The Consumer Price Index rose 0.4 percent in February, bringing inflation over the past...
Inflation cooled slightly in February, providing the U.S. economy with a dash of good news during a week in which two bank failures rattled investors and consumers alike.
Stubbornly high housing costs drove the rise, the bureau's report said. The index for shelter, a metric that captures both rent and what homeowners would pay if they were renting the homes they occupy, accounted for 70 percent of the increase in the all-items index. Still, the median home price in Houston stood at $320,000 last month, up more than 35 percent from a median home price of $233,000 in February 2019.
The price of gasoline rose slightly last month, although gas is down 2.0 percent compared to a year ago at this time. The price of groceries increased 0.4 percent in February, a modest rise compared to recent months--although food for home preparation has still seen inflation of 9.5 percent over the past year. Historically, prices of food and energy are more volatile than those of durable goods and consumer services.
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