Annual inflation at 2.8% in US in February

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate was at 2.8% in the US last month, below the market expectation of 2.9%, and went down from 3% in January, official figures showed on Wednesday.

After a four-month increase trend in the annual inflation rate, February posted the first decline, the US Bureau of Labor Statistics data showed.

Month-on-month, consumer prices increased by 0.2%, below the market forecast of 0.3%, and down from 0.5% in January.

Housing accounted for nearly half of the monthly all items increase, and prices balanced thanks to declines in airline fares and gasoline, the bureau said.

Despite the decrease in the gasoline index, the energy index rose 0.2% over the month as the indexes for electricity and natural gas increased.

The index for food also increased in February, rising 0.2% as the index for food away from home increased 0.4%.