Compared to the previous month, seasonally-adjusted prices in February rose at less than half their rate of increase in January:

• CPI increased a seasonally-adjusted 0.2% in February, after rising 0.5% in January.
• CPI rose 2.8% for the 12 months ending February, after rising 3.0% over the 12 months ending January.
• The so-called "core" index (all items less food and energy) rose 0.2%, half January's 0.4% percent increase from the previous month.
• Core CPI rose 3.1 percent over the last 12 months.

White House Press Secretary Karoline Leavitt cheered the news on social media, touting February's "Lowest Core Inflation in Four Years," "Airline Fares DOWN" and "Gas Prices DOWN."

"This inflation report, much like last week's jobs report, is far better than the media predicted and the so-called 'experts' expected," said in a separate post:

"When will they learn to stop doubting President Trump? As he successfully did in his first term, President Trump is driving down costs through massive deregulation and energy dominance. The entire Trump Administration will continue to focus on fixing the economic and inflation nightmare created by the Biden-Harris Administration to unlock the Golden Age of America."

"February's 0.3% increase in the cost of shelter accounted for nearly half of the monthly all items increase," BLS reports:

"The shelter increase was partially offset by a 4.0% decrease in the index for airline fares and a 1.0-percent decline in the index for gasoline. Despite the decrease in the gasoline index, the energy index rose 0.2 percent over the month as the indexes for electricity and natural gas increased."

By product category, notable changes in February include:

• Food: Up 0.2% from January and 0.4% from February 2024.
• Energy: Up 0.2% from January, down 0.2% from year-ago.
• Services (less energy services): Up 0.3% from January and 4.1% from year-ago.

"The index for food also increased in February, rising 0.2 percent as the index for food away from home increased 0.4 percent. The food at home index was unchanged over the month," BLS reports, noting that declines in four of the six major grocery store food group indexes were offset by increases in the remaining two:

"Driven primarily by a 10.4-percent increase in the index for eggs, the index for meats, poultry, fish, and eggs rose 1.6 percent in February. The beef index also increased over the month, rising 2.4 percent. The index for cereals and bakery products rose 0.4 percent in February, after falling 0.4 percent in January."

"The Trump administration has scored a major victory in the inflation battle, with prices in February rising at less than half their elevated rate in January," Job Creators Network CEO Alfred Ortiz said in a statement reacting to February's BLS numbers:

"As energy production increases and inflationary spending slows further, Americans will finally enjoy lasting inflation relief and stable prices."

"In the meantime, Congress must give cost certainty to small businesses by working as fast as possible to extend and expand the Tax Cuts and Jobs Act," Ortiz said. Subscribe for free to Breaking Christian News here

The business and economic reporting of CNSNews is funded in part with a gift made in memory of Dr. Keith C. Wold.

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