Feds Claim CPI Up Less Than 1 Percent

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According to data released today by the U.S. Bureau of Labor Statistics claims that the Consumer Price Index for All Urban Consumers in the Midwest increased 0.6 percent in February. February’s increase was broad based and led by higher prices for motor fuel and utility gas service. Overall, energy costs advanced 2.2 percent over the month. The food index rose 0.5 percent and prices for all items less food and energy were up 0.4 percent.

The CPI-U for the Midwest advanced 0.9 percent from February 2013 to February 2014. Food prices increased 1.6 percent and the energy index, which includes motor fuel and household fuels, declined 3.0 percent. Excluding food and energy, the CPI-U rose 1.3 percent over the year.

Among the regions, the indexes for the West and the South each increased 0.4 percent while prices in the Northeast were up 0.1 percent in February. Over the year, prices advanced 1.3 percent in the West, 1.2 percent in the South, and were 1.0 percent higher in the Northeast.

The full February 2014 Midwest CPI release is attached in .PDF format and will be available online later today at http://www.bls.gov/ro7/cpimdw.htm.