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Inflation, as measured by the Consumer Price Index for all Urban Consumers (CPI-U), rose 3.2 percent nationwide in the 12 months ending February ’24. On a monthly basis, U.S. consumer prices rose 0.4 percent.  In Houston, prices rose 3.5 percent over the year and 1.0 percent in the two months ending February ’24. 

Nationwide, core inflation, which excludes volatile food and energy prices, rose 3.8 percent over the 12 months ending February ’23. In Houston, core inflation rose 3.7 percent since February ’23. 

Over the past 12 months, Houstonians saw significant increases (i.e., 4.0 percent or more) in the cost of apparel, housing, restaurant meals, and utility gas; nominal increases in the cost of household furnishings and medical care; and decreases in the cost of electricity, gasoline, used vehicles, education, communication and recreation expenses. New vehicle prices were flat.

The next release of national CPI data will be on Wednesday, April 10, 2024.

Prepared by Greater Houston Partnership Research

Patrick Jankowski, CERP
Chief Economist
Senior Vice President, Research
pjankowski@aifengcai.com

Leta Wauson
Research Director
lwauson@aifengcai.com