The latest inflation data from the Labor Department showed that price increases continued at a steady pace in February, though some items saw notable price hikes or declines.

The Bureau of Labor Statistics found that the consumer price index (CPI) rose 2.4% from a year ago in February, a figure that was in line with the expectations of economists polled by LSEG and unchanged from January’s reading.

Core CPI inflation – a figure which excludes volatile measures of food and energy prices – was up 2.5% in February, also in line with expectations and unchanged from a month ago.

The readings for both headline and core CPI were above the Federal Reserve’s long-run target of 2% annual inflation but well below the 9.1% high recorded in June 2022 amid the pandemic-era inflation surge.

INFLATION HELD STEADY IN FEBRUARY AND REMAINED ABOVE THE FED’S TARGET

The BLS reported that headline inflation was up 2.4% from a year ago, while core CPI was up 2.5% in February. (Kena Betancur/Bloomberg/Getty Images / Getty Images)

Here’s a look at some popular items from the February CPI report that saw notable increases or decreases in prices.

Rising prices

Coffee prices were up 18.4% from a year ago in February. The U.S. imports the majority of its coffee and those imports were subject to higher tariffs for most of 2025 before an exemption was put in place to address affordability concerns.

Lettuce prices rose 15.3% on an annual basis through February, including a 12.2% monthly increase. A confluence of factors has impacted lettuce prices, including a disease affecting some lettuce grown in California, agricultural labor shortages due to immigration enforcement, as well as a seasonal transition between growing regions.

BEEF PRICES SOAR AS AMERICAN FAMILIES PAY STEEP PRICES FOR STEAKS AND BURGERS NATIONWIDE

Coffee prices jumped over the last year in large part due to tariffs. (Carlo Allegri/Reuters / Reuters Photos)

Beef and veal prices increased 14.4% year over year, and within that category, beef steaks were up 16.3% while ground beef was up 15.2% and beef roasts rose 12.4%. Beef prices have risen as the U.S. cattle inventory is at a 70-year low due to drought and wildfires in key ranching regions, as well as higher overhead costs facing ranchers.

Audio equipment prices rose 13.5% on an annual basis through February. A combination of tariffs, rising raw material costs for inputs like copper and gold, as well as increased demand for components such as chips that are also used in artificial intelligence data centers contributed to the rise.

Utility gas service prices were up 10.9% from a year ago in February, including a 3.1% monthly increase. Natural gas prices were volatile amid geopolitical tensions prior to the outbreak of the Iran war at the end of February, as well as due to increased demand for U.S. natural gas exports to Europe and Asia.

HOW THE IRAN WAR COULD HIT AMERICANS’ GROCERY BILLS

Egg prices are normalizing after an avian flu outbreak prompted a price surge in the last few years. (Ronaldo Schemidt/AFP)

Falling prices

Egg prices plunged 42.1% in February compared with last year, including a 3.8% monthly decline. The decline is occurring as the egg supply chain normalizes after an avian flu outbreak impacted inventory levels in recent years, prompting dramatic price increases.

Smartphone prices fell 13.9% from a year ago in February, in part because the BLS index includes older smartphone models that have been discounted and also accounts for the tech improvements. That means a more capable phone at a higher price may be reflected as a price decline due to the relative capability improvement. Additionally, smartphones were generally exempt from tariffs in 2025, unlike some other electronic devices like audio equipment.

Tax return preparation and accounting fees declined 6.4% over the last year. The decline was driven by the integration of AI into tax software as well as the expansion of the IRS’ Direct File and Free File programs and more simplistic tax forms for self-filers.

WILL TAPPING OIL RESERVES CURB SOARING GAS PRICES?

The war in Iran has pushed oil and gas prices higher in the time since the BLS collected data for the February inflation report. (Giuseppe Cacace/AFP via Getty Images)

Gasoline prices were down 5.6% year over year in February, inclusive of a 0.8% increase for the month. The BLS’ data was collected prior to the outbreak of the Iran war, which has pushed oil and gasoline prices significantly higher in recent weeks.

