U.S. inflation broke higher in February. The U.S. consumer price index increased a seasonally adjusted 0.4 percent, led by soaring energy costs and higher prices for housing, medical care and air fares, the Labor Department reported Wednesday.
Excluding food and energy prices, the core rate of inflation increased 0.3 percent in February.
The increases in the CPI and core CPI were each 0.1 percentage point stronger than expected by Wall Street economists surveyed by MarketWatch.
The CPI is up 3 percent in the past year, while the core rate has risen 2.4 percent, the biggest gain since August 2002. The core rate had risen 0.2 percent for four months in a row before February’s upside surprise.
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