March 12 (UPI) -- The consumer price index increased 3.2% over the past year, remaining stubbornly higher than the Federal Reserve benchmark of 2%, but likely not enough to spark an interest rate increase, the U.S. Labor Department reported Tuesday.
The CPI for all urban consumers bumped up 0.4% in February as compared to January on a seasonally adjusted basis, according to the report from the Bureau of Labor Statistics.