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Inflation remained elevated in February, data shows

By
Published  March 28, 2025 7:32am MST
Economy
FOX TV Digital Team

FILE - Shoppers at a NC outlet store in the Soho neighborhood of New York, US, on Thursday, Feb. 27, 2025. (Adam Gray/Bloomberg via Getty Images)

The Brief

    • Prices rose 0.3% in February, according to data from the U.S. Department of Commerce.
    • Despite this, Americans did spend more last month compared to January.
    • Tariffs imposed by President Donald Trump could worsen inflation this year, some economists say.

Inflation remained high in February, according to a U.S. Department of Commerce report released on Friday.

Prices rose 0.3%

By the numbers:

Every month, prices rose 0.3% in February from the previous month, the same as in January, while core prices increased 0.4%, the largest increase in more than a year.

Friday’s report from the Commerce Department showed that consumer prices increased 2.5% in February from a year earlier, matching January’s annual pace. Excluding the volatile food and energy categories, core prices rose 2.8% compared with a year ago, higher than January’s figure of 2.7%.

Americans stepped up their spending in February, which rose 0.4% from January. However, January spending suffered the largest drop in four years.

Consumer and business confidence in the economy has fallen sharply since President Donald Trump began rolling out tariffs, and a measure of Americans’ outlook for the future of the economy dropped to a 12-year low on Tuesday.

Many polls find that most of the public sees the economy as fair or poor. A survey last month by the Pew Research Center found that 63% of Americans still see inflation as a "very big problem."

Will Trump’s tariffs impact inflation? 

Big picture view:

Some economists, and the Federal Reserve, now expect inflation to tick higher this year as a result of Trump’s many tariffs.

The president has slapped 20% tariffs on all Chinese imports, and 25% on steel and aluminum, and on Wednesday, he hit imported cars with another 25% duty. 

What they're saying:

Fed Chair Jerome Powell last week said elevated inflation from the tariffs could be temporary. But he also added the outlook was unusually uncertain given the swift changes in policy from the White House.

The Source: The Associated Press contributed to this article. Information from the U.S. Department of Commerce also contributed. This story was reported from Los Angeles. 

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