Oil, Food Prices Push US Consumer Costs Higher

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.

“The headline number is being driven by the usual suspects — energy and food,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “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.”

Source: Bloomberg

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