Inflation cooled slightly in February compared to previous month, 2.8% now compared to 12 months ago

The Labor Department reported Wednesday the prices for goods and services in February increased 0.2%, compared to the previous month, after rising 0.5% from December 2024 to January.

The report, the department's Bureau of Labor Statistic's consumer price index, is wide-ranging measure of costs across the U.S. economy.

The report also shows the cost of goods over the last 12 months increased 2.8%.

Economists predicted that the consumer price index would increase to 2.9%, according to CBS News. 

A primary driver for the month-over-month increase was the rising cost of eggs, the report also states.