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Price index jumps on gas prices Jump in gas prices fuels Gas spike drives US consumer prices up 0.7 percent

The CPI’s February rise was the largest since June 2009.

Toby Talbot/Associated Press

The CPI’s February rise was the largest since June 2009.

WASHINGTON — A spike in gas prices drove a measure of US consumer costs up in February by the most in more than three years. But outside the gain in fuel costs, inflation was mostly modest.

The consumer price index increased a seasonally adjusted 0.7 percent last month from January, the Labor Department said Friday. It was the biggest monthly rise since June 2009.

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Still, three-fourths of the index’s increase reflected a 9.1 percent surge in gas prices. That was also the largest monthly gain since June 2009. Gas prices had fallen in the previous four months. Since last month’s increase, gas price have started to decline again.

For the 12 months ended in February, prices increased 2.0 percent. That’s in line with the Federal Reserve’s inflation target.

Excluding volatile food and energy costs, core inflation rose just 0.2 percent in February. Over the past 12 months, core prices have risen just 2 percent.

‘‘Aside from the spike in gasoline prices, which is already being reversed, it is hard to find any evidence of major price pressures,’’ said Paul Dales, senior US economist for Capital Economics.

Low inflation leaves consumers with more money to spend, which benefits the economy. It also allows the Fed leeway to keep interest rates low to help spur economic growth.

In February, total energy costs rose 5.4 percent.

Food prices grew just 0.1 percent.

Prices for new cars fell 0.3 percent, the largest monthly decline in three years. Airline fares and clothing prices also fell.

Gas prices rose sharply in February after falling at the end of 2012.

The national average price for a gallon of gas jumped from $3.42 on Jan. 31 to $3.78 on Feb. 28.

Since then, however, gas prices have come down a bit. They averaged $3.70 per gallon on Thursday, according to AAA’s Daily Fuel Gauge Report.

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