CPI holds steady
Cheaper gas prices were a major reason the consumer price index was unchanged in February.
The consumer price index was unchanged in February, due largely to cheaper gasoline, according to the Department of Labor.
It was the first time since August that the index was unchanged and it comes one month after the index had risen 0.4% in January.
Consumer prices rose 4% on a year-over-year basis, compared with a 4.3% increase in January.
The core consumer price index, which excludes volatile food and energy items held steady, after increasing 0.3% in January.
The core consumer price index grew 2.3% over the past year, down from 2.5% in January.
For February, energy prices fell 0.5%, following a 0.7% increase in January.
Increases in food costs were also smaller, shrinking to 0.4% after a 0.7% increase in January.
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