Inflation data from CPI report shows sharper price gains: What it means for Fed rate cuts.

Rising gasoline costs kept inflation elevated in February, underscoring that a return to more modest consumer price increases following a pandemic-induced spike may continue to be bumpy.

The climb in fuel costs and rent offset flat food prices.

Overall prices rose 3.2% from a year earlier, up from 3.1% in January, according to the Labor Department’s consumer price index. On a monthly basis, costs increased 0.4% following a 0.3% gain the previous month.

What is the core inflation rate right now?

Core prices, which exclude volatile food and energy items and...