Local consumer inflation steady at 1.2 percent a year
Higher shelter and food prices pushed two-month increase to 0.7 percent.
Seattle Times business reporter
Seattle’s one-year inflation rate remained steady in January and February as consumer prices rose 1.2 percent over the past 12 months, the Bureau of Labor Statistics reported Tuesday.
Overall consumer prices in the Seattle area increased 0.7 percent on a nonseasonally adjusted basis from December, due to higher prices for shelter and food.
Nationwide, overall prices climbed 1.1 percent over the past year, down from a 1.6 percent rise in January. The U.S. Consumer Price Index ticked up 0.1 percent from January to February, as lower gas prices offset higher food costs.
Unlike the national inflation rate, which is tracked monthly, prices for metro areas such as Seattle are measured every other month. They are not adjusted for seasonal variations.
Local gasoline prices increased 0.7 percent for the two months ending in February, while food prices rose 0.8 percent.
Excluding food and energy costs, so-called core prices climbed 0.6 percent from December to February, led by a 0.9 percent rise in both shelter and medical care costs.
Two months ago, overall prices in the Seattle area had risen 1.3 percent over the past year.
Amy Martinez: 206-464-2923 or firstname.lastname@example.org. On Twitter: @amyemartinez