Washington, DC, March 23--The consumer price index in February rose a seasonally adjusted 0.4 percent, according to the Labor Department. The increase was led by rising energy prices and higher prices for housing, medical care and air fares.
The core rate, which excludes food and energy prices, was up 0.3 percent in February.
Economists were expecting an increases of 0.3 percent in the CPI and an increase of 0.2 percent in the core index.
For the past 12 months the consumer price index is up 3 percent and the core index is up 2.4 percent.
Commodity prices increased 0.4 percent, while services prices increased 0.3 percent.
Energy prices rose 2 percent in February, as gasoline prices increased 3.2 percent. Natural gas prices climbed 2.5 percent and fuel oil prices increased 2.4 percent. Energy prices had fallen the two previous months, but are now up 10.4 percent in the past 12 months.
Food prices rose a moderate 0.1 percent in February.
Housing costs, which represent 40 percent of the CPI, increased 0.4 percent, the most since March 2003. A 1.1 percent increase in lodging away from home led the increase, likely a seasonal quirk due to the relatively late Super Bowl. Costs for homeownership and renting a home each increased 0.2 percent.
Medical care prices rose 0.6 percent, with 0.7 percent increases in hospital services and physician services.
Transportation costs increased 0.8 percent, largely the result of higher energy costs. Air fares gained 1.5 percent, the most since July 2003. Prices of new vehicles increased 0.1 percent.
Apparel and recreation prices each declined 0.2 percent.
