Inflation held firm last month — but the war with Iran could change that

By Elisabeth Buchwald, CNN

(CNN) — Annual inflation was unchanged last month at 2.4%, according to the latest Consumer Price Index, released Wednesday.

On a monthly basis, prices rose 0.3% in February, a faster pace than January’s 0.2%, according to the Bureau of Labor Statistics.

The February inflation data was gathered before the United States and Israel launched an attack on Iran. The two-week conflict has already pushed up energy costs and raised prices at the pump for Americans. Those increases could begin to show up in inflation data in the coming months.

Economists had forecast a 0.3% monthly increase and an annual rate of 2.5%.

This is a developing story and will be updated.

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