U.S. consumer prices climb 0.4% in February

WASHINGTON (MarketWatch)
U.S. consumer prices increased 0.4% in February, owing mainly to the surging cost of gas, the Labor Department said Friday
So-called core prices rose a smaller 0.1% on a seasonally adjusted basis
The core consumer price index strips out volatile food and energy costs
Economists surveyed by MarketWatch had forecast a 0.5% increase in the CPI, with a 0.2% rise in the core rate
Consumer prices have risen an unadjusted 2.9% over the past 12 months, unchanged from January
The core rate has increased 2.2% over the past 12 months, down from 2.3% in January
The government also reported that inflation-adjusted hourly wages, on average, fell 0.3% in February as higher prices outstripped a 0.1% gain in earnings