One of the primary causes of the unexpected increase in inflation in February was energy prices.
The Bureau of Labor Statistics said on Tuesday that headline inflation increased 3.2% over the previous year and 0.4% over the previous month.
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) increased by more than 60% in February,,,,
with the gasoline and shelter indexes contributing the most to this increase.
The gasoline index rose 3.8% in February compared to January's 3.3% decrease, which was a dramatic turnaround.
Prior to seasonal adjustments, the BLS reported that petrol prices increased 4.3% in February.
February's acceleration from January's 3.1% annualized growth and 0.3% month-over-month increase was partly due to these energy hikes.
Continue reading: An update on inflation for daily expenses As travel expenses decline, over-the-counter medication costs rise.
Gas prices typically increase as spring approaches since driving season begins in late winter and winter hibernation finishes early.
Starting in late January, retail gas prices reversed their decreasing trend and began to rise in tandem with oil prices.