The consumer price index (CPI) increased a seasonally adjusted 0.3% for February, putting the 12-month inflation rate at 2.4%, according to Bureau of Labor Statistics data released Wednesday.

The annual rates were unchanged from January, indicating that inflation was holding above the Federal Reserve’s 2% target but not getting worse.

Higher oil prices could complicate the inflation outlook in coming months, as increases in gasoline and other energy products often filter through to transportation, shipping and a wide range of consumer goods. Sustained gains in crude prices can quickly show up in headline inflation readings even if underlying price pressures remain stable.

However, economists generally view such moves as temporary and likely to abate once the Iran situation cools.

Source: CNBC.com