US inflation stayed flat at 2.4% in February before effects of war on Iran kicked in

Effect of war on prices not reflected in data, as Trump says only ‘fools’ would think oil price shocks would be significant Sign up for the Breaking News US email to get newsletter alerts in your inbox US inflation stayed flat at 2.4% in February, according to government data released Wednesday that provides a snapshot of the US economy before it was thrown into a tailspin by the US-Israel conflict with Iran. The levelling comes after prices swung last year, reaching a four-year low in April before shooting back up in September. In late fall, inflation crept down again, reaching 2.4% in January. Core inflation, which doesn’t include the volatile energy and food industries, was 2.5%. The largest price increases were seen in shelter, medical care service and utilities. Some sectors that rely heavily on imports showed clear signs of impact from Donald Trump’s tariffs. Coffee prices were up 18.4% compared with last year. Prices for canned fruit and vegetables, which use steel and aluminum that is tariffed at 50%, were 6.2% higher, as was the price of furniture and bedding by 4.2%. Gas prices were actually down 5.2% for the year, a stark contrast to the skyrocketing prices that’s been s