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Inflation Heats Up in February, as Energy and Shelter Costs Spike

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in

February on a seasonally adjusted basis, after rising 0.3 percent in January, the (BLS) reported Tuesday. The 12-month increase in prices also intensified in February. Compared to the same month in 2023, the all-items index rose 3.2 percent, higher than last month’s 3.1% January-to-January rise. Both the monthly and 12-month increases exceeded analysts’ expectations and higher than the Federal Reserve’s two percent rate target rate.

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