NEW YORK, Feb. 20 (Xinhua) -- Crude prices fell Friday as weak economic data signaled that the world's energy demand will shrink further.

    The U.S. Labor Department reported Friday that consumer prices rose by 0.3 percent last month, the biggest monthly increase since a 0.7 percent rise in July.

    Disappointing corporate earnings results added to the pessimism of the market. Both Lowe's and J.C. Penney missed fourth-quarter earnings expectations as the slumping economy hurt U.S. businesses. They also warned that 2009 earnings forecast is below analysts' expectations.

    Light, sweet crude for March delivery fell 54 cents to settle at 38.94 U.S. dollars on the New York Mercantile Exchange. Crude for April delivery fell 15 cents to 40.03 dollars a barrel.

    Brent prices fell 10 cents to settle at 41.89 dollars on the ICE Futures exchange in London.