Wednesday, November 11, 2026Mortgage news · Rates & market context

Inflation · ORIGINAL ECONOMIC RELEASE

February 2025 Consumer Price Index

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in February, after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months,…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis in February, after rising 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.8 percent before seasonal adjustment.

The index for shelter rose 0.3 percent in February, accounting for nearly half of the monthly all items increase. The shelter increase was partially offset by a 4.0-percent decrease in the index for airline fares and a 1.0-percent decline in the index for gasoline. Despite the decrease in the gasoline index, the energy index rose 0.2 percent over the month as the indexes for electricity and natural gas increased. The index for food also increased in February, rising 0.2 percent as the index for food away from home increased 0.4 percent. The food at home index was unchanged over the month.

The index for all items less food and energy rose 0.2 percent in February, following a 0.4-percent increase in January. Indexes that increased over the month include medical care, used cars and trucks, household furnishings and operations, recreation, apparel, and personal care. The indexes for airline fares and new vehicles were among the few major indexes that decreased in February.

The all items index rose 2.8 percent for the 12 months ending February, after rising 3.0 percent over the 12 months ending January. The all items less food and energy index rose 3.1 percent over the last 12 months. The energy index decreased 0.2 percent for the 12 months ending February. The food index increased 2.6 percent over the last year.

Food

The index for food increased 0.2 percent in February, after rising 0.4 percent in January. The food at home index was unchanged over the month as declines in four of the six major grocery store food group indexes were offset by increases in the remaining two. The index for other food at home decreased 0.5 percent in February as did the index for fruits and vegetables and the index for nonalcoholic beverages. The dairy and related products index declined 1.0 percent over the month.

Driven primarily by a 10.4-percent increase in the index for eggs, the index for meats, poultry, fish, and eggs rose 1.6 percent in February. The beef index also increased over the month, rising 2.4 percent. The index for cereals and bakery products rose 0.4 percent in February, after falling 0.4 percent in January.

The food away from home index rose 0.4 percent in February. The index for full service meals rose 0.4 percent over the month and the index for limited service meals rose 0.3 percent.

The food at home index rose 1.9 percent over the last 12 months. The index for meats, poultry, fish, and eggs rose 7.7 percent over the last 12 months as the index for eggs increased 58.8 percent. The nonalcoholic beverages index increased 2.1 percent over the same period, while the dairy and related products index rose 0.8 percent, and the cereals and bakery products index increased 0.3 percent. The index for other food at home increased 0.1 percent over the year. In contrast, the fruits and vegetables index decreased 0.2 percent over the same period.

The food away from home index rose 3.7 percent over the last year. The index for full service meals also rose 3.7 percent and the index for limited service meals rose 3.5 percent over the same period.

Energy

The energy index increased 0.2 percent in February, after rising 1.1 percent in January. The gasoline index decreased 1.0 percent over the month. (Before seasonal adjustment, gasoline prices increased 1.3 percent in February.) The index for natural gas rose 2.5 percent over the month and the index for electricity increased 1.0 percent.

The energy index decreased 0.2 percent over the past 12 months. The gasoline index fell 3.1 percent over this 12-month span and the fuel oil index fell 5.1 percent over that period. In contrast, the index for electricity increased 2.5 percent over the last 12 months and the index for natural gas rose 6.0 percent.

All items less food and energy

The index for all items less food and energy rose 0.2 percent in February, following a 0.4-percent increase in January. The shelter index increased 0.3 percent over the month. The index for owners' equivalent rent rose 0.3 percent in February, as did the index for rent. The lodging away from home index increased 0.2 percent in February.

The medical care index increased 0.3 percent over the month. The index for physicians' services increased 0.4 percent in February and the index for hospital services rose 0.1 percent over the month. The prescription drugs index was unchanged in February.

The used cars and trucks index rose 0.9 percent in February. The index for household furnishings and operations rose 0.4 percent over the month and the index for recreation increased 0.3 percent. Other indexes that increased in February include apparel, personal care, and motor vehicle insurance. In contrast, the index for airline fares fell 4.0 percent in February, after rising 1.2 percent in January. The index for new vehicles also declined over the month, falling 0.1 percent.

The index for all items less food and energy rose 3.1 percent over the past 12 months. The shelter index increased 4.2 percent over the last year, the smallest 12-month increase since December 2021. Other indexes with notable increases over the last year include motor vehicle insurance (+11.1 percent), medical care (+2.9 percent), recreation (+1.8 percent), and education (+3.7 percent).

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.8 percent over the last 12 months to an index level of 319.082 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.7 percent over the last 12 months to an index level of 312.460 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.6 percent over the last 12 months. For the month, the index increased 0.4 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Changes to leased cars and trucks source data and methodology

With the release of April 2025 data on May 13, 2025, the Bureau of Labor Statistics (BLS) will replace the survey data collected for the CPI's leased cars and trucks index with transaction data purchased from a vendor to increase the accuracy of the index.

