- Inflation held steady in February, matching January's figures, prior to the conflict involving Iran officially commencing on Feb. 28.
- Consumer prices rose 2.4% in February compared with a year earlier. Excluding the volatile food and energy categories, core prices climbed 2.5% from a year ago, also matching January’s level.
- Grocery prices rose more quickly last month than in January, continuing a trend that has hammered family budgets. They rose 0.4% in February and were up 2.4% from a year earlier.
- Americans are now bracing for more price hikes due to the Iran conflict, initiated by President Donald Trump, which has already caused oil and gas prices to skyrocket, particularly after Iran effectively shut down the Strait of Hormuz.
- Experts warn that oil prices could reach $150 a barrel after gas prices increased within days of the conflict’s start. The rising cost is also expected to worsen inflation, and will likely push those numbers even higher on next month’s CPI report.
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