U.S. consumer prices climb 0.4% in February
March 16, 2012, 8:30 a.m. EDT
WASHINGTON (MarketWatch) - U.S. consumer prices increased 0.4% in February, owing mainly to the surging cost of gas, the Labor Department said Friday. So-called core prices rose a smaller 0.1% on a seasonally adjusted basis. The core consumer price index strips out volatile food and energy costs. Economists surveyed by MarketWatch had forecast a 0.5% increase in the CPI, with a 0.2% rise in the core rate. Consumer prices have risen an unadjusted 2.9% over the past 12 months, unchanged from January. The core rate has increased 2.2% over the past 12 months, down from 2.3% in January. The government also reported that inflation-adjusted hourly wages, on average, fell 0.3% in February as higher prices outstripped a 0.1% gain in earnings.
http://www.marketwatch.com/story/us-consumer-prices-climb-04-in-february-2012-03-16
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