Consumer prices climb at their fastest pace in 5 years

Blowing up balloonMatthias Hangst/Getty ImagesMan with a green beard blows up a balloon

The latest release of the consumer price index for the month of February came in nearly right in line with expectations on Wednesday.

The index tracking the prices of consumer goods rose 0.1% month-over-month (0.0% expected) and increased by 2.7% year-over-year (2.7% expected).

Core CPI, which strips out the volatile food and energy categories, increased 0.2% from January (o.2% expected) and 2.2% from the same month a year ago (2.2% expected).

The release was the highest headline gain for the index since February 2012 when it increased 2.9%.

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