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February Inflation Was Broader Than Gas Prices
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Inflation accelerated 7.9% in February, largely driven by an increase in energy prices, the Labor Department said Thursday. Gasoline rose 6.6% on the month and by itself contributed about a third of the overall monthly increase in consumer prices, the department said.
But energy wasn’t the whole story. Other items such as groceries, plane tickets, rents and household appliances saw big price increases as well, in part driven by continued supply-chain difficulties, rising wages and, in the case of airline fares, higher fuel prices.
Read more on wsj.comAbout this in other media
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