By Jeffry Bartash
WASHINGTON (MarketWatch) - U.S. consumer prices rose a seasonally adjusted 0.1% in February because of higher food and housing costs, the Labor Department said Tuesday. Food prices jumped 0.4% in February - the biggest increase since September 2011 - but they are only up 1.4% over the past year. Energy prices fell 0.5% as lower gasoline costs offset increases in fuel oil and natural gas. The core CPI, which excludes volatile food and energy costs, also rose 0.1%, driven by another increase in housing expenses. Economists surveyed by MarketWatch had expected the overall CPI and core rate to both increase by 0.1%. Consumer prices have risen an unadjusted 1.1% over the past 12 months or by 1.6% on a core basis. Real or inflation-adjusted hourly wages, meanwhile, climbed 0.3% in February to $10.34 . Real wages have risen 1.1% over the past 12 months.
