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U.S. consumer prices decline less than expected in February

Staff writer |
The cost of living in the United States decreased by less than expected last month, but a key gauge of price pressures printed ahead of forecasts.

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Consumer prices edged lower by 0.2% month-on-month in February, pushing the year-on-year rate down to 1.0% from 1.4%, according to the Bureau of Labor Statistics.

Economists had penciled in a drop of 0.2% month-on-month and a 0.9% rise year-over-year.

To take note of, at the 'core' level, stripping out food and energy prices that is, the consumer price index rose by 0.3% month-on-month (consensus: 0.2%) and by 2.3% versus a year ago (consensus: 2.2%).

In comparison to the previous month, food prices increased by 0.2% while those for energy declined by 6.0%.

Apparel and medical care commodities registered the largest increases in their cost, rising by 1.6% and 0.6% over the previous month.

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