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Consumer Prices Enjoy Welcome Lift

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Consumer Prices Enjoy Welcome Lift

Consumer prices inched up 0.2% last month, the first gain in four months and an indication that inflation is holding steady according to a Labor Department report released today. The climb came on the back of a small rebound in gas prices and bigger jumps across several categories including rents, car, clothes and airfare. Gas prices, while still down 33% from year-ago levels, rose 2.4% in February after seven consecutive months of decline. The consumer price index dipped 0.7% in January, the largest decline in six years. [AP]