WASHINGTON (AP) — An inflation gauge closely watched by the Federal Reserve remained high last month even before the impact of most tariffs has been felt. Americans’ spending rebounded in February after a fall last month and incomes increased. Friday’s report from the Commerce Department showed that consumer prices increased 2.5% in February from a year earlier, matching January’s annual pace. Excluding the volatile food and energy categories, prices rose 2.8% compared with a year ago, higher than January’s figure of 2.7%. Inflation remains a top economic concern for most Americans, even as it has fallen sharply from its 2022 peak.
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