Inflation slowed in February, driven in part by lower energy costs, according to new federal data released this week by the U.S. Bureau of Labor Statistics.
The latest Consumer Price Index report shows inflation rose by just 0.2% last month, contributing to a 2.8% increase over the past year. This marks a slight decrease from January’s annual inflation rate of 3% and indicates a potential easing of price pressures on American consumers.
Lower energy prices align with a core value of President Donald Trump’s campaign to reduce costs for American families. However, some are skeptical since global oil markets tend to fluctuate, and tariffs will play a role in consumer costs.
Despite the drop in energy prices, overall inflation is still above the Federal Reserve’s 2% target.
