CBS EVENING NEWS
3/12/25
6:38 PM
JOHN DICKERSON: The Labor Department says inflation slowed last month for the first time since September. Consumer prices rose 2.8%. Money Watch correspondent Kelly O'Grady has a look at what's driving prices higher and what isn't.
KELLY O’GRADY: Well, after increasing four straight months, the rate of inflation has fallen. Here's what's driving the biggest price swings. Let's start with a necessity for all of us: Groceries. While prices for most categories of groceries went down last month, meat, poultry, fish, and eggs were up more than 1.5%. That was because of beef and eggs. Eggs alone are up nearly 10.5%, largely the result of the bird flu. Gasoline prices dropped 1% in February after rising for three straight months, and airline fares fell 4%. Analysts say this could be tied to energy prices coming down, and the airlines adjusting prices to counter weaker demand. All of this could change quickly though, as today’s data does not account for the impact of the new tariffs.