US Consumer Prices Rise the Most in 1-1/2 Years

The US consumer price index rose by 0.3% from the previous month in February, picking up from the 0.2% increase in the previous month and matching market expectations. Prices rose sharply for fuel oil (11.1 vs -5.7% in January) and gasoline (0.8% vs -3.2%), lifting aggregate energy costs by 0.6%. Energy prices are due to rise further in March as the war in Iran triggered a surge in energy commodity prices. In the meantime, food costs rose by 0.4% (vs 0.2%) amid increases in food at home (0.4% vs 0.2%) and away from home (0.3% vs 0.1%). Core consumer prices rose by 0.2% from the five-month high of 0.3% in January, with support from medical care services (0.6% vs 0.3%) offsetting the decline in used cars and trucks (-0.4% vs -1.8%).

US consumer prices increased by 0.2% month-over-month in January 2026, easing from December’s pace and coming in below expectations for a 0.3% rise. Shelter costs climbed 0.2%, while food prices also rose 0.2%, with the index for food at home matching that increase and food away from home edging up 0.1%. Additional upward pressure came from higher airline fares, as well as gains in personal care, recreation, medical care, and communication services. These increases were partly offset by a 1.5% drop in energy prices. Declines were also recorded in used cars and trucks, household furnishings and operations, and motor vehicle insurance, helping to moderate the overall monthly advance.

US consumer prices increased by 0.3% month-over-month in December 2025, matching market expectations and repeating the rise seen in September. Data for October and November are unavailable, as the BLS could not collect the October 2025 reference-period survey due to the government shutdown. Shelter costs rose 0.4%, while the food index increased 0.7%, with both food-at-home and food-away-from-home components contributing equally. Energy prices advanced 0.3%. Additional upward pressure came from recreation, airline fares, medical care, apparel, personal care, and education. Offsetting these gains, indexes for communication, used cars and trucks, and household furnishings and operations declined. The core CPI, which excludes food and energy, rose 0.2%, slightly below expectations of 0.3%.