The Consumer Price Index (CPI) released on Tuesday showed inflation rose 0.4 percent for the month after increasing 0.5 percent in January. Over the last 12 months, the index has increased six percent for all items.
The index for shelter accounted for over 70 percent of the 0.4 percent increase on the month. Overall changes for the month can be found in the chart below.
Despite the month-over-month increase, the year-over-year measurement has trended down for all items since June 2022, as the chart below shows.
Food costs rose 0.8 percent, with food away from home up 0.9 percent and food at home up 0.8 percent for the month. In contrast to the overall food index, the “meats, poultry, fish, and eggs” index fell 0.1 percent over the month, the first decrease since December 2021. Eggs led the decrease, falling 6.7 percent in February.
The full CPI report can be found here.
