Consumer Price Index: Inflation Dropped 0.4%

Consumers paid 1.3% more in February 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation dropped 0.4 percentage points from the 1.7% measured in January 2016.

The report said, “Between January 2016 and February 2016, the average cost of goods and services in the CPI fell by 0.1%. The all-items index dropped to 100.2 in February. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $100.20.

“The Fuel & Power sector recorded the largest decrease year-over-year, dropping 5.7%. The major driver in this sector was the lower cost of electricity.

“The Transport & Foreign Travel sector also had a large impact in the year-over-year rate. This sector decreased 2.3%, led by lower cost of premium fuels at the pumps.”

The full February 2016 Consumer Price Index follows below [PDF here]:

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