2026年3月11日 12:38 UTC（路透社）
作者：露西亚·穆蒂卡尼
节点运行失败
第1项，共2项 美国加利福尼亚州洛杉矶市中心一家加油站显示的高油价，2026年3月10日。路透社/迈克·布莱克
[1/2]美国加利福尼亚州洛杉矶市中心一家加油站显示的高油价，2026年3月10日。路透社/迈克·布莱克
- 摘要
- 2月份消费者价格指数上涨0.3%
- 租金、汽油和食品是通胀上涨的主要因素
- 剔除食品和能源的核心CPI上涨0.2%
华盛顿，3月11日（路透社） – 2月份美国消费者价格温和上涨，租金保持稳定增长，但家庭在汽油和超市购物上支出增加。
美国劳工部周三发布的消费者价格指数报告还显示，上月潜在通胀有所缓和。然而，中东地区不断升级的战争（推高了石油和汽油价格）使得这份报告黯然失色。
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“由于波斯湾局势，政策制定者和公众可以有效地忽略2月份的CPI数据，因为能源冲击正在影响美国和全球经济，”RSM首席经济学家约瑟夫·布鲁苏拉斯表示。“前瞻性投资者应预期3月份总体通胀将增加0.6%。”
美国劳工部劳工统计局表示，消费者价格指数上月上涨0.3%，1月份为0.2%。路透社调查的经济学家曾预测CPI将攀升0.3%。
租金上涨0.1%，为2021年1月以来最小涨幅。汽油价格在连续两个月下降后上涨0.8%。价格上涨是预期美国和伊朗紧张局势升级的结果。
汽车倡导组织AAA的数据显示，自2月底美以对伊朗开战后，加油站价格已飙升20%，达到每加仑3.58美元。油价一度飙升至每桶100多美元，周二在唐纳德·特朗普总统表示战争可能很快结束后回落。布伦特原油周三交易价格较高。
显示汽油价格上涨幅度
消费者价格指数在特朗普全面关税政策的持续但交错的传导效应下也有所上涨。特朗普根据一项原用于国家紧急状态的法律实施了这些关税，该法律随后被美国最高法院推翻。
食品价格上月上涨0.4%，糖果和口香糖价格上涨3.7%带动了这一涨幅。水果和蔬菜价格上涨1.4%；无酒精饮料价格上涨0.8%。但乳制品及相关产品价格下降0.6%，谷物和烘焙产品价格下降0.2%。食品价格同比上涨3.1%。
截至2月份的12个月内，CPI增长2.4%，与1月份增幅持平，反映出去年高读数退出计算。
美联储追踪个人消费支出（PCE）价格指数以实现2%的通胀目标，预计下周将维持利率不变。
尽管企业吸收了大部分进口关税，但经济学家表示，企业不太可能继续这样做。他们指出，供应管理协会调查中的投入成本持续走高。特朗普回应最高法院裁决，实施了10%的全球关税，并表示将提高到15%。
美元对一篮子货币汇率走高。美国国债收益率上升。
标题：美国消费者价格指数年度变化 折线图
核心通胀目前有所缓和
剔除波动较大的食品和能源成分后，核心CPI在1月份上涨0.3%的基础上，本月上涨0.2%。所谓的核心CPI通胀受到二手车价格连续第三个月下降以及租金增长放缓的抑制。
但服装价格飙升1.3%，家庭用品和运营成本上涨0.3%，反映了进口关税的传导效应。医疗保健成本上涨0.5%，其中医院服务价格上涨0.6%，医生服务价格上涨0.3%。
截至2月份的12个月内，核心CPI上涨2.5%，与1月份增幅相同，也反映了有利的基数效应。
经济学家表示，由于权重不同以及1月份生产者价格指数报告中服务价格出现意外走强，温和的核心CPI读数不太可能转化为2月份核心PCE通胀的温和增长。
周五公布的1月份延迟的PCE价格指数数据预计将显示核心通胀强劲增长。2月份的PCE通胀数据将于4月9日公布。
报道：露西亚·穆蒂卡尼；编辑：奥罗拉·埃利斯、近山千津、安德里亚·里西
我们的标准：路透社信托原则 [新窗口打开]
US consumer prices increase moderately before Iran conflict
March 11, 2026 12:38 PM UTC / Reuters
By Lucia Mutikani
节点运行失败
Item 1 of 2 High prices for gasoline are shown at a gas station in downtown Los Angeles, California, U.S., March 10, 2026. REUTERS/Mike Blake
[1/2]High prices for gasoline are shown at a gas station in downtown Los Angeles, California, U.S., March 10, 2026. REUTERS/Mike Blake
- Summary
- Consumer price index increases 0.3% in February
- Rents, gasoline and food account for increase in inflation
- CPI excluding food and energy rises 0.2%
WASHINGTON, March 11 (Reuters) – U.S. consumer prices rose moderately in February as rents maintained a steady pace of increases, though households paid more for gasoline and at the supermarket.
