March 16--Plunging gas prices and a dip in food costs yielded a drop in consumer inflation last month, according to a Wednesday report from the Department of Labor.
The consumer price index in the Chicago-Gary-Kenosha region fell 0.2 percent in February, following a 0.9 percent gain in January, the report said. The decline is because energy prices, which include gas prices and utility costs, fell 5.8 percent last month while food costs were down 0.8 percent. Energy costs were down because gas prices dropped 14.9 percent in February, according to the report.
Excluding declines in gas and food costs, local prices rose about 0.3 percent in February. These include such items as housing, apparel, transportation, recreation and medical care. Prices were lower for apparel, but higher for shelter, medical care and recreation, the report said.
In the past year, overall local consumer prices rose 0.7 percent. Minus food and energy costs, area prices were 2.2 percent higher than last year.
crshropshire@tribpub.com
