The US consumer price index rose by 0.3% from the previous month in February, picking up from the 0.2% increase in the previous month and matching market expectations. Prices rose sharply for fuel oil (11.1 vs -5.7% in January) and gasoline (0.8% vs -3.2%), lifting aggregate energy costs by 0.6%. Energy prices are due to rise further in March as the war in Iran triggered a surge in energy commodity prices. In the meantime, food costs rose by 0.4% (vs 0.2%) amid increases in food at home (0.4% vs 0.2%) and away from home (0.3% vs 0.1%). Core consumer prices rose by 0.2% from the five-month high of 0.3% in January, with support from medical care services (0.6% vs 0.3%) offsetting the decline in used cars and trucks (-0.4% vs -1.8%).