The Consumer Price Index report from the Labor Department on Wednesday also showed underlying inflation muted last month. It was, however, overshadowed by an escalating war in the Middle East, which has boosted oil and gasoline prices.
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Economists anticipated an acceleration in inflation in March because of rising energy costs, and expected the Federal Reserve to keep interest rates unchanged next week.
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“Due to the events in the Persian Gulf, policymakers and the public can effectively ignore the February CPI due to the energy shock that is cascading through the U.S. and global economies,” said Joseph Brusuelas, chief economist at RSM. “Forward-looking investors should anticipate an increase in top-line inflation of 0.6% in March.”
The Consumer Price Index rose 0.3% last month after gaining 0.2% in January, the Labor Department’s Bureau of Labor Statistics said. Economists polled by Reuters had forecast the CPI climbing 0.3%.
Rents climbed 0.1%, the smallest gain since January 2021. Gasoline prices increased 0.8% after declining for two straight months. The rise in prices was in anticipation of an escalation in tensions between the U.S. and Iran.
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Prices at the pump have jumped 20% to $3.58 per gallon since the U.S.-Israeli war on Iran started at the end of February, data from motorist advocacy group AAA showed. Oil prices shot up well above $100 per barrel, before pulling back on Tuesday after President Donald Trump stated the war could end soon. Brent crude was trading higher on Wednesday.
Shows size of gas price increase
The CPI also rose amid the continued, but staggered pass-through from Trump’s sweeping tariffs, which he pursued under a law meant for use in national emergencies that has since been struck down by the U.S. Supreme Court.
Food prices shot up 0.4% last month, lifted by a 3.7% jump in candy and chewing gum prices. Fruit and vegetable prices increased 1.4%; nonalcoholic beverages cost 0.8% more. But prices for dairy and related products dropped 0.6% and the cost of cereals and bakery products fell 0.2%. Food prices are 3.1% higher than a year ago.
In the 12 months through February, the CPI advanced 2.4%, matching January’s increase, and reflecting last year’s high readings dropping out of the calculation.
The Federal Reserve tracks the Personal Consumption Expenditures price indexes for its 2% inflation target, and is expected to keep interest rates unchanged next week.
Though businesses have absorbed much of the import duties, economists said they were unlikely to continue doing so, citing among others persistently higher readings of input costs in the Institute for Supply Management surveys. Trump has responded to the Supreme Court ruling by imposing a 10% global tariff, which he said would rise to 15%.
The dollar was trading higher against a basket of currencies. U.S. Treasury yields rose.
A line chart with the title ‘Annual change in US Consumer Price Index’
CORE INFLATION MUTED FOR NOW
Excluding the volatile food and energy components, the CPI gained 0.2% after rising 0.3% in January. The so-called core CPI inflation was curbed by a third straight monthly decline in used motor vehicle prices, as well as the smaller increase in rents.
But apparel prices surged 1.3% while the cost of household furnishings and operations rose 0.3%, reflecting the pass-through from import duties. Healthcare costs increased 0.5%, with hospital services shooting up 0.6% and prices for physicians’ services rising 0.3%.
In the 12 months through February, the core CPI increased 2.5% after rising by the same margin in January, also reflecting favorable base effects.
Economists said the tame core CPI readings were unlikely to translate into moderate core PCE inflation gains in February because of different weights and unexpected strength in services prices in the January Producer Price Index report.
January’s delayed PCE price index data due on Friday is expected to show a solid increase in core inflation. February’s PCE inflation data will be released on April 9.
Reporting by Lucia Mutikani; Editing by Aurora Ellis, Chizu Nomiyama and Andrea Ricci
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