Cost of living up more than expected in Feb

Washington

THE cost of living in the US excluding food and fuel rose more than forecast in February, reflecting broad-based gains that helped keep a floor under inflation.

The so-called core consumer-price index climbed 0.2 per cent for a second month, a Labor Department report showed on Tuesday in Washington. Prices overall also climbed 0.2 per cent, the first advance in four months, as fuel costs stabilised.

An improving job market is helping to underpin consumer confidence, giving American companies a little more pricing power. Members of the Federal Reserve's policymaking Federal Open Market Committee (FOMC) are looking for inflation to accelerate and close-in on their 2 p…