Gasoline lifts inflation, dents confidence

A commuter drives past a gas station signage displaying current prices for gasoline in La JollaWASHINGTON (Reuters) – Consumer prices rose the most in 10 months in February as the cost of gasoline spiked, but there was little sign that underlying inflation pressures were building up. Surging gasoline prices put a small dent in consumer confidence early this month, other data showed on Friday. Still, Americans do not believe the sharp run up in prices will last. The Labor Department said the Consumer Price Index rose 0.4 percent in February after advancing 0.2 percent in January. Gasoline accounted for more than 80 percent of the rise. …



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