Lower than expected increase in US consumer prices in February

US consumer prices increased less than expected in February, but the improvement is likely temporary against the backdrop of aggressive tariffs on imports that are expected to raise the costs of most goods in the months ahead.

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WASHINGTON -

The consumer price index (CPI) rose 0.2 per cent in February after accelerating 0.5 per cent in January, the Labour Department's Bureau of Labour Statistics said on March 12.

In the 12 months through February, the CPI increased 2.8 per cent after climbing 3 per cent in January. Economists polled by Reuters had forecast the CPI gaining 0.3 per cent and advancing 2.9 per cent year on year.