Consumer Inflation up...

It's being reported that the Consumer Inflation Index rose 0.4 percent last month, double the January increase and the largest advance since a similar increase in December. The main reason for this increase was fuel prices for both cars and for heating as well as food prices. According to the Washington Post:

Excluding volatile food and energy prices, so-called core inflation was more moderate, rising 0.2 percent in February -- less than the 0.3 percent increase recorded in January.

Taken as a whole, the report will likely prompt the Federal Reserve to hold interest rates steady when it meets next week. Containing inflation is a central tenet of bank policy. Signs of an economic slowdown had prompted some analysts to predict the Fed may lower rates this year.

Headlines also reporting that oil has fallen to $57.00 a barrel, are getting attention. OPEC has decided that the last two cuts in production are keeping oil production levels at where they want...