WASHINGTON - Consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.
But the increase appeared to ease many economists' concerns about dangerous price movements in either direction. The recession is expected to dampen any inflation pressures for at least the rest of this year, while the slight uptick in prices over the last two months also has made the possibility of deflation more remote.
The Labor Department reported Wednesday that consumer inflation rose 0.4 percent in February, the biggest one-month jump since a 0.7 percent rise in July. Two-thirds of last month's increase, which was slightly more than analysts expected, reflected a big jump in gasoline pump prices.
Core inflation, which excludes food and energy, rose 0.2 percent in February, also slightly higher than the 0.1 percent rise economists expected.
Over the past 12 months, consumer prices have risen just 0.2 percent. That was up slightly from a reading of zero for the 12 months ending in January, which had been the smallest annual change in more than a half-century.
Gas prices surged 8.3 percent last month after a 6 percent rise in January. Both gains followed several months of huge declines in prices at the pump.
Total energy costs rose 3.3 percent in February, after a 1.7 percent January rise. But energy prices are still down 18.5 percent from a year ago.
Clothing costs shot up 1.3 percent in February, the biggest one-month rise since March 1990. The gain likely reflected a rebound from steep discounts offered in January as retailers were clearing store shelves after the worst holiday season in decades.
