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February Inflation Stagnates at 2.4% Amid Rising Costs

JUST IN: A cool February inflation reading. Inflation remained at 2.4% (y/y) in February, the same as January. This reading was before the war in Iran began, so gas prices were still below $3 average. -->Note that some items had larger than normal increases in February including fuel oil, utility gas, apparel, groceries and medical care. The monthly gain (just for month of Feb.) was 0.3%. “Core inflation” (excluding food and energy) was 2.5%