March 2024
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis, after rising 0.3 percent in January, the U.S. Bureau of Labor Statistics reported. The index for shelter rose, as did the index for gasoline. Combined, these two indices contributed over sixty percent of the monthly increase in the index for all items. The energy index rose 2.3 percent over the month, as all of its component indices increased. The food index was unchanged, as was the food at home index. The food away from home index rose 0.1 percent over the month. The index for all items less food and energy rose 0.4 percent in February, as it did in January. Indices which increased in February include shelter, airline fares, motor vehicle insurance, apparel, and recreation. The index for personal care and the index for household furnishings and operations were among those that decreased.
The all items index rose 3.2 percent for the 12 months ending February, a larger increase than the 3.1 percent increase for the 12 months ending January. The all items less food and energy index rose 3.8 percent. The energy index decreased 1.9 percent for the 12 months ending February, while the food index increased 2.2 percent.
