MercoPress. South Atlantic News Agency

Inflation fears in United States

United States consumer price index jumped 0,4% last February over January, the highest surge since October, while the basic index, excluding food and energy, increased 0,3%.

This is the highest rise since last September points out the US Labour Department.

Analysts were expecting a lower increase, 0,3% and 0,2% for the basic index.

The release had a significant impact in world stock exchanges since it follows Tuesday's Federal Reserve decision to increase interest rates for the seventh time running another 25 points to 2,75%.

In its release the Federal Reserve was also insistent on its determination to combat creeping inflationary tendencies and to continue with further increases if necessary.

In the last twelve months the US consumer index has risen 3% and the basic index 2,4%.

The latest increase responds to a strong 2% surge in energy prices during February, while food prices remained contained with just a 0,1% increase.

Last January the consumer price index was up 0,1% and 0,2% excluding food and energy.