Consumer prices in the U.S. increased in line with economist estimates in the month of February, according to a report released by the Labor Department on Wednesday.
The Labor Department said its consumer price index climbed by 0.4 percent in February after rising by 0.3 percent in January. The increase in prices matched expectations.
Gasoline prices led the way higher once again, surging up by 6.4 percent in February following a 7.4 percent spike in January.
Excluding food and energy prices, core consumer prices inched up by 0.1 percent in February after coming in unchanged for two straight months. Economists had expected core prices to rise by 0.2 percent.