By Tom Burnett CFA
On March 14, 2023, the Bureau of Labor Statistics reported the consumer price information for the month of February. The Consumer Price Index rose 0.4% in February, after an increase of 0.5% in January. Over the past 12 months, the Index has increased by 6.0%, the smallest 12-month increase since September 2021. In June 2022, the 12-month increase was 9.0%. The food index rose 4.0% in the month while energy prices fell by 0.6%.
The Core Index, excluding food and energy prices, rose 0.5% in February, after an increase of 0.4% in January. Over the past 12 months, the Core Index rose 5.5%, the smallest 12-month increase since December 2021. During the latest 12-month period, the energy index increased 5.2% and the food index increased by 9.5%.
The next Consumer Price Index report will be issued on April 12, 2023.
Tom Burnett CFA is Director of Research