The consumer price index rose 0.4% last month after climbing 0.3% in January, the Labor Department's Bureau of Labor Statistics said on Tuesday.
The annual increase in consumer prices has slowed from a peak of 9.1% in June 2022, but progress has stalled in recent months. "There is a high likelihood that OER inflation will exceed rent inflation more often moving forward," said Stephen Juneau, an economist at Bank of America Securities in New York.
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