A 0.5 percent increase in the Consumer Price Index drove the cost of living higher in the US in February. Food prices and fuel costs led the surge.
Ã¢â‚¬Å“The headline number is being driven by the usual suspects — energy and food,Ã¢â‚¬Â said Ryan Sweet, a senior economist at MoodyÃ¢â‚¬â„¢s Analytics Inc. in West Chester, Pennsylvania. Ã¢â‚¬Å“Strip those out and inflation is relatively subdued. Businesses are going to have a difficult time passing on the higher costs because consumers are still price-sensitive.Ã¢â‚¬Â
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