Key inflation gauge remains elevated in February before Iran war

WASHINGTON (AP) — A key measure of inflation stayed high in February, before the war in Iran spiked gas prices, a sign that everyday costs were elevated even before the conflict began.

An inflation gauge monitored by the Federal Reserve rose 0.4% in February from January, up slightly from the previous month. Compared with a year ago, prices rose 2.8%, the same as January. Thursday’s data was delayed by a backlog of economic reports created by the six-week government shutdown last fall.