AP/Washington MAR. 16 9:03 A.M. ET Inflation slowed sharply in February as food costs moderated and the price of gasoline, natural gas and other energy products posted big declines.
The Labor Department reported Thursday that its closely watched Consumer Price Index posted a tiny 0.1 percent increase last month after having jumped 0.7 percent in January. The slowdown in price pressures was certain to be welcomed at the Federal Reserve, which has been boosting interest rates since June 2004 to make sure inflation does not get out of control.
In other economic news, the number of Americans filing claims for unemployment benefits edged up to 309,000 last week, an increase of 5,000 from the previous week. Even with the slight increase, analysts said the level of claims was still signaling a strong labor market.
Thursday, March 16, 2006
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