Consumer prices rose slightly during President Trump's first full month in office, according to data released Wednesday by the Labor Department.

The consumer price index (CPI) rose 0.2 percent in February from January, and is up 2.8 percent on the year.

Economists expected the CPI to rise by 0.3 percent on the month and hit an annual inflation rate of 2.9 percent, according to consensus estimates.

The numbers come following four consecutive months of rising annual inflation in the CPI, which increased steadily from 2.4 percent in September to 3 percent in January.

The rise prompted President Trump to declare in February that “inflation is back.” He quickly distanced himself from the upward trend in prices, saying he had “nothing to do with that.”

Consumer........

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