(MENAFN) According to the US Labor Department, the country's consumer prices increased sharply in February as energy prices rebounded and pushed gasoline higher, The Peninsula Qatar reported.
The consumer price index increased 0.2 percent last month, following three consecutive months of declines including January's 0.7 percent drop, the steepest drop since late 2008 amid the financial crisis.
The CPI provides a snapshot of inflation in the world's largest economy. The Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, fell 0.2 percent in January.
"Global oil prices have bounced around and the appreciating US dollar will continue to put downward pressure on core prices," analysts at Moody's Analytics said in a statement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.