U.S. consumer prices rose 0.2 percent in February, pushed up slightly by higher gasoline and housing costs even as the prices for autos and clothing slumped.
The Labor Department says the consumer price index rose a modest 1.5 percent last month from a year ago. Inflation has been muted despite the solid job market, causing average hourly earnings — after being adjusted for consumer prices — to climb 1.9 percent in the past year. This marks the strongest inflation-adjusted wage growth since November 2015, an increase that would likely help consumer spending and economic growth.
Housing costs continue to outpace overall inflation, rising 3.4 percent from a year ago.
Excluding the volatile energy and food categories, core prices increased 0.1 percent in February and 2.1 percent from a year ago.
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