Television prices fell 4.1% in the last year through February, continuing a longstanding deflationary trend in TV prices. The BLS uses a similar model for TVs as it does for smartphones, so improved features or larger TVs can result in a reported decline in prices due to tech and capability improvements.

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ING ranks Europe’s most talked-about cities

Birmingham has been named as one of Europe’s fastest growing cities despite recent turmoil and unwanted headlines.

A new study that looks at how much cities are talked about praised Brum’s “vibrant” cultural scene, “well-defined” civic identity and ambition for the future.

The report comes from consultancy ING, which ranks Europe’s most talked about cities every year, measuring online mentions from news outlets, digital publications and social media.

The ranking is used as an indicator of how visible cities are in the online conversation, which in turn is linked to their overall success in attracting tourism, investment and business.

This year’s report expanded from 60 to 70 cities Europe-wide, which ING says is a reflection of the fact that more places are generating enough attention to compete than ever before.

But despite the tougher competition, Birmingham actually climbed two places – making it one of the ten fastest rising cities overall.

The city now sits ahead of larger capitals such as Prague, and well-known European hubs including Oslo, Copenhagen and Rotterdam.

“Birmingham is the UK’s youngest and most diverse major city, and that profile feeds a cultural scene that is far more vibrant than its national visibility often suggests,” the report reads.

“Major city centre reconfiguration, new public spaces and better integrated transport are bold signals of intent and momentum to the outside world.

“This energy sits alongside a well-defined civic identity: being ‘Brummie’ is rooted in pride, resilience and a long lineage of creativity.

“The passing of Ozzy Osbourne, one of Birmingham’s most globally recognised and beloved figures, brought that identity into sharp focus in 2025.”

Looking ahead to the future, it also pointed to HS2 and the city council being back on a “stable financial footing” as positive signs.

“Birmingham is presenting itself more clearly as a place of ambition and

collective purpose and conversations about the city increasingly reflect that shift,” it said.

Lucie Murray, head of cities at ING, said Birmingham’s climb in the ranking “reflects a city that’s actively reshaping both its reality and its reputation”.

“Birmingham’s cultural legacy has become more visible,” she continued.

“The global tributes following the death of Ozzy Osbourne in 2025 sparked renewed attention on the city’s contribution to music, reminding the world about Birmingham’s global cultural impact.”

Damian Wild, managing director at ING, added: “In a year when competition intensified and many cities fell back, Birmingham moved forward on both counts.

“After a period caught in the headlines for the wrong reasons, the focus is finally focusing on the city’s many strengths, and rightly so.”

Europe’s 10 top most talked-about cities overall, according to the study, are as follows:

• Paris
• London
• Madrid
• Rome
• Milan
• Barcelona
• Berlin
• Amsterdam
• Brussels
• Valencia

Manchester and Liverpool came in at 11th and 14th place respectively, while Birmingham was 27th overall – just a few places behind the likes of Porto, Budapest and Edinburgh.

The 10 fastest-rising cities in this year’s rankings included Manchester, Porto, Munich, Budapest and Hamburg.

Ahead of local elections in May, the leader of Labour-run Birmingham Council suggested that “great days” could be ahead for the city.

Asked what Birmingham Labour’s message will be to voters, Councillor John Cotton said: “It needs to be about the great opportunities here in this city.

“We are the youngest and most diverse city in the country.

“We know we’ve got problems when it comes to unemployment, too many people still feel locked out of growth in this city.

“That’s the bit we’re going to now focus on fixing, creating those pathways to those jobs in the growth industries – whether it’s life sciences, creative industries, advanced manufacturing.

“Great days ahead if we seize them and work together at all levels of government – and also with businesses and communities in this city.”

Factors such as the equal pay and Oracle debacles contributed to the recent financial strife at the council while Labour councillors have argued that funding cuts during the previous Conservative government played a role.

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