U.S. consumer prices rise in February, but underlying inflation slowing GlobeBusiness
U.S. consumer prices rose for the first time in four months in February, but the pace of the increase was modest, resulting in the smallest annual gain in nearly 2-1/2 years.
Excluding the volatile food and energy components, the CPI edged up 0.1 per cent, the smallest increase since August 2018. The so-called core CPI had increased by 0.2 per cent for five straight months. The core PCE price index increased 1.9 per cent on a year-on-year basis in December after a similar gain in November. It hit the U.S. central bank’s 2 per cent inflation target in March last year for the first time since April 2012.
A New York Fed survey of consumer expectations published on Monday showed a drop in inflation expectations in February.
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