Former JP Morgan Chase chief economist Anthony Chan breaks down the run up in oil prices on ‘Varney & Co.’
This is a developing story about the February 2026 consumer price index. Please check back for updates.
Inflation remained elevated in February as the pace of consumer price growth stayed above the Federal Reserve’s target rate as policymakers weigh affordability concerns.
The Bureau of Labor Statistics on Wednesday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.3% on a monthly basis in February and held steady at 2.4% on a year-over-year basis. The annual figure was unchanged from January, while the monthly gain was slightly higher than last month’s 0.2% reading.
Expectations vs. reality
Both figures were in line with the expectations of economists polled by LSEG.
So-called core prices, which exclude volatile measurements of gasoline and food to better assess price growth trends, were up 0.2% from the prior month and rose 2.5% from a year ago. Those figures were in line with economists’ expectations.
The monthly core CPI figure was slightly cooler than January’s 0.3% reading, while the annual figure was unchanged from last month.
