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Consumer prices climb

Friday, March 21, 2003 | 9:57 a.m.

WASHINGTON -- U.S. consumer prices last month rose at the fastest pace in two years as energy costs surged before the war with Iraq. With oil prices now dropping, economists predicted inflation will remain tame.

The consumer price index, the most widely followed measure of inflation, jumped 0.6 percent in February, matching the previous high of January 2001. Excluding volatile food and energy costs, the so-called core rate climbed 0.1 percent, resulting in the smallest 12-month gain since March 1966.

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