On the importance of making the Wall Street Journal editor-in-day-old Biggir Baker tax cuts, and President Donald Trump accused former President Biden of inflation during his Congress address.
In February, inflation was slightly cooled until the price hike remained well next week with the Federal Reserve’s purpose before the Central Bank’s policy meeting.
Labor Department said on Wednesday that consumer price Index (CPI) – a widespread fact that daily goods, such as petrol, grocery and fare costs, increased by 0.2 percent in February compared to the previous month, while it increased by 2.8 percent on an annual basis.
The rise in both the annual and monthly inflation was much colder than the expectations of the LSEG economist.
The so -called basic prices, which include the higher petrol and food fluctuations to improve prices trends, increased by 0.2 percent from the previous month and a 3.1 percent on an annual basis, which is slower than the LSEG economist’s estimates.
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The report states that in the past few years, inflation has been constant in the US economy, despite progress in bringing inflation to a 2 % target of the Federal Reserve.
More inflation has created severe financial pressure for most US households, who are forced to pay more prices for everyday needs such as food and rent. Pricing hikes are especially difficult for low -income Americans, as they spend more and more on the need for their already growing salary and have less flexibility in saving money.
Food prices increased by 0.2 % in February. The index for food at home was not changed during the month and in the last 12 months it only increased by 1.9 %.
Egg prices increased by 10.4 % on a monthly basis in February, while meat, poultry and fish prices increased by 0.5 %. In February, fruit and vegetable prices, as well as non -alcoholic beverages, declined by 0.5 %. Milk prices saw a decline of 1 % this month.
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Inflation became more cold than expected in February. (Michael Nagley / Xinhua via Getty Images / Getty Images)
Far from the home index was 0.4 % higher for February and has increased by 3.7 % over the past year.
Energy prices increased by 0.2 percent in February – a small monthly increase from a 1.1 percent increase in January. Petrol prices on a seasonal adjustment basis were 1 % lower last month, while natural gas prices were 2.5 % higher.
In February, accommodation costs increased as the shelter index increased by 0.3 % for the month. The shelter index is 4.2 % higher than a year ago, which increases the smallest increase in 12 months after December 2021.
Transportation costs declined by 0.8 % in February, with the maintenance of vehicles and the increase in offsetting in motor vehicle insurance was more than 4 % – which increased by 0.3 % each.
The US economy increased less than 151,000 jobs in February
Federal Reserve Chair Jerome Powell said that the central bank is not in rush to reduce rates as it monitors inflation and labor market data. (Photo for Alex Wang / Getty Images / Getty Images)
These figures come before the Federal Reserve’s monetary policy meeting next week, when it is expected that the interest rate in the central bank will not change during the uncertainty about inflation and labor market. In his last meeting in February, the Fed left its benchmark federal funds rate from 4.25 % to 4.5 %.
“Today’s cooling CPI was a breath of fresh air, but no one should expect it to start a reduction in the rate immediately,” said Alan Zenner, chief economic strategy of Morgan Stanley Wealth Management. “The Fed has adopted a waiting and viewing currency, and looking at the uncertainty of how trade and immigration policy will affect the economy, they want to see more friendly data of inflation.”
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According to the CME Fed Watch Tool, when policymakers held a meeting of policy makers on March 18-19, the markets have strengthened the 99 % possibility of feed holding rate.
