Labor Dept: Consumer Prices Up 0.4% In February

March 12, 2024 Business, Economy

Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.

Excluding volatile food and energy prices, the core CPI rose 0.4% on the month and was up 3.8% on the year. Both were one-tenth of a percentage point higher than forecast.

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Consumer prices rose 0.4% in February and 3.2% from a year ago https://t.co/8tOS5eyvJV

— CNBC (@CNBC) March 12, 2024