Gas Prices Bring down CPI in February

The Consumer Price Index fell 0.2 percent in February, largely due to declines within the energy index, which offset increases in other indexes. Over the last 12 months, the index for all items increased 1.0 percent before seasonal adjustment.

The energy index declined 6.0 percent from January due to a 12.5 percent decline in energy commodities, a 13.0 percent decline in gasoline and a 2.9 percent decline in fuel oil. Over the past 12 months, the energy index declined 12.5 percent due to declines in each energy component.

Prices for all items less food and energy rose 0.3 percent, consistent with January. Most indexes rose, including shelter, apparel and healthcare related sectors. The communication index was one of the few to decrease during the month, falling 0.5 percent. The index for all items less food and energy increased 2.3 percent year-over-year, and has increased steadily from the 1.7 percent rate in May 2015.

The food index increased 0.2 percent during the month, as the food at home index rose after declining in previous months. Over the past 12 months, the food index has increased by 0.9 percent.

Read the BLS release.