Consumer prices in the U.S. increased by slightly less than expected in the month of February, according to a highly anticipated report released by the Commerce Department on Friday.
The consumer price index (CPI) increased 0.3% last month after gaining 0.2% in December, the Labor Department s Bureau of Labor Statistics said on Tuesday. Annual revisions to the CPI data published last Friday were mixed, but generally showed inflation was on a downward trend after surging in 2022. In the 12 months through January, the CPI increased 3.1%. That followed a 3.4% advance in December.