The annual consumer inflation in the U.S. came in at 6% in February, easing from 6.4% in January, according to official figures released on Tuesday.
The consumer price index (CPI), which measures changes in the prices of goods and services from a consumer's perspective, came in line with the market estimate.
The figure was the smallest 12-month increase since the period ending September 2021, while it marked a sharp decline from June's 9.1% yearly gain, the largest since November 1981.
On a monthly basis, CPI rose 0.4% from the previous month, also in line with the market expectation. The figure for January was unrevised at 0.5%.
"The food index increased 0.4 percent over the month with the food at home index rising 0.3 percent. The energy index decreased 0.6 percent over the month as the natural gas and fuel oil indexes both declined," the Labor Department said in a statement.
Core CPI, which excludes food and energy, gained 0.5% in February from the previous month, also coming in line with the market estimate. January's reading was unrevised at 0.4%.
Annually, core CPI rose 5.5% in February, its smallest 12-month increase since December 2021 and also in line with market expectations, after it rose 5.6% in January year-on-year.
"The energy index increased 5.2 percent for the 12 months ending February, and the food index increased 9.5 percent over the last year," the statement said.
