US inflation picks up on higher gas prices

Reported by AAP
Saturday, March 16, 2013
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Surging petrol prices drove a pickup in US inflation in February, with the consumer price index adding 0.7 per cent for the month, the Labour Department said Friday.

The petrol price index rose 9.1 per cent for the month, accounting for about three-fourths of the overall pickup in consumer prices, the department said.

Excluding food and energy, prices gained 0.2 per cent in February, with rises coming in the costs of housing, used vehicles and medical care.

On an annual basis the broader CPI was up 2.0 per cent, compared to 1.6 per cent in the 12 months to January.

The gain in prices came after two flat months, and could ease in March as petrol prices are expected to fall significantly this month.

07/03/2015 12:38Sydney, Australia. 7 March,2015
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