Lower energy prices drove down inflation in February, according new federal data released this week.
The U.S. Bureau of Labor Statistics released new data Wednesday showing inflation rose just 0.2% last month, part of a 2.8% rise over the last year. The average annual inflation rate from January’s data was 3%, so overall annual inflation dropped in February.
The decrease was partially driven by a decline in energy prices, a key promise of President Donald Trump’s campaign, though whether it will last remains to be seen.
The BLS energy index decreased 0.2% on average in the last twelve months now that February’s data is released.
