WASHINGTON (Reuters) – U.S. consumer prices increased solidly in February, leading to the biggest annual gain in a year, though underlying inflation remained tepid as demand for services including airline travel gradually picks up amid an improving public health picture.
The Labor Department said on Wednesday its consumer price index increased 0.4% last month after rising 0.3% in January. In the 12 months through February, the CPI gained 1.7%, the largest rise since February 2020, after climbing 1.4% in January.
Economists polled by Reuters had forecast CPI rising 0.4% and advancing 1.7% year-on-year.
(Reporting by Lucia Mutikani; editing by John Stonestreet)
