(WASHINGTON) — Consumer prices in the United States rose by 0.4 percent in February, according to the latest report from the Commerce Department. That’s the biggest jump in 10 months.
Much of the increase is because of higher gas prices. If you take out food and gas, the core rate of inflation remains tame, gaining just 0.1 percent last month.
Even so, consumers are feeling the pressure. Over the past year, prices have increased by about 3 percent — that’s slightly above average wage hikes, meaning many Americans with full time jobs are still struggling to maintain their standard of living.
Copyright 2012 ABC News Radio
Paul R. La Monica, CNN Newswire
Sam Turner, Deseret News