The consumer price index rose by 0.3% for February, putting the 12-month inflation rate at 2.4%, according to the Bureau of Labor Statistics. The core CPI, excluding volatile food and energy prices, posted a 0.2% monthly reading and 2.5% annual rate, in line with forecasts. This indicates inflation is above the Federal Reserve's 2% target and that it is not increasing. However, prices rose modestly for shelter and services, while several goods categories, including used vehicles and auto insurance, saw declines.