The Measuring Price Change in the CPI: Leased cars and trucks factsheet at https://www.bls.gov/cpi/factsheets/leased-cars-and-trucks.htm will be updated on release day to reflect these changes.

Source: U.S. Bureau of Labor Statistics · Original release Mar 12, 2025.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read consumer inflation on a consistent basis

The Consumer Price Index measures changes in prices paid by urban consumers for a basket of goods and services. Check the index, reference month and seasonal adjustment before comparing figures. A monthly change and a twelve-month change describe different periods; the all-items index and the measure excluding food and energy cover different baskets. Consumer inflation informs the wider policy discussion, but the benchmark comparison below does not isolate this release from other information arriving during the month. BLS Consumer Price Index.

Nearest published observation on or before each target date
Benchmark30 days earlierFeb 10, 2025Publication referenceMar 12, 202530 days laterApr 11, 2025
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.89%Observed 6.63%Observed −26 bps vs. earlier reference6.62%Observed −1 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.51%Observed 4.32%Observed −19 bps vs. earlier reference4.48%Observed +16 bps vs. publication reference

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Dec 12, 2024 – Jun 12, 2025
Historical mortgage and Treasury observations around Mar 12, 2025Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.4.00%5.75%7.50%Publication date30-year fixed mortgage: 6.60% · Dec 12, 202430-year fixed mortgage: 6.72% · Dec 19, 202430-year fixed mortgage: 6.85% · Dec 26, 202430-year fixed mortgage: 6.91% · Jan 2, 202530-year fixed mortgage: 6.93% · Jan 9, 202530-year fixed mortgage: 7.04% · Jan 16, 202530-year fixed mortgage: 6.96% · Jan 23, 202530-year fixed mortgage: 6.95% · Jan 30, 202530-year fixed mortgage: 6.89% · Feb 6, 202530-year fixed mortgage: 6.87% · Feb 13, 202530-year fixed mortgage: 6.85% · Feb 20, 202530-year fixed mortgage: 6.76% · Feb 27, 202530-year fixed mortgage: 6.63% · Mar 6, 202530-year fixed mortgage: 6.65% · Mar 13, 202530-year fixed mortgage: 6.67% · Mar 20, 202530-year fixed mortgage: 6.65% · Mar 27, 202530-year fixed mortgage: 6.64% · Apr 3, 202530-year fixed mortgage: 6.62% · Apr 10, 202530-year fixed mortgage: 6.83% · Apr 17, 202530-year fixed mortgage: 6.81% · Apr 24, 202530-year fixed mortgage: 6.76% · May 1, 202530-year fixed mortgage: 6.76% · May 8, 202530-year fixed mortgage: 6.81% · May 15, 202530-year fixed mortgage: 6.86% · May 22, 202530-year fixed mortgage: 6.89% · May 29, 202530-year fixed mortgage: 6.85% · Jun 5, 202530-year fixed mortgage: 6.84% · Jun 12, 202510-year Treasury: 4.32% · Dec 12, 202410-year Treasury: 4.40% · Dec 13, 202410-year Treasury: 4.39% · Dec 16, 202410-year Treasury: 4.40% · Dec 17, 202410-year Treasury: 4.50% · Dec 18, 202410-year Treasury: 4.57% · Dec 19, 202410-year Treasury: 4.52% · Dec 20, 202410-year Treasury: 4.59% · Dec 23, 202410-year Treasury: 4.59% · Dec 24, 202410-year Treasury: 4.58% · Dec 26, 202410-year Treasury: 4.62% · Dec 27, 202410-year Treasury: 4.55% · Dec 30, 202410-year Treasury: 4.58% · Dec 31, 202410-year Treasury: 4.57% · Jan 2, 202510-year Treasury: 4.60% · Jan 3, 202510-year Treasury: 4.62% · Jan 6, 202510-year Treasury: 4.67% · Jan 7, 202510-year Treasury: 4.67% · Jan 8, 202510-year Treasury: 4.68% · Jan 9, 202510-year Treasury: 4.77% · Jan 10, 202510-year Treasury: 4.79% · Jan 13, 202510-year Treasury: 4.78% · Jan 14, 202510-year Treasury: 4.66% · Jan 15, 202510-year Treasury: 4.61% · Jan 16, 202510-year Treasury: 4.61% · Jan 17, 202510-year Treasury: 4.57% · Jan 21, 202510-year Treasury: 4.60% · Jan 22, 202510-year Treasury: 4.65% · Jan 23, 202510-year Treasury: 4.63% · Jan 24, 202510-year Treasury: 4.53% · Jan 27, 202510-year Treasury: 4.55% · Jan 28, 202510-year Treasury: 