Shelter prices were the largest contributor to the monthly increase, accounting for 70% of February’s gain, according to the BLS. Shelter prices were up 0.8% for the month and 8.1% year over year.
Food prices continued to cool. Overall food prices were up 9.5% for the 12 months ending in February, representing the lowest annual rate for the category since April. Prices for food at home (grocery purchases) were up 10.2% in February, the lowest since March 2022.