Consumer Price Index: Inflation Increased 0.4%
Consumers paid 2.0% more in February 2018 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and the level of inflation increased 0.4 percentage points from the 1.6% measured in January 2018.
This is according to the latest Consumer Price Index, which said, “Between January 2018 and February 2018, the average cost of goods and services in the CPI increased 0.3%. The all-items index rose to 104.1 in February. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $104.10.
“The Transport & Foreign Travel sector was the largest contributor to the year-over-year change in the CPI. This sector rose 4.2%, fostered by a 14.4% increase in the average cost in air fares. In addition, the Tobacco & Liquor sector and the Fuel & Power sector rose 9.4% and 9.1%, respectively.”
The full February 2018 Consumer Price Index follows below [PDF here]:
