US consumer prices rise sharply in February by Reuters

US consumer prices rise sharply in February by Reuters

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© Reuters. MANAGEMENT PHOTO: Outbreak of Coronavirus (COVID-19) in New York City

WASHINGTON (Reuters) – US consumer prices rose sharply in February, leading to the biggest annual profit in a year, although underlying inflation remains lukewarm as demand for services, including aviation travel, gradually increases amid an improving image of public health.

The Department of Labor said on Wednesday that its consumer price index rose 0.4% last month after rising 0.3% in January. In the 12 months to February, the CPI rose by 1.7%, the largest increase since February 2020, after rising by 1.4% in January.

Economists polled by Reuters predicted that the CPI would rise by 0.4% and rise by 1.7% year-on-year.

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