US consumer inflation up 7.9% in February, highest since January 1982

By Ovunc Kutlu

ANKARA (AA) - Annual consumer inflation in the US rose 7.9% in February, marking the largest 12-month increase since January 1982, the US Department of Labor said on Thursday.

The consumer price index (CPI), which measures changes in the prices of goods and services from a consumer's perspective, came in line with the market estimate, after it rose 7.5% in January.

In February, the CPI rose 0.8% from the previous month, also coming in line with market consensus. The CPI increase in January was 0.6%.

"The food index rose 1% as the food at home index rose 1.4%; both were the largest monthly increases since April 2020," the Labor Department said in a statement.

"The food index increased 7.9%, the largest 12-month increase since the period ending July 1981," it added.

On an annual basis, the indices for energy, gasoline, natural gas and electricity were up 25.6%, 38%, 23.8% and 9%, respectively.

Core consumer prices, which exclude food and energy, increased 0.5% in February from the previous month, following a 0.6% rise in January.

Core CPI jumped 6.4% year-on-year, marking the largest 12-month increase since the period ending August 1982, according to the Labor Department.