4.55% · Jan 29, 202510-year Treasury: 4.52% · Jan 30, 202510-year Treasury: 4.58% · Jan 31, 202510-year Treasury: 4.54% · Feb 3, 202510-year Treasury: 4.52% · Feb 4, 202510-year Treasury: 4.43% · Feb 5, 202510-year Treasury: 4.45% · Feb 6, 202510-year Treasury: 4.49% · Feb 7, 202510-year Treasury: 4.51% · Feb 10, 202510-year Treasury: 4.54% · Feb 11, 202510-year Treasury: 4.62% · Feb 12, 202510-year Treasury: 4.52% · Feb 13, 202510-year Treasury: 4.47% · Feb 14, 202510-year Treasury: 4.55% · Feb 18, 202510-year Treasury: 4.53% · Feb 19, 202510-year Treasury: 4.50% · Feb 20, 202510-year Treasury: 4.42% · Feb 21, 202510-year Treasury: 4.40% · Feb 24, 202510-year Treasury: 4.30% · Feb 25, 202510-year Treasury: 4.25% · Feb 26, 202510-year Treasury: 4.29% · Feb 27, 202510-year Treasury: 4.24% · Feb 28, 202510-year Treasury: 4.16% · Mar 3, 202510-year Treasury: 4.22% · Mar 4, 202510-year Treasury: 4.28% · Mar 5, 202510-year Treasury: 4.29% · Mar 6, 202510-year Treasury: 4.32% · Mar 7, 202510-year Treasury: 4.22% · Mar 10, 202510-year Treasury: 4.28% · Mar 11, 202510-year Treasury: 4.32% · Mar 12, 202510-year Treasury: 4.27% · Mar 13, 202510-year Treasury: 4.31% · Mar 14, 202510-year Treasury: 4.31% · Mar 17, 202510-year Treasury: 4.29% · Mar 18, 202510-year Treasury: 4.25% · Mar 19, 202510-year Treasury: 4.24% · Mar 20, 202510-year Treasury: 4.25% · Mar 21, 202510-year Treasury: 4.34% · Mar 24, 202510-year Treasury: 4.31% · Mar 25, 202510-year Treasury: 4.35% · Mar 26, 202510-year Treasury: 4.38% · Mar 27, 202510-year Treasury: 4.27% · Mar 28, 202510-year Treasury: 4.23% · Mar 31, 202510-year Treasury: 4.17% · Apr 1, 202510-year Treasury: 4.20% · Apr 2, 202510-year Treasury: 4.06% · Apr 3, 202510-year Treasury: 4.01% · Apr 4, 202510-year Treasury: 4.15% · Apr 7, 202510-year Treasury: 4.26% · Apr 8, 202510-year Treasury: 4.34% · Apr 9, 202510-year Treasury: 4.40% · Apr 10, 202510-year Treasury: 4.48% · Apr 11, 202510-year Treasury: 4.38% · Apr 14, 202510-year Treasury: 4.35% · Apr 15, 202510-year Treasury: 4.29% · Apr 16, 202510-year Treasury: 4.34% · Apr 17, 202510-year Treasury: 4.42% · Apr 21, 202510-year Treasury: 4.41% · Apr 22, 202510-year Treasury: 4.40% · Apr 23, 202510-year Treasury: 4.32% · Apr 24, 202510-year Treasury: 4.29% · Apr 25, 202510-year Treasury: 4.23% · Apr 28, 202510-year Treasury: 4.19% · Apr 29, 202510-year Treasury: 4.17% · Apr 30, 202510-year Treasury: 4.25% · May 1, 202510-year Treasury: 4.33% · May 2, 202510-year Treasury: 4.36% · May 5, 202510-year Treasury: 4.30% · May 6, 202510-year Treasury: 4.26% · May 7, 202510-year Treasury: 4.37% · May 8, 202510-year Treasury: 4.37% · May 9, 202510-year Treasury: 4.45% · May 12, 202510-year Treasury: 4.49% · May 13, 202510-year Treasury: 4.53% · May 14, 202510-year Treasury: 4.45% · May 15, 202510-year Treasury: 4.43% · May 16, 202510-year Treasury: 4.46% · May 19, 202510-year Treasury: 4.48% · May 20, 202510-year Treasury: 4.58% · May 21, 202510-year Treasury: 4.54% · May 22, 202510-year Treasury: 4.51% · May 23, 202510-year Treasury: 4.43% · May 27, 202510-year Treasury: 4.47% · May 28, 202510-year Treasury: 4.43% · May 29, 202510-year Treasury: 4.41% · May 30, 202510-year Treasury: 4.46% · Jun 2, 202510-year Treasury: 4.46% · Jun 3, 202510-year Treasury: 4.37% · Jun 4, 202510-year Treasury: 4.40% · Jun 5, 202510-year Treasury: 4.51% · Jun 6, 202510-year Treasury: 4.49% · Jun 9, 202510-year Treasury: 4.47% · Jun 10, 202510-year Treasury: 4.41% · Jun 11, 202510-year Treasury: 4.36% · Jun 12, 2025Dec 12, 2024Mar 12, 2025Jun 12, 2025
30-year fixed mortgage27 observations10-year Treasury125 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,921.92/month

6.63% · Mar 6, 2025

At the later reference$1,919.94/month

6.62% · Apr 10, 2025

The illustrative principal-and-interest payment is $1.98 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

How policy and mortgage rates connect →See current advertised mortgage options →