Thursday, March 17, 2011

BBC News - US inflation rate hits 0.5% in February

BBC News - US inflation rate hits 0.5% in February: "US prices rose 0.5% in February compared with the previous month, as food and fuel prices continued to exert pressure on the economy.

The change, higher than the 0.4% seen in January, was the fastest monthly rate of increase in nearly two years.

The core rate of inflation, which strips out food and energy costs, rose by 0.2% - the same as in January.

Consumer Price Index inflation hit an annual 2.1%, up from 1.6% in the year to January, the Labor Department said.

Food price inflation was a key driver of the increase. Food costs went up by 0.6% month-on-month, the most in two-and-a-half years."

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