U.S. Inflation ticked higher last month, reversing some recent progress

(CNN)– Inflation ticked up last month reversing recent progress.

The Federal Reserve’s preferred gauge, the personal consumption expenditure price index was up two-and-a-half percent for the 12 months that ended in February.

That’s a faster pace than January’s two point four percent increase. The fed has been working to get inflation down to two percent.

Still there were a few bright spots, both the overall monthly pace of price increases and the personal consumption expenditures excluding energy and food slowed a bit.