.2 percent in February after rising by the same margin the prior month.

On a year-over-year basis, consumer prices were up 0.2 percent after being flat in January. Energy prices surged 3.3 percent in February, also the largest monthly increase since July last year, while gasoline was up 8.3 percent.

However, compared to the same period last year, energy prices were down 18.5 percent, the department said.