The United States Bureau of Labor Statistics released its data on February CPI and core inflation today.The data showed that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis, after rising 0.3 percent in January.
Source: https://www.bls.gov/news.release/pdf/cpi.pdf Year-on-year, CPI for all items rose by 3.2% in the twelve months ended February 2024, before seasonal adjustment.Core inflation (that is, inflation for all items less food and energy) rose 0.4 percent month-on-month in February, as it did in January and ahead of market expectations.Ahead of the release, economists broadly expected CPI to be up roughly 3.1% year-on-year, and a 0.3% rise in core inflation month-on-month.This means that both MoM and YoY inflation figures proved to be higher than estimates for February.More By This Author:Argentina Cuts Interest Rates To 80% As Inflation Cools Realty Income Is A Beloved Dividend Stock: Is It A Good Buy? Stocks Dip Second Time In A Row As Investors Await Inflation Data
